Economic Growth
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Economic Analysis
MBA / MPA Solved Assinment No 2
Topic No 1 Helping Material
Many scientists believe that we are rapidly depleting our natural resources. Assume that there are only two inputs (labour and natural resources) producing two goods (musical concerts and gasoline) with no improvement in society over time. Show what would happen to the PPF over time as natural resources are exhausts. How would invention and technological improvements modify your answer? On the basis of this example, explain why it is said “economic growth is a race between depletion and invention.
AS Macroeconomics / International Economy
Economic Growth
Growing economies provide the means for people to enjoy better living standards and for more of us to find work. But what is economic growth and how best can a country achieve it?
Defining economic growth
Economic growth is best defined as a long-term expansion of the productive potential of the economy. Sustained economic growth should lead higher real living standards and rising employment. Short term growth is measured by the annual % change in real GDP.
Growth and the Production Possibility Frontier
An increase in long run aggregate supply is illustrated by an outward shift in the PPF.
Advantages of Economic Growth
Sustained economic growth is a major objective of government policy – not least because of the benefits that flow from a growing economy. * Higher Living Standards – for example measured by an increase in real national income per head of population – see the evidence shown in the chart below * Employment effects: Growth stimulates higher employment. The British economy has been growing since autumn 1992 and we have seen a large fall in
-------------------------------------------------
Top of Form
Bottom of Form
Solved Assignments | Past Papers | Online Lectures | Handouts | Guess Papers | Books
Economic Analysis
MBA / MPA Solved Assinment No 2
Topic No 1 Helping Material
Many scientists believe that we are rapidly depleting our natural resources. Assume that there are only two inputs (labour and natural resources) producing two goods (musical concerts and gasoline) with no improvement in society over time. Show what would happen to the PPF over time as natural resources are exhausts. How would invention and technological improvements modify your answer? On the basis of this example, explain why it is said “economic growth is a race between depletion and invention.
AS Macroeconomics / International Economy
Economic Growth
Growing economies provide the means for people to enjoy better living standards and for more of us to find work. But what is economic growth and how best can a country achieve it?
Defining economic growth
Economic growth is best defined as a long-term expansion of the productive potential of the economy. Sustained economic growth should lead higher real living standards and rising employment. Short term growth is measured by the annual % change in real GDP.
Growth and the Production Possibility Frontier
An increase in long run aggregate supply is illustrated by an outward shift in the PPF.
Advantages of Economic Growth
Sustained economic growth is a major objective of government policy – not least because of the benefits that flow from a growing economy. * Higher Living Standards – for example measured by an increase in real national income per head of population – see the evidence shown in the chart below * Employment effects: Growth stimulates higher employment. The British economy has been growing since autumn 1992 and we have seen a large fall in