Question 1

From 1973 to 1995,productivity of labor in the U.S.

Accepted Answer

A)  declined because of reduced capital formation. 
B)  declined because of slower technological improvement. 
C)  increased because of expanded technological improvement 
D)  increased because of expanded technological improvement. 
A)  declined because of reduced capital formation. 
B)  declined because of slower technological improvement. 
C)  increased because of expanded technological improvement 
D)  increased because of expanded technological improvement.

Question 2

Investment is a(n)____ and capital is a(n)____ variable.

Accepted Answer

A)  physical,financial 
B)  stock,flow 
C)  asset,liability 
D)  flow,stock 
A)  physical,financial 
B)  stock,flow 
C)  asset,liability 
D)  flow,stock

Question 3

For a given technology,a higher capital stock will decrease labor productivity.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A)  educational benefit. 
B)  technology benefit. 
C)  military spending benefit. 
D)  baby boom benefit. 
A)  educational benefit. 
B)  technology benefit. 
C)  military spending benefit. 
D)  baby boom benefit.

Question 5

Compared to workers in richer countries,workers in developing countries have

Accepted Answer

A)  lower productivity and lower wages. 
B)  higher productivity and higher wages. 
C)  higher productivity but lower wages. 
D)  the same productivity but lower wages. 
A)  lower productivity and lower wages. 
B)  higher productivity and higher wages. 
C)  higher productivity but lower wages. 
D)  the same productivity but lower wages.

Question 6

In the United States,the wage premium for college education has been

Accepted Answer

A)  decreasing since 1980. 
B)  increasing since 1980. 
C)  higher for males. 
D)  decreasing since 1990. 
A)  decreasing since 1980. 
B)  increasing since 1980. 
C)  higher for males. 
D)  decreasing since 1990.

Question 7

In general,as the amount of labor input increases,the amount of output

Accepted Answer

A)  increases. 
B)  decreases. 
C)  remains constant. 
D)  increases only if the capital stock also increases. 
A)  increases. 
B)  decreases. 
C)  remains constant. 
D)  increases only if the capital stock also increases.

Question 8

A productivity increase is illustrated by a shift in the production function

Accepted Answer

A)  downward. 
B)  leftward. 
C)  upward. 
D)  rightward. 
A)  downward. 
B)  leftward. 
C)  upward. 
D)  rightward.

Question 9

Capital gains are profits that you earn on the sale of your

Accepted Answer

A)  labor. 
B)  money. 
C)  financial asset. 
D)  economics textbook. 
A)  labor. 
B)  money. 
C)  financial asset. 
D)  economics textbook.

Question 10

The productivity slowdown in the U.S.from 1973 to 1995

Accepted Answer

A)  can be explained easily with economic theory. 
B)  continued into the third millennium. 
C)  still confuses economists. 
D)  was a continuation of the slowdown from 1948 to 1973. 
A)  can be explained easily with economic theory. 
B)  continued into the third millennium. 
C)  still confuses economists. 
D)  was a continuation of the slowdown from 1948 to 1973.

Question 11

The Human Genome Project is a useful example of

Accepted Answer

A)  private sector research and development. 
B)  government-conducted research. 
C)  household research. 
D)  a and B 
A)  private sector research and development. 
B)  government-conducted research. 
C)  household research. 
D)  a and B

Question 12

The act of putting a new product on the market in order to make profits is called

Accepted Answer

A)  invention. 
B)  innovation. 
C)  investment. 
D)  development. 
A)  invention. 
B)  innovation. 
C)  investment. 
D)  development.

Question 13

The slowing of the American economy in 2008-2009 gave businesses a strong incentive to raise capital investment.

Accepted Answer

A) True 
 B)False

Question 14

The term "capital formation" actually implies adding new equipment to a nation's factories.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following countries has the highest level of average educational attainment?

Accepted Answer

A)  Canada 
B)  Italy 
C)  India 
D)  Sudan 
A)  Canada 
B)  Italy 
C)  India 
D)  Sudan

Question 16

Several countries in the world have failed to "converge" with industrialized countries.What does this mean about their economic growth rates? Explain why poorer countries have failed to "catch up",in terms of the pillars of economic growth.Are there any special problems facing these countries?

Accepted Answer

If a poor country fails to converge,this

Question 17

Industrialized countries generally have higher levels of educational attainment compared with poorer countries.

Accepted Answer

A) True 
 B)False

Question 18

Development assistance is designed to spur population growth in poor countries.

Accepted Answer

A) True 
 B)False

Question 19

The process of invention is the act of

Accepted Answer

A)  introducing a new product into the market. 
B)  applying a process in a new area of the market. 
C)  discovering a new process or product. 
D)  adopting an innovation to a profitable use. 
A)  introducing a new product into the market. 
B)  applying a process in a new area of the market. 
C)  discovering a new process or product. 
D)  adopting an innovation to a profitable use.

Question 20

Which of the following countries has the lowest level of average educational attainment?

Accepted Answer

A)  Canada 
B)  Italy 
C)  India 
D)  Sudan 
A)  Canada 
B)  Italy 
C)  India 
D)  Sudan

From 1973 to 1995,productivity of labor in the U.S.

Investment is a(n) and capital is a(n) variable.

For a given technology,a higher capital stock will decrease labor productivity.

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

Compared to workers in richer countries,workers in developing countries have

In the United States,the wage premium for college education has been

In general,as the amount of labor input increases,the amount of output

A productivity increase is illustrated by a shift in the production function

Capital gains are profits that you earn on the sale of your

The productivity slowdown in the U.S.from 1973 to 1995

The Human Genome Project is a useful example of

The act of putting a new product on the market in order to make profits is called

The slowing of the American economy in 2008-2009 gave businesses a strong incentive to raise capital investment.

The term "capital formation" actually implies adding new equipment to a nation's factories.

Which of the following countries has the highest level of average educational attainment?

Several countries in the world have failed to "converge" with industrialized countries.What does this mean about their economic growth rates? Explain why poorer countries have failed to "catch up",in terms of the pillars of economic growth.Are there any special problems facing these countries?

Industrialized countries generally have higher levels of educational attainment compared with poorer countries.

Development assistance is designed to spur population growth in poor countries.

The process of invention is the act of

Which of the following countries has the lowest level of average educational attainment?

What Is Economics

The Economy Myth and Reality

The Fundamental Economic Problem Scarcity and Choice

Supply and Demand An Initial Look

An Introduction To Macroeconomics

The Goals Of Macroeconomic Policy

Aggregate Demand and The Powerful Consumer

Demand Side Equilibrium Unemployment Or Inflation

Bringing In The Supply Side Unemployment and Inflation

Managing Aggregate Demand Fiscal Policy

Money and The Banking System

Monetary Policy Conventional and Unconventional

The Financial Crisis and The Great Recession

The Debate Over Monetary and Fiscal Policy

Budget Deficits In The Short and Long Run

The Trade Off Between Inflation and Unemployment

International Trade and Comparative Advantage

The International Monetary System Order Or Disorder

Exchange Rates and The Macroeconomy

Filters

Exam 7: Economic Growth Theory And Policy

From 1973 to 1995,productivity of labor in the U.S.

Investment is a(n)____ and capital is a(n)____ variable.

For a given technology,a higher capital stock will decrease labor productivity.

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

Compared to workers in richer countries,workers in developing countries have

In the United States,the wage premium for college education has been

In general,as the amount of labor input increases,the amount of output

A productivity increase is illustrated by a shift in the production function

Capital gains are profits that you earn on the sale of your

The productivity slowdown in the U.S.from 1973 to 1995

The Human Genome Project is a useful example of

The act of putting a new product on the market in order to make profits is called

The slowing of the American economy in 2008-2009 gave businesses a strong incentive to raise capital investment.

The term "capital formation" actually implies adding new equipment to a nation's factories.

Which of the following countries has the highest level of average educational attainment?

Several countries in the world have failed to "converge" with industrialized countries.What does this mean about their economic growth rates? Explain why poorer countries have failed to "catch up",in terms of the pillars of economic growth.Are there any special problems facing these countries?

Industrialized countries generally have higher levels of educational attainment compared with poorer countries.

Development assistance is designed to spur population growth in poor countries.

The process of invention is the act of

Which of the following countries has the lowest level of average educational attainment?

What Is Economics

The Economy Myth and Reality

The Fundamental Economic Problem Scarcity and Choice

Supply and Demand An Initial Look

An Introduction To Macroeconomics

The Goals Of Macroeconomic Policy

Aggregate Demand and The Powerful Consumer

Demand Side Equilibrium Unemployment Or Inflation

Bringing In The Supply Side Unemployment and Inflation

Managing Aggregate Demand Fiscal Policy

Money and The Banking System

Monetary Policy Conventional and Unconventional

The Financial Crisis and The Great Recession

The Debate Over Monetary and Fiscal Policy

Budget Deficits In The Short and Long Run

The Trade Off Between Inflation and Unemployment

International Trade and Comparative Advantage

The International Monetary System Order Or Disorder

Exchange Rates and The Macroeconomy

Filters

Investment is a(n) and capital is a(n) variable.