Exam 21: Productivity and Economic Growth

An engineering company has developed a gadget to help families control the amount of time their children watch TV. What would be an example of a technological spillover in this case? Technological reasons aside, how could this engineering company prevent this kind of technological spillover from occurring?

According to Solow's growth accounting formula, the growth rate of capital per hour of work is multiplied by one-third. This means that

If technology grows, output will rise by only a fraction of the increase.

Why is the model with both capital and labor not sufficient to explain growth in productivity?

Productivity is commonly defined as output per hour of work.

Most of the R&D funds in the United States are used to support pure science.

In the formula A)the share of capital income in aggregate income. B)the growth rate of output per hour worked that is due to the growth rate of technology. C)the growth rate of output per hour worked that is due to the rate of growth of capital per hour worked. D)the growth rate of capital per hour worked times the share of capital income in aggregate income. E)the growth rate of technology.

Institutions include all the following EXCEPT

Given the same amount of natural resources, which of the following conditions leads to a higher rate of economic growth?

Embodied technological change pertains to human capital investment.

Intellectual property laws arise as a result of

A sporting event is an example of a good that is

An increase in technology that increases labor productivity will lead to a rightward movement along the productivity curve.

Suppose that the capital stock grows more slowly than the labor force and there is no technological growth. This would cause

Which of the following government policies would encourage R&D, regardless of industry?

The slope times the change along the horizontal axis gives

Public radio is an example of a good that is

Which of the following statements concerning the United States' expenditures on research and development (R&D) is true?

In the formula A)the slope of the productivity function. B)the share of capital income in aggregate income. C)the investment share of GDP. D)the increase in productivity due to a change in the capital stock. E)the slope of the production function.

A shady bench on a hot day at a public park is an example of a good that is