Exam 7: Economic Growth: Theory and Policy

The productivity growth rates of poorer countries tend to be ____ than those of richer countries.

The wage premium in the United States for college graduates over high school graduates has remained constant from 1978 to 2000.

In general,as productivity levels increase,the potential for productivity growth

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

When the economy devotes more of its resources to investment goods,it must devote fewer resources to consumer goods.

Real wages in the United States tend to rise at the same rate as

Most of the investment decisions in the U.S.economy are made by

The fall of actual GDP below the level of potential GDP is a signal that the economy is in a recession.

The threat of confiscated private property diminishes the incentive to invest.

Long-term productivity growth trends have resulted in the

Laws that assign owners the rights to use assets as they see fit are called

One of the key factors in the economic success of South Korea was

The type of human capital formation that occurs in the business sector is called

Part of the tremendous growth in China can be attributed to

The expansion of information technology and the increasing complexity of the economy should make the wage premium

All of the following are reasonable explanations of the labor productivity speed-up in the United States except

Compared to the price of long-distance telephone calls,college tuition in the United States has

Poor countries often have difficulty investing in capital because

Capital gains are profits that you earn on the sale of your

The capital gains tax cut enacted in 2003 will hinder capital formation.