Elucidate the growth record of the United States
Elucidate the growth record of the United States?
Expert
The growth record of the United States is impressive.
1. Real GDP has increased more than six fold since 1940, and real per capita GDP has risen almost fourfold.
2. Rate of growth record shows that real GDP has grown 3.1 percent per year since 1950 and real GDP per capita has grown about 2 percent per year. But the arithmetic needs to be qualified.
a. Growth doesn’t measure quality improvements.
b. Growth doesn’t measure increased leisure time.
c. Growth doesn’t take into account adverse effects on environment or human security.
d. International comparisons are useful in evaluating U.S. performance. For example, Japan grew more than twice as fast as U.S. until the 1990s when the U.S. far surpassed Japan.
Define the following terms?
I have a problem in economics on Resources of private Capitalism. Please help me in the following question. The Private individuals own most resources and find out how they will be employed in an economic system of: (1) Socialism. (2) Capitalism. (3)
What are the limitations of Circular Flow Model?
How can we compute operating leverage?
One early involvement of Adam Smith to the theory of gains by international trade, although later thoroughly revised and refined through David Ricardo, was the conception of: (1) mercantilism. (2) absolute advantage. (3) comparative a
The new supply and demand curves within University City were S0 and D0, before the county commission imposed a $3 per six-pack excise tax upon beer. The new equilibrium quantities of six-packs sold per month and equilibrium prices, respectively,
What problem does barter entail?
Both individual sellers and buyers within perfect competition: w) can affect the market price through their own individual actions. x) can affect the market price by joining along with some of their competitors. y) have to take the market price as a specified. z
Not between exact activities for government to undertake, according to Adam Smith, would be for the government to: (1) maintain public institutions and public works. (2) protect society by invasion. (3) serves as a medium for law and justice. (4) regu
Describe the Functional distribution of income?
18,76,764
1926591 Asked
3,689
Active Tutors
1426931
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!