Consideration of Economic Growth - how new information...

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Econ 4.3 Wednesday, April 14, 1999 Announcements: Homework is due on Friday. Online quiz will be taken offline on Friday. Lecture notes: Consideration of Economic Growth Why are some of the oldest surviving cultures in the world so poor? (ie. India, China) Alan Greenspan recently said, "Competition is the necessary driving force toward delivering a superior product or service. We should not shy away from it. Colleges and universities are being challenged to evaluate
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Unformatted text preview: how new information technologies can best be employed in their curricula and their delivery systems." Importance of Compound Economic Growth Rates Rule of 72 Dividing the number 72 by a growth rate yields the approximate number of years it takes for the economy to double in size. Growth Rate % Years to Double 0.0 Never 0.1 720 0.5 144 1.0 72 1.5 48 2.0 36 2.5 29 3.0 24 3.5 21 4.0 18 4.5 16 5.0 14...
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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.

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Consideration of Economic Growth - how new information...

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