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3 Tutorials that teach Sustainable Economic Growth
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Sustainable Economic Growth

Sustainable Economic Growth

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Author: Dan Laub
Description:
This lesson covers the Sustainable Economic Growth
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Tutorial

Notes for "Sustainable Economic Growth"

 Key Terms

  • Sustainability
  • The ability to utilize resources in the current timeframe without sacrificing the opportunity for future use and without disturbance to the ecosystem.
  • Economic Growth
  • Measure of the change in real GDP over periods of time; percent change in value of the sum of goods and services produced in a country’s natural borders over a specified time interval.
  • LRAS
  • Long-run aggregate supply is assumed to be constant in the long-run as in the long-run resources are assumed to be used optimally, leaving no potential for increasing capacity. LRAS is a vertical curve.
  • Real GDP
  • Gross domestic product adjusted for inflation-show real growth between periods holding price level constant (also know as RGDP)