--%>
Assignment Help - homework help

Elucidate the growth record of the United States

Elucidate the growth record of the United States?

E

Expert

Verified

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.

   Related Questions in Business Economics

  • Q : Significant that economics is not a

    Why is it significant that economics is not a laboratory science?  What problems may be evolved in deriving and applying economic principles?

    		•
  • Q : Independent queue vs. pooled queue

    Instruction: McDonald's vs. Burger King - these two fast food chains use different waiting line design: Independent queue vs. pooled queue. To compare the two different queue systems on equal footing, let's assume that we pick a McDonald's sto

    		•
  • Q : Explain determining the types of the

    Explain determining the types of the various products that will be produced?

    		•
  • Q : Describe North American Free Trade

    Describe North American Free Trade Agreement (NAFTA)?

    		•
  • Q : Market system automatically adjustment

    Concept of Adam Smith that the market system automatically adjusts as when guided through an “invisible hand” most intimately resembles: (1) flows of electricity across the microcircuits within computer chips. (2) homeosta

    		•
  • Q : Meaning of Modigliani-Miller Briefly

    Briefly describe the meaning of Modigliani- Miller (M and M) approach?

    		•
  • Q : David Hume statement regarding money in

    In modern parlance, David Hume statement regarding money which is Tis none of the wheels of trade. And tis the oil, was referring to the notion that money: (i) is relatively costly to produce. (ii) facilitates divisions of labor and specialization and

    		•
  • Q : Distribution of endowments 1. We have

    1. We have discussed the importance of resource endowments and institutions for an economy's successful development. a. In this game, what are the resources that make up the endowments, and what defines a given player's endowment o

    		•
  • Q : What are the Functions of money Explain

    Explain in short the functions of money? Answer: (A) Medium of exchange: Money can be employed to make payments for all transactions of services and goods.

    		•
  • Q : Heterodox perspective of business

    I am facing difficulty in this question. Help me in find out correct answer of this economy based question. From heterodox perspective, why do business enterprises choose administered prices as opposed to highly flexible prices?

    		•