Gross Domestic Product and Economic Growth Power Point Notes
Gross Domestic Product and Economic Growth Power Point Notes
Gross Domestic Product and Economic Growth Power Point Notes
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Measuring <strong>Economic</strong> <strong>Growth</strong><br />
• Real GDP per capita - real GDP divided by the total population of<br />
a country<br />
• Capital Deepening - increasing the amount of capital per worker<br />
• Savings <strong>and</strong> Investments - income not used for consumption<br />
Capital Deepening<br />
Human Capital<br />
+<br />
Physical Capital<br />
Increased Labor <strong>Product</strong>ivity<br />
Increased Output<br />
Increased Wages<br />
Increased Labor Dem<strong>and</strong>s
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