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Name and explain how four of these factors, discussed in this course, cause economic progress. The business cycle, the short-run alternation between recessions and expansions
Name and explain how four of these factors, discussed in this course, cause economic progress.
The business cycle,
the short-run alternation between recessions and expansions
Long-Run Economic Growth
Inflation and Deflation
labor productivity, or productivity
Human capital
- What is the most important factor in causing economic progress that has been discussed in this course?
- Why is it the most important factor?
Read chapters 6 (pp. 177-179) and 9 (pp. 241-264) in Krugman and pp. 63-67 and 634-639 in Reisman's book before answering this question. (No more than two pages)
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