Economic Growth

Front

Capital Deepening is the process of?

Back

increasing the amount of capital per worker.

Front

How is high GDP per capita linked to quality of life?

Back

High GDP per capita usually indicates better nutrition, housing, education, and job opportunities.

Front

Why does capital deepening work with human capital?

Back

Greater skill increases workers’ output.

Front

How is saving linked to increased capital?

Back

Saving provides money for investment in human and physical capital.

Front

What are the main factors in technological progress?

Back

scientific research, innovation, scale of the market, education and experience, and natural resource use

Front

What is the ultimate effect of capital deepening?

Back

Increased wages from demand for workers

Front

Income that is not used for consumption is called ______

Back

Saving

Front

What happens to your money in the bank?

Back

Bank loans it out

Front

The goal of every economy is to increase GDP __% every year?

Back

3

Front

More people in an economy will normally result in

Back

Capital Increase