Exam 23: Economic Growth: Theory and Policy

The improvement in human capital can be shown by a(n)

Economists are still puzzled why growth rates in the United States fell from 1973 to 1995.

As the amount of capital to laborers increases, labor productivity diminishes.

In 2011, which country had the highest level of GDP per hour of work?

Governments in market economies usually have significant control over

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

Which furniture production process would have the highest production function?

U.S.government policy to stimulate research and development activities would be most likely to succeed if it involved

Real wages usually lag behind the increases in labor productivity.

In order for a country to achieve more consumer goods in the future, it must

Capital investment becomes more profitable for a business firm as the real interest rate decreases.

According to the convergence hypothesis, as the rate of technological adoption rises in poorer countries,

Research and development refers to

From 1973 to 1995, productivity of labor in the United States

Advancements in information technology can be used to explain the

Human capital includes the tools and equipment that human beings work with.

Which business would have the lowest costs per record album sold?

In order to improve living standards for future generations, the economy must

According to the convergence hypothesis, as a country grows wealthier, its productivity growth rate will slow down.

College tuition costs have risen faster than prices in general from 1979 to 2009.