Macro and Micro Economics - Assignment Example

The United States is endowed with massive natural resources, Presence of a human resource that provides work force for its industries. These are among the factors that boost its national income and hence economic growth. A strong currency was also another factor for growth of the US economy. Consumption of goods is also key to growth and there has been a huge consumption of goods by residents of the US. Factors that would have caused lower growth in those countries would include government policy, adult education .

A huge educated population is also critical in fuelling economic growth. (Wooldridge, 2009, p.7) (b) Estimate the following model of the average growth rate of income per worker.(** strong significance p