Exam 24: Economic Growth: Theory and Policy

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

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

Which furniture production process would have the highest furniture prices?

The wealthy nations of the world have

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

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

How is human capital most commonly measured?

The shrinking gap between the income levels of poor and rich countries is known as the

One reason given for the U.S.productivity slowdown in the period from 1973-1995 was

Labor productivity growth in the United States during the 1973-1995 period could be explained by a ____ slowdown.

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

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

A constant contributor to labor productivity growth during the entire 1948-2000 period was

Most of the investment decisions in the U.S.economy are made by

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

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

One of the factors causing the shrinking gap between rich and poor countries is

The type of human capital formation that occurs in the business sector is called

As the level of real interest rates rise, the amount of new investment will rise also.

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