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ESI Unit 5 Lesson 1 - Long-run Growth Flashcards | Quizlet

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Start studying ESI Unit 5 Lesson 1 - Long-run Growth. Learn vocabulary, terms, and more with flashcards, games, and other study tools.

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1. How we measure long-run economic growth

2. How real GDP has changed over time

3. How real GDP varies across countries

4. The sources of long-run economic growth

5. How productivity is driven by physical capital, human capital, and technological progress

6. How changes in productivity are illustrated using an aggregate production function

7. How growth has varied among several important regions of the world and why the convergence hypothesis applies to economically advanced countries

8. The factors that explain why long-run growth rates differ so much among countries

9. The challenges to growth posed by scarcity of natural resources, environmental degradation, and efforts to make growth sustainable

10. How long-run economic growth is represented in macroeconomic models

11. How to model the effects of economic growth policies