Homework question help

Economics
Tutor: None Selected Time limit: 1 Day

How do we measure long-term economic growth of a country? What are the key determinants of long-run economic growth?

Aug 21st, 2015

Thank you for the opportunity to help you with your question!

Economic growth is increase in a countries productiveness of a country. Any factors that is involved and can affect production is therefore a determinant of economic growth.

Key determinnats, therefore, include

-quality and quantity of human capital

--technological changes

- level of investment and availability of capital


-

Please let me know if you need any clarification. I'm always happy to answer your questions.
Aug 21st, 2015

Economic growth is an  increase in the productiveness of a country. It is measured by determining the change in total goods and services produced(GDP) by a country over a given period.

%economic growth = (GDP1 -GDP2)/GDP 1 *100%

Any factor that is involved and can affect production is therefore a determinant of economic growth.

Key determinnats, therefore, include

-quality and quantity of human capital

--technological changes

- level of investment and availability of capital

Aug 21st, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Aug 21st, 2015
...
Aug 21st, 2015
May 29th, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer