{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

07+The+Sources+of+Growth+and+the+Solow+Model,+Part+1

07+The+Sources+of+Growth+and+the+Solow+Model,+Part+1 -...

Info icon This preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
1 7-1 The Source of Growth and the Solow Model Part 1 7-2 Agenda 1. The Importance of Long-Term Growth 2. The Sources of Economic Growth 3. The Solow Growth Model 7-3 The Importance of Long-Term Growth Long-term economic growth is about the annual average growth rate of real economic output, generally over period of 10 years or longer. Because of changes in the size of a country’s population and labor force, economic output is generally measured in per-capita or per- worker terms . 7-4 The Importance of Long-Term Growth Y/L 1,500BCE 0 500CE 1000 1500 1750 2000
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon