Based on the graphs created, the countries selected showed differences in economic growth. Some countries had higher GDP per capita than others over the time periods analyzed. The graphs also provided statistical information about factors like human capital, physical capital, and economic freedom that supported different rates of growth across the countries. Reviewing the concepts of capital deepening, human capital, and economic freedom can help draw conclusions about why some nations experienced greater increases in GDP per person.

1. Economic
GROWTH Part 3

2. Look at the three graphs you created.
Answer the following question:
What conclusions can you draw
about the countries you
selected based on information
in the graphs you created?
Include some of the statistical information
you discovered to support your answer.

3. REVIEW:
THE “RECIPE FOR GROWTH”

4. REVIEW:
HUMAN CAPITAL
The skills and education of workers.

5. CAPITAL DEEPENING:
Increasing human or physical capital.
The aggregate economy can experience capital
deepening when the economy shows a higher
level of physical or human capital per person.

6. CAPITAL DEEPENING:
Human and physical capital are equally important to growth.

7. ECONOMIC FREEDOM:
The freedom to choose how to produce, sell, and use
your own resources, while respecting others' rights to do
the same. The Fraser Institute publishes an annual report
called “The Economic Freedom of the World.”
Better
Worse