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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Subject: Macro & Microeconomics
Type: Assignment
Level: High School
Pages: 4 (1000 words)
Downloads: 2
Author: kebert

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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

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