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May 10, 2024

Recall that Chapter #07, Economic Growth, consists of 4 sections and 13 learning outcomes.

General Question

Recall that Chapter #07, Economic Growth, consists of 4 sections and 13 learning outcomes. Below are the sections and their associated learning outcomes.

The Relatively Recent Arrival of Economic Growth

Explain the conditions that have allowed for modern economic growth in the last two centuries

Analyze the influence of public policies on an economy’s long-run economic growth

Labor Productivity and Economic Growth

Identify the role of labor productivity in promoting economic growth

Analyze the sources of economic growth using the aggregate production function

Measure an economy’s rate of productivity growth

Evaluate the power of sustained growth

Components of Economic Growth

Discuss the components of economic growth, including physical capital, human capital, and technology

Explain capital deepening and its significance

Analyze the methods employed in economic growth accounting studies

Identify factors that contribute to a healthy climate for economic growth

Economic Convergence

Explain economic convergence

Analyze various arguments for and against economic convergence

Evaluate the speed of economic convergence between high-income countries and the rest of the world

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