econ week 6 notes
econ week 6 notes ECON 104
Popular in Introductory Macroeconomic Analysis and Policy, Goffe
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This 0 page Class Notes was uploaded by Evangelos Katradis on Tuesday March 22, 2016. The Class Notes belongs to ECON 104 at Pennsylvania State University taught by Goffe in Spring2015. Since its upload, it has received 14 views.
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Date Created: 03/22/16
week 6 econ notes Rule of 70 70growth rate Role of Capital amp Technology in Growth key terms Y real GDP real production or income L of workers in country s economy YL labor productivity how much the average worker produces in a year pop pop of a country Ypop GDP per person YL Lpop X YL Per worker production function YL y axis KL x axis YL AWLquot3 A TFP total factor productivity TFP measures technology human capital better capital amp better organized firms