SparkNotes: Economic Growth: Problems

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Problems

Problem 1.1:

What is the only thing that makes an economy grow in the long run?

[Solution]

Problem 1.2:

How do firms produce output?

[Solution]

Problem 1.3:

What types of things make up the general category of capital?

[Solution]

Problem 1.4:

How are the growth level and the growth rate different?

[Solution]

Problem 1.5:

Why is the distinction between growth level and growth rate important?

[Solution]

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