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Copyright © 2008 Nelson Education Ltd. Principles of Macroeconomics 4 th Canadian Edition Mankiw, Kneebone & McKenzie Chapter 7 Turning Point Slides
Copyright © 2008 Nelson Education Ltd. Learning Objective #1 See how economic growth differs around the world
Copyright © 2008 Nelson Education Ltd. In the length of one generation, which of the following countries has gone from being among the poorest countries in the world to being among the richest? 1.Nigeria 2.Sudan 3.India 4.South Korea 10 Seconds Remaining
Copyright © 2008 Nelson Education Ltd. Of the following countries, which grew the slowest over the last 100 years? 1.Brazil. 2.Mexico. 3.Singapore. 4.United States. 10 Seconds Remaining
Copyright © 2008 Nelson Education Ltd. Learning Objective #2 Consider why productivity is the key determinant of a countrys standard of living
Copyright © 2008 Nelson Education Ltd. Which of the following is NOT correct? 1.Countries that have had higher output growth per person have typically not done so with higher productivity growth. 2.A country's standard of living and its productivity are closely related. 3.Increasing the amount produced per hour of work has led to higher wages for workers. 4.Increases in productivity can be used to increase output or leisure. 10 Seconds Remaining
Copyright © 2008 Nelson Education Ltd. The primary reason that Canadian living standards are higher today than they were a century ago is that … 1.more productive natural resources have been discovered. 2.physical capital per worker has increased. 3.technological knowledge has increased. 4.human capital has increased. 10 Seconds Remaining
Copyright © 2008 Nelson Education Ltd. Learning Objective #3 Analyze the factors that determine a countrys productivity
Copyright © 2008 Nelson Education Ltd. Which of the following would increase productivity? 1.an increase in the physical capital stock per worker 2.an increase in human capital per worker 3.an increase in natural resources per worker 4.All of the above are correct. 10 Seconds Remaining
Copyright © 2008 Nelson Education Ltd. On average, each year of schooling raises a person's wage in Canada by about 10 Seconds Remaining 1.3 percent percent percent percent.
Copyright © 2008 Nelson Education Ltd. Learning Objective #4 Examine how a countrys policies influence its productivity growth
Copyright © 2008 Nelson Education Ltd. A government can encourage growth and, in the long run, raise the economy's standard of living by encouraging 1.population growth. 2.consumption spending. 3.saving and investment. 4.trade restrictions. 10 Seconds Remaining
Copyright © 2008 Nelson Education Ltd. Many countries in Africa have low growth rates. This is partly due to 1.few natural resources. 2.high trade barriers. 3.low incomes, making it very difficult for them to grow. 4.All of the above are correct. 10 Seconds Remaining
u A countrys standard of living depends on its ability to produce goods and services. u Within a country there are large changes in the standard of living.
0 Do First What are the 2 primary measures of a country’s economic health? What is productivity? What are the 4 determinants of productivity? CHAPTER.
Economic Growth II: The Solow Model and Beyond Gavin Cameron Lady Margaret Hall Hilary Term 2004.
ECONOMIC GROWTH 9 CHAPTER. Objectives After studying this chapter, you will able to Describe the long-term growth trends in the United States and other.
Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Chapter 9 Growth.
MEASURES OF ECONOMIC GROWTH Biba S. Kavass. OBJECTIVES Define economic growth. Analyze measures of economic growth. Examine GDP per capita. Analyze how.
THE ECONOMY AT FULL EMPLOYMENT: THE CLASSICAL MODEL 24 CHAPTER.
Economics CRCT Review ECONOMICS the study of how people or countries manage (choose to use) their limited resources by producing, exchanging, and using.
© 2010 Pearson Addison-Wesley Managerial Economics - Lecture 1 Dr. Abdullah Alharbi Basic Concepts of Economics Introduction:
When the consumer price index rises, the typical family a. has to spend more dollars to maintain the same standard of living. b. can spend fewer dollars.
© 2010 Pearson Addison-Wesley. The Basics of Economic Growth Economic growth is the sustained expansion of production possibilities measured as the.
Chapter 17: Growth and Productivity: Long-Run Possibilities Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.
The Long Run Part 2:. Chapter 3 An Overview of Long-Run Economic Growth Charles I. Jones.
Economic Growth CHAPTER After studying this chapter you will be able to Define and calculate the economic growth rate and explain the implications.
Markets for Factors of Production CHAPTER 18 C H A P T E R C H E C K L I S T When you have completed your study of this chapter, you will be able to.
At Full Employment: The Classical Model CHAPTER 23.
DEMAND AND SUPPLY IN FACTOR MARKETS 17 CHAPTER. Objectives After studying this chapter, you will able to Explain how firms choose the quantities of labor,
Slides prepared by Thomas Bishop Chapter 7 International Factor Movements.
1 Economic Growth Professor Chris Adam Australian Graduate School of Management University of Sydney and University of New South Wales.
The Economic Development of the Global Main Economies US, EU, Japan, and China Together Account for 70% of the Global Economy.
Why do Americans earn more and produce more than Europeans? Compared to the average European, the average American works longer hours, produces more,
© 2010 Pearson Addison-Wesley CHAPTER 1. © 2010 Pearson Addison-Wesley.
M ACROECONOMICS © 2008 by W. W. Norton & Company. All rights reserved Charles I. Jones 5 The Solow Growth Model.
Trading with the World CHAPTER 20. After studying this chapter you will be able to Describe the trends and patterns in international trade Explain comparative.
International Trade CHAPTER 18 C H A P T E R C H E C K L I S T When you have completed your study of this chapter, you will be able to 1 Describe the.
© 2010 South-Western, a part of Cengage Learning, all rights reserved C H A P T E R 2010 update Ten Principles of Economics M icroeconomics P R I N C I.
Copyright © 2011 Pearson Addison-Wesley. All rights reserved. Chapter 4 Comparative Advantage and Factor Endowments.
Slides prepared by Thomas Bishop Chapter 10 Trade Policy in Developing Countries.
Splash Screen. ML Sinibaldi/CORBIS Chapter Menu Chapter Introduction Section 1:Section 1:World Population Section 2:Section 2:Global Cultures Section.
EU Competitiveness (1). The concept of competitiveness Controversies surrounding the concept of regional, national or supranational economies Microeconomic.
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