ECO 1102 Chapter Notes - Chapter 7: Alvin Hansen, Unemployment Benefits, Real Interest Rate

45 views7 pages
20 Nov 2017
Department
Course
Professor
roza220x and 38789 others unlocked
ECO 1102 Full Course Notes
46
ECO 1102 Full Course Notes
Verified Note
46 documents

Document Summary

Chapter 7: long-run economic growth: sources and policies. Sustained economic growth first began with the industrial revolution in england in the late eighteenth century. From there, economic growth spread to the united states, canada, and the countries of western europe. Following the end of world war ii in 1945, rapid economic growth also began in japan and, eventually, in several other asian countries, but the economies of many other countries stagnated, leaving their people trapped in poverty. Real gdp per capita is the best measure of a country"s standard of living because it represents the ability of the average person to buy goods and services. Economic growth occurs when real gdp per capita increases. Economic growth over time and around the world. Sustained economic growth did not begin until the industrial revolution, which started in england around the year. Institutional framework gives incentives to entrepreneurs: small differences in growth rates are important.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers

Related textbook solutions

Related Documents

Related Questions