Chapter 20: Problem 28
Why is investing in girls' education beneficial for growth?
Chapter 20: Problem 28
Why is investing in girls' education beneficial for growth?
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Get started for freeAre there other ways in which we can measure productivity besides the amount produced per hour of work?
How do gains in labor productivity lead to gains in GDP per capital?
Say that the average worker in the U.S. economy is eight times as productive as an average worker in Mexico. If the productivity of U.S. workers grows at \(2 \%\) for 25 years and the productivity of Mexico's workers grows at \(6 \%\) for 25 years, which country will have higher worker productivity at that point?
Over the past 50 years, many countries have experienced an annual growth rate in real GDP per capital greater than that of the United States. Some examples are China, Japan, South Korea, and Taiwan. Does that mean the United States is regressing relative to other countries? Does that mean these countries will eventually overtake the United States in terms of the growth rate of real GDP per capital? Explain.
List the areas where government policy can help economic growth.
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