Question

Between 1950 and the mid-1990s, the united states experienced a much larger increase in the standard of living than the soviet union. This difference can be most attributed to the fact that the u.S

Answer 1

Answer:

The rule of 70

is a mathematical formula that is used to calculate the number of years it takes real GDP per capita or any other variable to double.

The two key factors that cause labor productivity to increase over time are

the quantity of capital per hour worked and the level of technology