Exam 7: Economic Growth: Theory and Policy

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

The act of putting a new product on the market in order to make profits is called

Development assistance is designed to spur population growth in poor countries.

Improvements in human capital and education played a major role in the productivity improvements of the U.S.economy from 1995 to 2009.

Which of the following was not a factor that contributed to improved productivity from 1995 to 2009?

Technological change was a major contributor to the productivity speed-up from 1995-2000.

The phrase "capital formation" is synonymous with

Which of the following would a macroeconomist classify as capital?

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

High levels of sales that spur high levels of investment spending is an example of a

Imitation is not only the highest form of flattery but also an easier way for poorer countries to develop new technology.

Imitation as a strategy for acquiring new technology is based on the difference in effort between

The slowing of the American economy in 2008-2009 gave businesses a strong incentive to raise capital investment.

In general,as the amount of labor input increases,the amount of output

The application of new technology refers to

Which of the following services have experienced declines in relative prices due to productivity increases?

The act of discovering a new production process would be called

Which department in a modern university would most likely advertise itself as a promoter of modern growth theory?

The information technology revolution seems to have had its greatest positive effect on labor productivity growth in the ____ period.

An increase in the number of hours worked would