What Are the Four Major Factors Responsible for Long-Run Economic

question 56

Essay

What are the four major factors responsible for long-run economic growth? On what does Romer's new growth theory focus?

---

Definitions:

EEG

Electroencephalography, a noninvasive method to record electrical activity of the brain used in the diagnosis of neurological disorders, sleep disorders, and for research in neuroscience.

First Stage

In psychology, it refers to the initial phase of a developmental process or therapy, where foundational skills or behaviors are established.

NREM Sleep

Non-Rapid Eye Movement sleep, characterized by slower brain waves than during REM sleep, and comprising about 75-80% of an adult's total sleep time, important for memory consolidation.

REM Behavior Disorder

A sleep disorder characterized by the acting out of dreams that are vivid, intense, and sometimes violent, due to a lack of muscle paralysis during REM sleep.