What factors generate economic growth?
What will be an ideal response?
Two key factors create economic growth: Technological change and capital accumulation, including the accumulation of additional human capital. Both technological change and capital accumulation shift the nation's PPF outward.
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Alan Kulikoff (2000) maintains that the opportunity to own land privately provided many individuals with incentive to relocate to colonial America and accept the associated risks
Indicate whether the statement is true or false
Other things the same, if a country raises its saving rate, then in the long run
a. both the level and growth rate of real GDP are unchanged. b. the level of real GDP is higher but the growth rate of real GDP is unchanged. c. both the level and growth rate of real GDP are higher. d. None of the above are correct.