Exam 17: Growth and Productivity: Long-Run Possibilities

Approximately how long would it take for real GDP to double if it grew at a constant annual rate of 2 percent?

The most common measure of productivity is output per

If real GDP rises from $700 billion to $704 billion,the economic growth rate is

In order to shift the current production possibilities curve outward,an economy

Table 17.1 Year Real GDP Population 1 \ 575 billion 22 million 2 \ 580 billion 24 million 3 \ 605 billion 25 million 4 \ 606 billion 27 million Refer to Table 17.1.From year 3 to year 4,real GDP per capita

Growth in real GDP per capita is achieved when population grows more rapidly than output.

The idea that the U.S.economy would continue to experience rapid gains in productivity and GDP growth was interrupted in 2001.

Table 17.1 Year Real GDP Population 1 \ 575 billion 22 million 2 \ 580 billion 24 million 3 \ 605 billion 25 million 4 \ 606 billion 27 million Refer to Table 17.1.GDP per capita in year 1 was

GDP per capita is

Countries that have higher saving rates are likely to have

Growth in GDP per capita is attained when

Human capital is

Which of the following would not increase labor productivity,ceteris paribus?

In recent decades,a primary source of growth in U.S.output has been

In the short run,movement toward a fixed production possibilities curve comes from

The number of years it takes for GDP to double is found by

Assume the real U.S.GDP in 1997 was $7,269 billion and the U.S.population was 268 million,and the real U.S.GDP in 1998 was $7,552 billion and the U.S.population was 270 million.From 1997 to 1998,the per capita real GDP

Corporations in the United States spend a lot of money to familiarize management with global markets.This should

A shift from LRAS₁ to LRAS₂ in Figure 17.6 indicates that

Which of the following could impede productivity improvements?