What's it: Total factor productivity quantifies the share of economic growth not explained by increases in labor and capital when both are used
Long Run Economic Growth
Capital Deepening: Meaning, Determinants, and Impacts
What's it: Capital deepening is an investment to increase the capital-to-labor ratio. It is one of our ways to encourage economic growth and
Aggregate Hours Worked: How to Calculate and Impact on the Economy
What's it: Aggregate hours worked refers to the total number of hours worked by the labor force in an economy during a given period. It
Harrod-Domar Model: Formula, Assumptions, Importance, Limitations
What’s it: The Harrod-Domar model is an economic growth model that uses saving and investment as growth sources. The model takes two economists,
Solow Growth Model: Concept and Formula
What's it: Solow growth model is a long-term model of economic growth by looking at three main factors, namely capital accumulation, labor growth, and