Causes Of Economic Growth (1 Viewer)

[Toranilor]

Hey all,

I have an 'Economic Issues' exam coming up, but I accidentally 'recycled' my early economics notes.

More specifically, I'm missing the causes of economic growth. As my textbook isn't much help, does anyone have a short-ish summary of the causes of economic growth that I can use to supplement my study?

-Thanks!

 

[hinow2008]

Hey all,

I have an 'Economic Issues' exam coming up, but I accidentally 'recycled' my early economics notes.

More specifically, I'm missing the causes of economic growth. As my textbook isn't much help, does anyone have a short-ish summary of the causes of economic growth that I can use to supplement my study?

-Thanks!

The causes of economic growth link to a rise in any components of aggregate demand

Knowing AD = C + I + G + (X-M)

Briefly, each of the components are increased by:

Consumption - earning more income, lower interest rates, less taxation

Investment - lower interest rates, decline in productivity of labour or rise in wages (makes capital more attractive), government policies (eg: deductions on capital), global economic conditions, expected rise in demand for products

Government spending - any rise in gov spending or decline in taxation levels

Net exports - global economic conditions, exchange rate depreciation (makes exports less expensive and imports more expensive), international incomes (makes our exports more attractive), lower domestic incomes (declines demand for imports), increase in our international competitiveness


hope this helps

 

[Garygaz]

taxing the mining industry causes economic growth. put it in your exam and use kevin rudd as your source. let lulz ensue.

 

[azzi021]

If I can correctly recall, it would be technological advances,that is machinery and equipment more efficient

& expanding resource supplies..

Good luck.

 

[hinow2008]

taxing the mining industry causes economic growth. put it in your exam and use kevin rudd as your source. let lulz ensue.

yes you're right he called a spade of spade

if u dont believe him then youre talking absolute balderdash

 

[Toranilor]

taxing the mining industry causes economic growth. put it in your exam and use kevin rudd as your source. let lulz ensue.

Actually, My eco teacher is all for K'Rudd's mining tax, might get me some points with him. He actually kinda looks like trollface, too.


Managed to get the info I needed, thanks for the responses!