布兰查得 宏观经济 第十章.pptVIP

The Facts of Growth We now turn from the determination of output in the short and medium run—where fluctuations dominate—to the determination of output in the long run—where growth dominates. Growth is the steady increase in aggregate output over time. Growth in RichCountries Since 1950 Growth in RichCountries Since 1950 Output per capita equals GDP divided by population. The standard of living depends on the evolution of output per capita, not total output. To compare GDP across countries, we use a common set of prices for all countries. Adjusted real GDP numbers are measures of purchasi