Measuring economic growth
The production function
Sources of economic growth
1. Physical capital accumulation
2. Human capital accumulation
3. Technological progress
4. Natural resources
Growth and the PPC
Economic growth shifts the PPC outward
Growth and the LRAS
Economic growth shifts LRAS to the right
The rule of 70
Diminishing returns to capital
Convergence hypothesis
Key vocabulary
AP Exam Tips
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Common Mistakes
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