Monday
Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed. PART 9 The Real Economy in the Long Run Chapter 25 of 36 Production and Growth Section 18 of 22 … Things government can promote and strengthen to increase productivity and living standards include 1· saving and investment 2· investment from abroad 3· education 4· health and nutrition 5· property rights and political stability 6· free trade 7· research and development 8· population growth … 8· Population growth Social scientists including economists have long debated how population affects a society. The direct effect of an increasing size population is more producing and consuming of goods. But a larger population does not always mean a higher standard of living for a society. The on-going debate over the effects of a growing world population includes these topics: a· stretching natural resources b· diluting capital stock c· promoting technological progress … a. Stretching natural resources Thomas Robert M...