Exam 8: Why Do Economies Grow

Recall Application 6, "Culture, Evolution, and Economic Growth," to answer the following questions: -According to the application, the main difference in the findings between Professor Clark's research to those of Galor and Moav was that the sources of evolution according to:

Recall Application 2, "Growth Need Not Cause Increased Inequality," to answer the following questions: -According to the application, the U.S. experience refutes Kuznets' theory because:

Recall Application 6, "Culture, Evolution, and Economic Growth," to answer the following questions: -The application claims that the source of the cultural changes that may have sparked the industrial revolution was:

Convergence refers to the hypothesis that:

A person who is going to college is accumulating:

What does a negative net investment mean? How will it affect the country's economic growth?

Recall Application 2, "Growth Need Not Cause Increased Inequality," to answer the following questions: -According to the application, what caused the reduction of inequality in the U.S. during World War II?

Foreign investment can increase a country's capital stock.

Governments in developing countries can hinder economic growth by:

Economic growth is generally defined as an increase in nominal GDP per capita.

If the capital- labor ratio of an economy decreases, ceteris paribus:

Which of the following is a public investment in infrastructure?

Economic growth is best measured by the increase in:

Recall Application 3, "Sources of Growth in China and India," to answer the following questions: -According to the application, which country has a low GNP per capita relative to the U.S.?

Explain how the lack of clear property rights can impede economic growth.

Figure 8.3 -Refer to Figure 8.3. Moving from point A to point B requires:

Assuming a constant level of capital in the economy, a rapid increase in population is likely to:

The only source of economic growth is growth in the number of workers in the economy.

Which of the following is not considered investment in human capital?

One way that the government can encourage economic growth is by implementing policies that encourage: