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Winter Semester 2011Alexander Fink, Institut für Wirtschaftspolitik1 Universität Leipzig Introduction to Economics Lecture 8: Growth Alexander Fink, PhD.
THE REAL ECONOMY IN THE LONG RUN. Copyright © 2004 South-Western 12 Production and Growth.
9 THE REAL ECONOMY IN THE LONG RUN. Copyright © 2004 South-Western 25 Production and Growth.
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Production and Growth A country’s standard of living depends on its ability to produce goods and services. Within a country there are large changes in.
9 THE REAL ECONOMY IN THE LONG RUN. Copyright © 2004 South-Western 25 Production and Growth Framleiðsla og hagvöxtur.
Production and Growth Chapter 7. Learning Objectives u See how economic growth differs around the world u Consider why productivity is the key determinant.
Copyright © 2004 South-Western 12 Production and Growth.
Economic Growth The long run view. Why economic growth is important The society’s standard of living Ability to produce goods and services Within a country.
Production and Growth ETP Economics Jack Wu. Standard of Living A country ’ s standard of living depends on its ability to produce goods and services.
PRODUCTION AND GROWTH. A country’s standard of living depends on its ability to produce goods and services. Within a country there are large changes.
