Exam 7: Economic Growth Theory And Policy

For given inputs of labor and capital,if technology is better,labor productivity will be

Higher energy prices can be used to explain the productivity slowdown in the period from

The productivity speed-up in the United States began in the

Long-term productivity growth trends have resulted in the

The profitability of an investment project will increase if

Low levels of sales that cause low levels of investment spending is an example of a

The new growth theory emphasizes the critical role of ____ in modern economic growth.

In 2010 President Obama proposed more generous tax write-offs for businesses that invest in additional equipment in order to stimulate investment spending.

In general,as productivity levels decrease,the potential for productivity growth

More education and training usually lead to higher levels of

In general,countries with lower rates of growth of labor productivity have

Compared to the 1948 to 1973 period,the period from 1973 to 1995 can be characterized as a period of

In 2010,in order to stimulate capital investment,President Obama proposed

A recession will occur if an economy's actual GDP ____ its potential GDP.

In the United States,the average level of educational attainment is approximately a

What is convergence hypothesis? Why should we expect convergence in the long run?

In 2008-2009 the U.S.economy provided a

Capital is a(n)____ variable and investment is a(n)____ variable.

In 2011,which country had the highest level of GDP per hour of work?

By enjoying more consumer goods today,the economy spurs growth in future consumer goods.