What Are the "Ingredients" for Economic Growth? (Page One Economics)
Is there a recipe for economic growth? Perhaps some Miracle-Gro for the economy? If only it were that easy. While the exact recipe is a mystery, economists have identified some of the key ingredients. The September 2013 issue discusses the role that economic institutions play in fostering long-term economic growth.
Graphs compliments of FRED.
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Production Possibilities Frontier, Gross Domestic Product (GDP), Scarcity, Physical Capital, Factors of Production/Productive Resources, Human Capital, Productivity