Summary
Summary Macroeconomics: economic growth and the wealth of the nations.
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Pages
3
Uploaded on
13-03-2023
Written in
2022/2023
This is a summary about a macroeconomic chapter that talks about economic growth and the wealth of the nations. It defines economic growth and gives the formula to measure it. It provide also an example through a table. It also talks about how growth rates affect income levels showing how to find how much time it takes for an income to double with a fixed rate. It does it mathematically but also through the rule of 70. Finally it talks about the factors that lead to economic growth
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Institution
Iowa Western Community College
Course
ECN
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Written for
- Institution
-
Iowa Western Community College
- Course
-
ECN
Document information
- Uploaded on
- March 13, 2023
- Number of pages
- 3
- Written in
- 2022/2023
- Type
- SUMMARY
Subjects
- economic growth
- wealth of the nations
- wealth
- income
- real per capita gdp
- formula
- nominal gdp
-
price level
-
inflation
-
table
-
growth rate
-
income level
-
rule of 70
-
factors
-
resources
-
natural resources
-
physical
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