This preview shows page 1. Sign up to view the full content.
Unformatted text preview: 1996 See Table 19.5 on page 409 in the textbook Productivity of Input The productivity of an input is measured as the amount of output produced per unit of the input Inventions and Innovations An invention is an advance in knowledge Innovation is the use of new knowledge to produce a new product or to produce an existing product more efficiently Growth of Real GDP in the United States, 1871 to 1997 See Table 19.6 on page 412 in the textbook The US leads ahead of France, W. Germany, Japan and Britain in level of GDP per person Sources of Growth in the United States, 1929-1982 See Table 19.7 on page 413 in the textbook...
View Full Document
This note was uploaded on 02/21/2008 for the course ECON 4.3 taught by Professor Fox during the Spring '99 term at Pennsylvania State University, University Park.
- Spring '99