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The charts below show the growth rates of the real GDP for four coun- tries: (i) the United States, (ii) Japan, (iii) France, and (iv) Germany

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The charts below show the growth rates of the real GDP for four coun- tries: (i) the United States, (ii) Japan, (iii) France, and (iv) Germany. In each chart, the dashed line displays the short-run fluctuations (business cycles) of the real GDP growth while the solid line shows the long-run trend of the real GDP growth of the corresponding country. The average real GDP growth falls over time (although at different pace) in each country, as can be seen from the charts below. Which factors might potentially cause slower economic growth in the long-run in these countries? Explain these factors clearly. FRED 100 -- Real GDP at Constant National Prices for United States FRED - Real GDP at Constant National Prices for japan 125 100 oby 7.5 Percent Change from a go 25 mytredink Source: University of Groningen FRED - Real GOP Constant National Prices for France 100 Source: University of Groningen - Real GDP at Constant National Prices for Germany FRED 125 100 ??? ??? ? ? ? Percent room Yar Ago ????????????????? 25 0 as S. -75 3160 1970 2000 1970 2000 Source: University of Groningen Source: University of Groningen