In 1950’s and 60’s the average GDP per capita growth reached 8 % in Japan and approximately 3 % in USA. How this huge difference may be explained? Your arguments must be based on growth theory summarized by the production function.
In 1950’s and 60’s the average GDP per capita growth reached 8 % in Japan and approximately 3 % in USA. How this huge difference may be explained? Your arguments must be based on growth theory summarized by the production function.
Chapter16: Economic Growth
Section: Chapter Questions
Problem 3E
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In 1950’s and 60’s the average GDP per capita growth reached 8 % in Japan and approximately 3 % in USA. How this huge difference may be explained? Your arguments must be based on growth theory summarized by the production function.
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