ECON 200 Lecture Notes - Lecture 31: Unpaid Work, Current Population Survey (Us), Opportunity Cost
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ECON 200 Full Course Notes
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Document Summary
Large population; more workers to produce goods and services, more consumers, scientists, more knowledge can be created. Stretching natural resources: malthus: an ever increasing population - society would not be able to sustain itself. View generally accepted by economists - diluting capital stock, high population growth spreads capital stock more thinly and lower productivity per worker. Reducing the rate of population growth might make it easier for country to grow. Need more government regulation and increased awareness of birth control. Increasing opportunity cost of having children for women. In the long run, living standards are important for productivity. Policies that affect the determinants of productivity will therefore affect the next generation"s living standards. One of these determinants is saving and investment. Firs get money for investment expenditures (purchases of physical capital) through savings.
