Question 1

The US and other OECD countries had high levels of GDP per person in 2011 despite growing at a moderate rate from 1960 to 2011 because:

Accepted Answer

A) of exploitation of foreign countries. 
B) their economies had grown at a moderate rate for a century or more. 
C) they stole the wealth of less developed countries. 
D) all of the above. 
A) of exploitation of foreign countries. 
B) their economies had grown at a moderate rate for a century or more. 
C) they stole the wealth of less developed countries. 
D) all of the above.

Question 2

The Solow growth model shows that the growth rate of real GDP per worker depends on:

Accepted Answer

A) the saving rate, s 
B) government spending, G. 
C) the rate of inflation. 
D) all of the above. 
A) the saving rate, s 
B) government spending, G. 
C) the rate of inflation. 
D) all of the above.

Question 3

During the transition to the steady state in the Solow growth model:

Accepted Answer

A) the output per worker rises. 
B) the capital to labour ratio rises. 
C) the rate of growth of capital falls. 
D) all of the above. 
A) the output per worker rises. 
B) the capital to labour ratio rises. 
C) the rate of growth of capital falls. 
D) all of the above.

The US and other OECD countries had high levels of GDP per person in 2011 despite growing at a moderate rate from 1960 to 2011 because:

The Solow growth model shows that the growth rate of real GDP per worker depends on:

During the transition to the steady state in the Solow growth model:

Thinking About Macroeconomics

National-Income Accounting: Gross Domestic Product and the Price Level

Working With the Solow Growth Model

Conditional Convergence and Long-Run Economic Growth

Macroeconomics Without Microeconomic Foundations

Markets, Prices, Supply, and Demand

Consumption, Saving, and Investment

An Equilibrium Business-Cycle Model

Capital Utilization and Unemployment

The Demand for Money and the Price Level

Inflation, Money Growth, and Interest Rates

Government Expenditure

Taxes

Public Debt

Money and Business Cycles I: the Price-Misperceptions Model

Money and Business Cycles Ii: Sticky Prices and Nominal Wage Rates

World Markets in Goods and Credit

Exchange Rates

Filters

Exam 3: Introduction to Economic Growth

The US and other OECD countries had high levels of GDP per person in 2011 despite growing at a moderate rate from 1960 to 2011 because:

The Solow growth model shows that the growth rate of real GDP per worker depends on:

During the transition to the steady state in the Solow growth model:

Thinking About Macroeconomics

National-Income Accounting: Gross Domestic Product and the Price Level

Working With the Solow Growth Model

Conditional Convergence and Long-Run Economic Growth

Macroeconomics Without Microeconomic Foundations

Markets, Prices, Supply, and Demand

Consumption, Saving, and Investment

An Equilibrium Business-Cycle Model

Capital Utilization and Unemployment

The Demand for Money and the Price Level

Inflation, Money Growth, and Interest Rates

Government Expenditure

Taxes

Public Debt

Money and Business Cycles I: the Price-Misperceptions Model

Money and Business Cycles Ii: Sticky Prices and Nominal Wage Rates

World Markets in Goods and Credit

Exchange Rates

Filters