4. What is the key idea of classical growth theory.
5. Describe the 3 main theories of economic growth.
6. Explain the policies for achieving faster growth.
7. China’s trend growth rate of real GDP per person was 2.2 percent a year before 1980 and 8.7 percent a year after 1980. In the year to August 2009, China’s output increased by 11.3 percent. (Source : World Economic Otulook and FT.com, septembre 14,2009). Answer the following questions according to this information:
7a) Distinguis between a rise in China’s economic growth rate and a temporary cyclical expansion.
7b) How long, at the current growth rate, will it take for China to double its real GDP per person?.
7c) What happen to the real GDP per person in 2020?
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