EBK MACROECONOMICS
10th Edition
ISBN: 9780134896571
Author: CROUSHORE
Publisher: VST
expand_more
expand_more
format_list_bulleted
Question
Chapter 6, Problem 2RQ
To determine
The source that contributed in slowing down the growth of the U.S. economy since 1973.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
What are the two major determinants of the overall growth of the economy according to the view of economic growth based on labor data?
Since the late 1950s, economists have performed “growthaccounting†studies in the United States.These have determined that ________________ is typically the mostimportant contributor to U.S. economic growth.
a)physical capital
b)human capital
c)technology
d)a market orientation
Suppose that , the marginal product of efficiency units of labor, increases in the endogenous growth model. What effects does this have on the rates of growth and the levels of human capital, consumption, and output? Explain your results.
Knowledge Booster
Similar questions
- Governor Mitch Daniels advocates that the government intervene less in business to promote jobs and ultimately economic growth. Instead, he argues to have government put factors in place that promote job growth such as lower taxes and more infrastructure. Is this an appropriate method to promote growth? Are there alternatives where the government can intervene that are more efficient than the market?arrow_forwardWhat has been the average annual growth rate of U.S. real GDP per person over the 120 years from 1900 to 2020? In which decade, beginning with the 1960s, was the growth of potential GDP per person greatest and slowest? Over the 120 years from 1900 to 2020, the average annual growth rate of U.S. real GDP per person is enter your response here percent.arrow_forwardDescribe the specific factors accounting for the United States' economic growth.arrow_forward
- What are the predictions of economic theory regarding the relationship between human capital and economic growth? What other key factors affect economic growth?arrow_forwardSuppose that society decided to reduce consumption and increase investment. How would this change affect economic growth? What groups in society would benefit from this change?What groups might be hurt?arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
- Macroeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506756Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage LearningEconomics: Private and Public Choice (MindTap Cou...EconomicsISBN:9781305506725Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage LearningExploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, Inc
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning
Macroeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Economics: Private and Public Choice (MindTap Cou...
Economics
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc