PrdcinandGrwh生产与成长.pptVIP

Production and Growth生產與成長 Chapter 25 Production and Growth A country’s standard of living depends on its ability to produce goods and services. Production and Growth Within a country there are large changes in the standard of living over time. Production and Growth 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. 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 productivity of its workers