Unit 2 - Chapter 10

Unit 2 - Chapter 10 - Macroeconomics Chapter 10 Long-Run...

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Macroeconomics Chapter 10 Long-Run Economic Growth: Sources and Policies
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Why was England First? 10 - 1 Why did the Industrial Revolution occur in England? Industrial Revolution The application of mechanical power to the production of goods, beginning in England around 1750.
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Economic Growth Over Time and Around the World 10 - 1 Average Annual Growth Rates for the World Economy
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Standards of Living in China and Japan 10 - 2 If rapid economic growth continues in China, its standard of living will begin to approach those in the United States and Japan. CHINA JAPAN Life expectancy at  birth 71.5 years 81.9 years Infant mortality (per  1,000 live births) 30 3 Percentage of the  population surviving  on less than $2 per day 47% 0% Percentage of the  population with access  to treated water 77% 100% Percentage of the  population with access  to improved sanitation 44% 100%
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GDP per Capita Around the World 10 - 2 GDP per Capita, 2004
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Grow? Labor productivity Economists believe two key factors determine  labor productivity: the quantity of capital per  hour worked and the level of technology. Technological change There are three main sources of technological  change: - Better machinery and equipment. - Increases in human capital. - Better means of organizing and  managing production.
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The Per-Worker Production Function 10 - 3 The Per-Worker Production Function
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Capital or Technological Change? Technological Change: The Key to Sustaining Economic Growth
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This note was uploaded on 05/06/2008 for the course ECON 112 taught by Professor Ramirez during the Fall '08 term at E. Stroudsburg.

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Unit 2 - Chapter 10 - Macroeconomics Chapter 10 Long-Run...

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