Exam 24: Economic Growth: Theory and Policy

Part of the tremendous growth in China can be attributed to

Which price would you expect to rise the most in a high-income growing economy?

The definition of human capital refers to

Productivity growth rates are usually higher in rich countries than in poor countries.

Improvements in the level of technology will generally shift the production function downward.

Workforce explanations of the productivity changes in the 1973-1995 period include

The lack of a universal productivity effect of higher education was demonstrated by the experience of

Define the following terms: a.Human capital b.Investment c.Capital formation d.Property rights

Development assistance is designed to encourage a developing country to

Productivity growth rates in the United States have remained fairly constant from 1948 to 2000.

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

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

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

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

Lower levels of education and training are often associated with low levels of

A country's level of well being is determined primarily by its level of

Explain the ways in which the government can persuade private businesses to invest more in order to speed up the process of capital formation?

Which of the following would tend to shift the production function upward?

From 1979, which country had the lowest growth rate of GDP per hour of work?

Give some possible explanations of the productivity slowdown in the United States that occurred in the 1973-1995 period.