i) Consider an economy that is operating at full employment equilibrium.i) Consider an economy that is operating at full employment equilibrium.
September 3, 2020
All of us use of the cost-benefit principle in our daily lives to make economic choices.State an instance where you made use of the cost-benefit…
September 3, 2020

Discussion questions below. 150 words minimum with references.The long-run growth is measured as the increase in real GDP per capita and this measure has changed over time and it also varies across c

Discussion questions below.  150 words minimum with references.

The long-run growth is measured as the increase in real GDP per capita and this measure has changed over time and it also varies across countries. A country’s standard of living depends on its ability to produce goods and services (productivity).

  1. How do we measure long-term economic growth of a country? What are the key determinants of long-run economic growth?
  2. What is the relationship between economic growth and productivity? What is the major source of growth in labor productivity?
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