Exam 7: Economic Growth: Theory and Policy

Productivity growth rates in the United States have remained fairly constant from 1948 to 2000.

Draw a production function and illustrate the effects of capital investment and technological improvement on labor productivity.

The profitability of an investment project will increase if

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

Higher rates of productivity growth are most closely associated with higher rates of

In contrast to poorer countries,most residents of middle-income countries will have

Labor productivity rises as the amount of capital available to workers increases.

The process of research and development

All other things being equal,a greater supply of scientists and engineers will increase the level of technology.

The new growth theory helps attract foreign students to study in

The labor productivity speed-up in the United States could be explained by a delayed

Define the following terms: a.Human capital b.Investment c.Capital formation d.Property rights

Productivity increases are most likely to be achieved by

One reason given for the U.S.productivity slowdown in the period from 1973-1995 was

Development assistance is designed to encourage a developing country to

As the economy becomes more technologically sophisticated,the wage premium can be expected to

Technological change in modern societies is most likely the result of increases in

From 1973 to 1995,productivity of labor in the U.S.

Workforce quality arguments are very difficult to prove for the period of 1970 to 1990 because during that period SAT scores

Capital is a(n)____ variable and investment is a(n)____ variable.