Exam 23: Economic Growth: Theory and Policy

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

Two of the three pillars of labor productivity growth responsible for the changes in the United States after 1995 are technological change and

Countries that adopt the most advanced technologies will have

Invention is

From 1979 to 2011, which country had the lowest growth rate of GDP per hour of work?

In contrast to the United States, countries like Japan and Germany have

Investment spending, capital formation, and rapid technological progress are directly related.

Which furniture production process would have the highest furniture prices?

Higher corporate profit taxes stimulate capital formation in the private sector.

Differences in growth rates cannot explain why

In most countries, primary and secondary education is the responsibility of the

Congress could encourage investment spending through changes in the

From 1973 to 1995, the growth rate of labor productivity in the United States was approximately

The definition of human capital refers to

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

The graph that relates hours of labor input to output is called the

College tuition expenses have risen from 1982 to 2012 by

Which of the following was not a factor in Japan's post-World War II economic success?

Productivity levels are higher in rich countries compared to poor countries.

When the economy devotes more of its resources to investment goods, it must devote fewer resources to consumer goods.