Changes in the quantity and quality of resources. Poorer countries can at a faster rate because they can simply adopt the institutions and tech developed in richer countries.How many different factors are there when discussing DETERMINANTS OF ECONOMIC GROWTH?4 SUPPLY FACTORS - Changes in physical and technical agents of production.What are the four SUPPLY FACTORS of economic growth? Oh no!
To ensure the best experience, please update your browser.An increase in real GDP and an increase in real GDP per capita occurring over some time period.Why is there such vast differences in the per capita GDP in different countries in the world?This is because of the different starting dates that these economies have been born in.What type of country has the most potential of growth?Why can poor countries grow faster than rich countries?Adopting technology is quicker than inventing the technology.
In human factors psychology, the area of cognitive engineering includes the study of vigilance and monitoring, recognizing signals in noise, mental resources, and divided attention.
If a machine multiplies force by a factor of four, what other quantity is diminished, and how much? tmgrayson. Start studying HVAC Unit 29 Troubleshooting and Typical Operating Conditions for Commercial Refrigeration Review Questions.
Learn vocabulary, terms, and more with flashcards, games, and other study tools. t The cost of goods sold to scrap ratio is a multiple factor ratio.
Efficiency is defined as the ratio of: A. actual output to effective capacity B. actual output to design capacity C. design capacity to effective capacity D. effective capacity to actual output E. design capacity to actual output. It looks like your browser needs an update. ... What is the efficiency of the machine that miraculously converts all the input energy to useful output energy? (see Determinants of Growth)1.) An economy increases its real output and income through what two ways?By increasing its inputs of resources and increasing the productivity of those inputs.What does it mean to have improved resource allocation?This means that workers over time have moved from low-productivity employment to high-productivity employment. Expanded production and utilization of all resources not enough--need efficiency.
Changes in how well an economy achieves ALLOCATIVE and PRODUCTIVE efficiency.What does growth accounting attribute increase in REAL GDP to?The AMOUNT OF LABOR being employed or to increases in the PRODUCTIVITY OF LABOR being employed.In the U.S., increases in REAL GDP are mostly the result of what?Increases in LABOR PRODUCTIVITY.
What are the two ways Economic growth can be measured?Economic growth can be measured either as an increase in real GDP over time or as an increase in real GDP per capita over time.Real GDP in the US has grown at an annual rate of about 3.2% since 1950.Real GDP per capita has grown at roughly a 2% annual rate since 1950.What are the characteristics of MODERN ECONOMIC GROWTH?Some nations have experienced nearly two centuries of MODERN ECONOMIC GROWTH while others have only recently begun to experience it.Why is it that poorer countries can develop more quickly than richer countries?At this stage, the growth of real GDP PER CAPITA is limited to about 2% per year for richer countries; to continue to grow, they must invent and apply new tech. (Details on other card.)
... Science Energy and Work Quizlet. (see Determinants of Growth)1.)