Exam 8: Productivity and Growth.

If Lee can create 6 websites in three days, what is her productivity?

Labor cost on average accounts for about _____ percent of the total cost of production.

Over the last 40 years, R&D spending in the United States, as a percent of GDP, has _____

Human capital represents _____

Long-term growth in production can be explained by _____

Since 1996, _____

The share of research and development funding supported by the private sector has increased over the past three decades.

Critics argue that U.S. industrial policy _____

Basic research is conducted primarily by manufacturing industries.

The production possibilities frontier of an economy is based on the assumption that the _____

Which of the following would slow down productivity growth?

An increase in the amount of capital per worker will _____

Which of the following is most likely to increase productivity growth, as measured using GDP statistics?

_____ are not an example of an industrial cluster.

If per capita GDP growth exceeds labor productivity growth, then _____

Research that seeks answers to particular questions or to apply scientific discoveries to develop specific products is known as _____

_____ is/are an important determinant of its standard of living in the long run.

If an increase in capital per worker leads to increased output per worker, but by decreasing amounts as capital increases, the per-worker production function _____

Which of the following would be considered developed countries?

What percentage of the world's output do industrial market countries produce?