21 February 2013 Econ 202

84 o rich 099 femalemale post secondary enrollment

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Poor: 0.84 o Rich: 0.99 Female/male post-secondary enrollment (ratio) o Poor: 0.64 o Rich: 1.21 World per capita real GDP, 0 – 2000 Life didn’t change until about 300 years ago Life was based on subsistence living for the most part  A little bit of growth occurred and it was sustained  o Industrial Revolution GDP started growing at 0.5% a year in the United States and it  continued Sustained growth didn’t occur everywhere uniformly though 2% economic growth doesn’t seem much, but it can significantly change  people’s lives
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o Life expectancy has gone up drastically over the past 100 years,  paralleling this growth in GDP Basic growth mathematics Economic growth: The growth rate of per capita real GDP o Measures a change in living standards o U.S. economic growth in 20 th  century was 2%  o Example: 2012 U.S. economic growth 2011 U.S. GDP (billions) - $15,075 2012 U.S. GDP - $15,676  = GDP growth – 4%  - Price growth (inflation) – 1.8%
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