Macro Economic Growth

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Last updated 7:58 PM on 4/7/26
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4 Terms

1
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How does an Economy grow over time

Increase in labor productivity, Increase in number of labor hours worked, Increase the labor participation rate, Increase the size of the population

2
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How to increase labor productivity

Increase human capital, Increase technology, Increase capital stock (k)

3
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How to promote economic growth

Protect intellectual property, subsidize education, subsidize R & D

4
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Why isn’t the whole world rich

Culture, technological progress