TAILIEUCHUNG - Lecture Macroeconomics (9/e): Chapter 10 - David C. Colander

Chapter 10 - The classical long-run policy model: Growth and supply-side policies. After reading this chapter, you should be able to: Define growth, list its benefits and costs, and relate it to living standards; discuss the relationship among markets, specialization, and growth; list five important sources of growth. | Queen Elizabeth owned silk stockings. The capitalist achievement does not typically consist in providing more silk stockings for queens but in bringing them within the reach of factory girls in return for steadily decreasing amounts of effort. — Joseph Schumpeter The Classical Long-Run Policy Model: Growth and Supply-Side Policies Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Chapter Goals Define growth, list its benefits and costs, and relate it to living standards Discuss the relationship among markets, specialization, and growth List five important sources of growth Explain how the sources of growth can be turned into growth 2 Growth and the Economy’s Potential Output Growth is an increase in potential output Potential output is the highest amount of output an economy can produce from existing production processes and resources Productivity is output per unit of input The long-run growth focus is on how to increase potential output Say’s

• Kinh tế học
• Lecture Macroeconomics
• Kinh tế vĩ mô
• Macroeconomic problems
• International macroeconomic policy issues
• Classical long run policy model
• Supply side policies
• Bài giảng Kinh tế vĩ mô
• Science of macroeconomics
• Data of macroeconomics
• Unemployment rate
• Inflation rate
• Principles of microeconomics
• Economic models
• Tools of microeconomics
• Microeconomic transactions
• Natural rate of unemployment
• Consumer price index
• National income
• Agriculture sector
• Agricultural policies
• Economic fluctuations
• Macroeconomic policy
• Business cycle theory