2.What is the expected growth rate of the countries in Africa in the next decade? 3.According to the author, how easy was his journey of 15,800 miles across Africa? 1. Note that by "potential growth" they mean the growth rate of potential GDP. 2.What happened to the U.S. economy in the mid-1990s? 3.What are the "two big determinants" that determine growth in potential GDP? In the section on long-run growth we had an equation that described GDP per person (GDP/pop was on the right-hand side of that equation). Are the two factors that influence GDP per person in that equation similar to what this article describes? Are the factors identical if we eliminate "pop" (or population) from that equation of the section on long-run growth?
4.What is happening to increases in the labor force and why? What might bedone to address the issues described in the article? 5.What is happening to increases in labor productivity (i.e., Y/L) and why?
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- Fall '10