Exam 7: Economic Growth: Theory and Policy

Mandated on-the-job training is seen in the United States mainly as a(n)

Identify the main reason to expect convergence in the long run.

The experience of the Soviet Union proves that higher education

Property rights uncertainty will usually cause

A country's level of productivity determines its

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

Which of the following countries would have the most difficulty raising its level of average educational attainment?

During the mid to late 1990s,the incentives for investment spending were provided by rising

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

The definition of human capital refers to

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

In 2009,which country had the highest level of GDP per hour of work?

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

The production function shifts upward as the capital stock increases.

The argument that rising energy prices caused the decline in U.S.productivity in the 1970s is made less believable due to the

The new growth theory emphasizes the critical role of ____ in modern economic growth.

A nation's capital consists mainly of stocks,bonds,and other financial assets.

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

How is human capital most commonly measured?

Human capital is the amount of