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Discuss the validity of the following statement,
Unlike Solow's model, Romers model concludes that changes in saving rate do not affect the sustained per capita output growth rate
and
what is the leading economy in the world today? Economist will use two related measures to answer this question, GPD and GPD per capita
Discuss which measure is more important from person's point of view and which better reflects the standard of living? china is experiencing tremendous growth since 1978 and its projected growth is three times more than US growth rate. if china continues to grow at current growth pace it will have larger GDP than US in 2018. Will China be able to close the gap between US in real GDP per capita? what factors can contribute to that? what government policy to promote growth should be used?
Unlike Solow's model, Romers model concludes that changes in saving rate do not affect the sustained per capita output growth rate
and
what is the leading economy in the world today? Economist will use two related measures to answer this question, GPD and GPD per capita
Discuss which measure is more important from person's point of view and which better reflects the standard of living? china is experiencing tremendous growth since 1978 and its projected growth is three times more than US growth rate. if china continues to grow at current growth pace it will have larger GDP than US in 2018. Will China be able to close the gap between US in real GDP per capita? what factors can contribute to that? what government policy to promote growth should be used?
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