ECSENOMICS Chapter 27 e process of Economic growth McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Chapter 27 The Process of Economic Growth
ECSENOMICS Economic Growth Is Key to Long Term Living Standards 1-199 Figure 27-1 Interaction of AS and AD Determinants of potential output Inputs Aggregate Tar and McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. T-199 Figure 27-1 Economic Growth Is Key to LongTerm Living Standards
ECSENOMICS Diffusion of Major Technologies during the Twentieth Century T200 Figure 27-2 100 Televisions Electric powe Hom 0 1920 194 1960 1970 1990 2000 Ye McGraw-Hilllrwin Source: Economic Report of the President, 2000
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Diffusion of Major Technologies during the Twentieth Century T-200 Figure 27-2 Source: Economic Report of the President, 2000
ECSENOMICS The Classical Dynamics of Smith and malthus T201 Figure 27-3 (a)Smiths Golden Age (b) Malthus's Dismal Science 400 E300 e200 e200 L=2 100 200 100125 Food production Food production McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. The Classical Dynamics of Smith and Malthus T-201 Figure 27-3
ECSENOMICS Environmental Constraints Can Be t Overcome with New Technologies T202 Figure 27-4 Period 2 without TC PEriod I Period 2 with TC B Environmental quality McGraw-Hilllrwin Copyright C 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Environmental Constraints Can Be Overcome with New Technologies T-202 Figure 27-4