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After reading this chapter, you should be able to:

1. List two ways that economic growth is measured.
2. Define "modern economic growth" and explain the institutional structures needed for an economy to experience it.
3. Identify the general supply, demand, and efficiency forces that give rise to economic growth.
4. Describe "growth accounting" and the specific factors accounting for economic growth in the United States.
5. Explain why the trend rate of U.S. productivity growth has increased since the earlier 1973-1995 period.
6. Discuss differing perspectives as to whether growth is desirable and sustainable.