曼昆《经济学原理》25productiongrowth.ppt

9
THE REAL ECONOMY IN THE LONG RUN
25
Production and Growth
Production and Growth
A country’s standard of living depends on its ability to produce goods and services.
Production and Growth
Within a country there are large changes in the standard of living over time.
Production and Growth
In the United States over the past century, average e as measured by real GDP per person has grown by about 2 percent per year.
Production and Growth
Productivity refers to the amount of goods and services produced for each hour of a worker’s time.
A nation’s standard of living is determined by the productivity of its workers.
Table 1 The Variety of Growth Experiences
Copyright©2004 South-Western
ECONOMIC GROWTH AROUND THE WORLD
Living standards, as measured by real GDP per person, vary significantly among nations.
ECONOMIC GROWTH AROUND THE WORLD
The poorest countries have average levels of e that have not been seen in the United States for many decades.
ECONOMIC GROWTH AROUND THE WORLD
Annual growth rates that seem small e large pounded for many years.
Compounding refers to the accumulation of a growth rate over a period of time.