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1、EconomicGrowth,Productivity,andLivingStandards1Chapter7:EconomicGrowht,Productivity,andLivingStandardsImportantConceptsCompoundinterest复利Diminishingreturnstocapital资本收益递减Entrepreneur企业家2Chapter7:EconomicGrowht,Productivity,andLivingStandardsChapteroutlineThesour
2、cesofeconomicgrowthandrisinglivingstandardsinthemodernworldAnalyzeeachoftherefactorsanddiscussitsimplicationsforgovernmentpoliciestopromotegrowth3Chapter7:EconomicGrowht,Productivity,andLivingStandardsIntroduction“Whichwouldyouratherbe?Anordinary,middleclassAmer
3、icanlivingtoday,ortherichestpersoninAmericaatthetimeofGeorgeWashington?”4Chapter7:EconomicGrowht,Productivity,andLivingStandardsYoucanthinkofenormouschangeinthewayaveragepeopleliveThesechangesaredueinlargeparttoscientificadvances.Newscientificknowledgeleadstowid
4、espreadimprovementsinlivingstandardsonlywhenitiscommerciallyapplied11Chapter7:EconomicGrowht,Productivity,andLivingStandardsⅠ.theremarkableriseinlivingstandards:therecordCompoundinterestWhynationsbecomerich:thecrucialroleofaveragelaborproductivity12Chapter7:Econ
5、omicGrowht,Productivity,andLivingStandardsRealGDPperPersonInSelected Countries,1870-2003(in2000U.S.Dollars)CountryAustralia5,5127,2369,36917,67028,3121.22.1Canada2,3285,5098,90619,88229,2011.92.3France2,2914,4846,16418,13826,1761.82.8Germany1,1522,2184,78517,222
6、25,2712.33.2Italy2,8524,0185,12816,91225,4581.73.1Japan9311,7632,14116,32926,6362.64.9UnitedKingdom3,8925,9768,70916,55726,8521.52.1UnitedStates2,8876,85212,11022,83535,4881.92.0Annual%change1950-2003Annual%change1870-20031870191319501979200313Chapter7:EconomicG
7、rowht,Productivity,andLivingStandardsRealGDPperPersoninFiveIndustrializedCountries,1870-200314Chapter7:EconomicGrowht,Productivity,andLivingStandardsObservationThevariety,quality,andquantityofgoodsandservicesincreasedenormouslyduringthe19thand20thcenturies,asref
8、lectedinrealpercapitaGDP.15Chapter7:EconomicGrowht,Productivity,andLivingStandardsRealGDPperPersonInSelected Countries,1870-2000(in1995U.S.Dollars)CountryAustralia5,6
