Exam 7: Economic Growth Theory And Policy

What is the "cost disease of personal services" phenomenon and why does it help explain why tuition rates keep going up so fast?

The act of discovering a new production process would be called

There is now general agreement among economists regarding the sources of the U.S.productivity slowdown that occurred between 1973 and 1995.

Human capital differs from physical capital in that

The fastest growing productivity increases in the United States have occurred in the personal services sector.

Which of the following countries would find it easiest to achieve rapid growth in per capita GDP?

On a graph with time on the horizontal axis and real GDP per capita on the vertical axis,the income levels of poorer countries are

Workforce quality arguments are very difficult to prove for the period of 1970 to 1990 because during that period SAT scores

Higher rates of investment spending contribute most to higher levels of

Getting more output from a given amount of inputs is usually the result of increases in

Which furniture production process would have the highest production function?

Because business firms often finance new investments with borrowed money,a key determinant of investment spending is

What determines the productivity growth rates of a country?

The productivity speed-up in the United States could be explained by

With regard to investments in human capital,China has been

In most rich countries,adult citizens typically have a

Human capital includes the tools and equipment that human beings work with.

The wealthy nations of the world have

College tuition expenses have risen from 1982 to 2012 by

The definition of human capital refers to