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FIGURES FOR

CHAPTER 3

RELATIONSHIPSBETWEEN

VARIABLES

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Figure 3.1Production costs and output are positively correlated.

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Figure 3.2

Labor productivity and capital per worker are positively correlated.

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Figure 3.3

Electricity consumption, household income, and price.

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Figure 3.4U.S. unemploymentand inflation rates.

Open circles, 1953–1970; triangles, 1971–1983;solid circles, 1984–1996.

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Figure 3.5National living standards are related positively to saving rates and negatively to population growth rates.

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Figure 3.6Growth versus initial GDP per worker, 1960–1985.Source: Reprinted from the Handbook of Macroeconomics, Vol. IA, E.R. McGrattan and J.A. Schmitz, Jr.‘‘Explaining Cross-Country Income Differences,’’ p. 676, c 1999, with permission from Elsevier.

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Figure 3.7Population in Canada, the United Kingdom, and the United States, 1950–1992.

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Figure 3.8

Population in Canada, the U.K., and the U.S., 1950–1992.