Teacher resources and professional development across the curriculum

Teacher professional development and classroom resources across the curriculum

Monthly Update sign up
Mailing List signup
Search
Follow The Annenberg Learner on LinkedIn Follow The Annenberg Learner on Facebook Follow Annenberg Learner on Twitter

Unit 12 — Economic Growth

Play Program

Purpose:

To show two of the major determinants of the economy’s growth in the 20th century, and to examine whether the continuation of growth is threatened by the depletion of natural resources.

Objectives:

  1. Approximately one third of the growth in output per person is due to the increasing quantity of capital per worker and economies of scale.
  2. Technological change may account for as much as half of the economy’s growth.
  3. Scarcity of natural resources may impede economic growth but such scarcities have been overcome in the past.

    1. Prices will increase for resources that become scarce, encouraging conservation and substitution.
    2. New technologies may reduce the economy’s dependence on the depleted resources.

Audio and Transcripts

Meet the Series Experts

GO >>
Rob Atkinson

Rob Atkinson

Founder and President of the Information Technology and Innovation Foundation (ITIF), a policy think tank.

See full bio
Jay Forrester

Jay Forrester

Pioneer computer engineer and “systems” scientist, regarded as the founder of “system dynamics.”

See full bio
Henry C. Wallich

Henry C. Wallich

Member of President Dwight D. Eisenhower’s Council of Economic Advisers, 1959–1961, and a Governor of the Federal Reserve System, 1974–1986.

See full bio

Study Tools

Calculator

Calculator

Use this web-based calculator to aid in your studies.

WHAT’S YOUR
ECONOMICS IQ?

  1. Suppose that per capita net national product (NNP) begins an annual decline this year by 1%. What impact, if any, is this decline likely to have upon our living standards 20 years from now?

    It will substantially diminish the quality of living standards by slowing economic growth.

    NEXT QUESTION
  2. Thomas Malthus believed that the world’s population would be controlled MAINLY by...

    The natural limitations of finite resources. Malthus believed that other factors, such as war and disease, would also curb population; however, he believed the main factor would be the effect of limited resources on the standard of living.

    NEXT QUESTION
  3. Economist David Ricardo tended to favor the concept of specialization MAINLY because he saw it as a way to...

    Increase the efficient use of resources. Ricardo believed in efficiency, but did not really believe there was a way to raise the standard of living above subsistence levels because he subscribed to the theories of Malthus. Ricardo did not favor domination by any class.

    NEXT QUESTION
  4. Other inputs being held constant, the curve for the marginal product of capital will tend to...

    slope downward to the right.

    NEXT QUESTION
  5. Current evidence suggests strongly that industrial nations with relatively high investment rates also tend to have...

    higher rates of economic growth.

    NEXT QUESTION
  6. Which of the following would Henry Ford probably have agreed with most strongly?

    The capital-labor ratio has a major impact on efficiency.

    RESTART QUIZ

Glossary

GO >>

Key Terms

© Annenberg Foundation 2014. All rights reserved. Legal Policy