25Production and Growth教材.pptVIP

9 THE REAL ECONOMY IN THE LONG RUN Chapter 25 Production and Growth 25.1 Production and Growth A country’s standard of living depends on its ability to produce goods and services. 25.1 Production and Growth Within a country there are large changes in the standard of living over time. In the United States over the past century, average income as measured by real GDP per person has grown by about 2 percent per year. 25.1 Production and Growth Productivity refers to the amount of goods and services produced for each hour of a worker’s time. A nation’s standard of living is determined by the pr