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- Explain how the nation's potential output can be raised.
- Learn how the standard of living is affected by real GDP per capita.
- Discuss the factors that affect productivity.
- Describe how human capital affects productivity.
- Understand how productivity is affected by physical capital.
- Explain how technology affects productivity.
- Take a look at policies that promote growth in economic productivity.
1. Economic Growth: How to Raise a Nation's Potential Output
Learn the truth about long run economic growth, including how economists define and illustrate an increase in the potential output of a nation through change in real GDP.
2. How Real GDP per Capita Affects the Standard of Living
Have you ever wondered why some countries are better off than others? In this lesson, explore the concept of real GDP per capita, an economic measure of a nation's standard of living, and discover how population, productivity, and the savings rate effect the standard of living.
3. Productivity: The Economy's Long-Run Growth Engine
Using real-world examples, you'll learn more about what productivity is and four things that determine it within a nation - physical capital, technology, human capital, and natural resources.
4. Investment in Human Capital and Productivity
This lesson explores the education, knowledge and skills of the labor force - what economists call human capital - including how it affects productivity and economic output.
5. Physical Capital: Definition and Effects on Productivity
This lesson explains what physical capital is and why it's important to an economy. Using real-world examples, you'll see how it relates to the process of producing goods and services, which is a major foundation of economic growth.
6. How Technology, Research & Development Affect Productivity
Economists consider productivity to be a nation's long-run growth engine. This lesson explores the connection between technology, research & development, and productivity, using real-world examples.
7. Growth Policy and Economic Productivity
What do savings accounts and promoting education have to do with helping the economy to grow? In this lesson, we will explore government policies that help promote higher long-run economic growth.
8. Voluntary Exchange: Definition, Principle, Model & Examples
This lesson discusses the voluntary exchanges which occur in our lives almost every day. It discusses the importance of voluntary exchanges to the economy by presenting key definitions, the model, and relevant examples.
9. What was the Great Recession? - Timeline, Facts, Causes & Effects
Beginning in 2007 and through 2009, the world economy was in turmoil. In this lesson, you'll learn about the Great Recession; why it happened, the events that made it worse, and what it meant to the United States and the world.
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Other chapters within the College Macroeconomics: Tutoring Solution course
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- Measuring the Economy: Tutoring Solution
- Inflation Measurement and Adjustment: Tutoring Solution
- Understanding Unemployment: Tutoring Solution
- Aggregate Demand and Supply: Tutoring Solution
- Macroeconomic Equilibrium: Tutoring Solution
- Inflation and Unemployment: Tutoring Solution
- Money, Banking, and Financial Markets: Tutoring Solution
- Central Bank and the Money Supply: Tutoring Solution
- Fiscal and Monetary Policies: Tutoring Solution
- Foreign Exchange and the Balance of Payments: Tutoring Solution
- Inflows, Outflows, and Restrictions: Tutoring Solution