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Macro and Micro Economics - Assignment Example

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Macro & Micro economics Name: XXXXXXXXXXXXXXX XXXXXXXX Professor: XXXXXXXXXXXXXXX XXXXXX Institution: XXXXXXXXXXXXXXXXXXXXX Course: XXXXXXXXXXXXXXXXXXXXXXX Date: XXXXXXXXXXXXXXXXXXXXXXXXX Question 1 a) Explain why the natural log of the US’s per capita income relative to that in 1960 is 0…
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Macro and Micro Economics
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Macro and Micro Economics

Download file to see previous pages... The United States is endowed with massive natural resources, Presence of a human resource that provides work force for its industries. These are among the factors that boost its national income and hence economic growth. A strong currency was also another factor for growth of the US economy. Consumption of goods is also key to growth and there has been a huge consumption of goods by residents of the US. Factors that would have caused lower growth in those countries would include government policy, adult education .A huge educated population is also critical in fuelling economic growth. (Wooldridge, 2009, p.7) (b) Estimate the following model of the average growth rate of income per worker.(** strong significance p ...Download file to see next pagesRead More
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