Think in terms of world superpowers, today and centuries ago. Who were they then? Who are they now? When did the change occur?
Answer to relevant QuestionsWhat is/are the difference(s) between changes in real GDP and changes in real per capital GDP? How has world real per capita GDP changed over the past two millennia? Compare the per capita growth achievements by region. How do increases in labor skills affect labor pro ductivity? Give an example. Compare the classical and Keynesian views con cerning the demand for money. How does a bank end up with excess reserves? One way the Fed can increase the nation's money supply is by reducing the reserve requirement. Explain how this works. To illustrate, you can construct your own bank transactions and changes in the assets and liabilities of ...
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