Exam 7: Economic Growth: Theory and Policy

The profitability of an investment project will decrease if

Given the economy's existing resources and technology,the only way to enjoy more consumer goods today is to

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

Compared to college tuition,the prices of automobiles in the United States have

According to the cost disease of the personal services,service activities that require direct personal contact

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

Governments in market economies usually have significant control over

The lessons of the Japanese recovery were most successfully repeated by

Poor health in developing countries encourages economic growth because working is a matter of life and death.

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

The wealthy nations of the world have

Compared to the 1948 to 1973 period,the period from 1973 to 1995 can be characterized as a period of

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

Some politicians argue that reducing the corporate income tax will increase business investment spending.

Devoting more of a country's resources for producing consumer goods means

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

The process of innovation is the act of

The U.S.government attempts to spur research and development activities through

A superior level of technology is an important reason the productivity of workers in rich countries is high.

When the difference between potential GDP and actual GDP increases,the nation usually suffers from increased inflation.