Exam 25: Production and Growth

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Some economists argue that it is possible to raise the standard of living by reducing population growth.As an economist interested in incentives rather than coercion,what kind of policy would you recommend to slow population growth?

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Question 1

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Since bearing a child has an opportunity cost,policies designed to increase the opportunity cost of bearing children would likely reduce population growth rates.In particular,women with the opportunity to receive a good education and desirable employment tend to want to have fewer children than do those with fewer opportunities outside the home.Hence,policies designed to increase educational and employment opportunities for women will likely reduce population growth rates without coercion.

An understanding of the best ways to produce goods and services is called

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Question 2

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Productivity is most closely matched with a country's

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Question 3

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Which of the following would be considered physical capital?

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Question 4

As capital per worker rises,output per worker rises.However,the increase in output per worker from an addition to capital is smaller the larger the existing amount of capital per worker.

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Question 5

The catch-up effect refers to the idea that

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Question 6

Over the past century in the United States,real GDP per person has grown by about

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Question 7

Real GDP per-capita in rich countries,such as Germany,is sometimes more than 10 times that of poor countries like Pakistan.

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Question 8

In recent decades,average income in some East Asian countries,such as South Korea,Singapore,and Taiwan,has risen about

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Question 9

Waldo works eight hours and produces 7 units of goods per hour.Emerson works six hours and produces 10 units of goods per hour.

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Question 10

If a rich country reduced subsidies to domestic producers who produce goods for which poor countries have a comparative advantage,the standard of living in these poor countries would likely rise.

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Question 11

Other things the same,another unit of capital will increase output by more in a poor country than in a rich country.

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Question 12

Malthus predicted that the power of population

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Question 13

The relationship between the quantity of output created and the quantity of inputs needed to create it is called

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Question 14

Which of the following countries,had the highest growth rate over the last 100 years?

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Question 15

Over extended periods of time population growth

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Question 16

Which of the following is an example of the "brain drain"?

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Question 17

If a country's saving rate increases,then in the long run

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Question 18

If an economy with constant returns to scale were to double its physical capital stock,its available natural resources,and its human capital,but leave the size of the labor force the same,

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Question 19

Suppose over the last year that the price of scrap paper rose from $100 a ton to $108 a ton.Over the same time suppose an overall measure of prices rose from 125 to 130.The

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Question 20

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Exam 25: Production and Growth

Some economists argue that it is possible to raise the standard of living by reducing population growth.As an economist interested in incentives rather than coercion,what kind of policy would you recommend to slow population growth?

An understanding of the best ways to produce goods and services is called

Productivity is most closely matched with a country's

Which of the following would be considered physical capital?

As capital per worker rises,output per worker rises.However,the increase in output per worker from an addition to capital is smaller the larger the existing amount of capital per worker.

The catch-up effect refers to the idea that

Over the past century in the United States,real GDP per person has grown by about

Real GDP per-capita in rich countries,such as Germany,is sometimes more than 10 times that of poor countries like Pakistan.

In recent decades,average income in some East Asian countries,such as South Korea,Singapore,and Taiwan,has risen about

Waldo works eight hours and produces 7 units of goods per hour.Emerson works six hours and produces 10 units of goods per hour.

If a rich country reduced subsidies to domestic producers who produce goods for which poor countries have a comparative advantage,the standard of living in these poor countries would likely rise.

Other things the same,another unit of capital will increase output by more in a poor country than in a rich country.

Malthus predicted that the power of population

The relationship between the quantity of output created and the quantity of inputs needed to create it is called

Which of the following countries,had the highest growth rate over the last 100 years?

Over extended periods of time population growth

Which of the following is an example of the "brain drain"?

If a country's saving rate increases,then in the long run

If an economy with constant returns to scale were to double its physical capital stock,its available natural resources,and its human capital,but leave the size of the labor force the same,

Suppose over the last year that the price of scrap paper rose from $100 a ton to $108 a ton.Over the same time suppose an overall measure of prices rose from 125 to 130.The

Ten Principles of Economics

Thinking Like an Economist

Interdependence and the Gains From Trade

The Market Forces of Supply and Demand

Elasticity and Its Applications

Supply, demand, and Government Policies

Consumers, producers, and the Efficiency of Markets

Application: the Costs of Taxation

Application: International Trade

Externalities

Public Goods and Common Resources

The Design of the Tax System

The Costs of Production

Firms in Competitive Markets

Monopoly

Oligopoly

Monopolistic Competition

The Markets for the Factors of Production

Earnings and Discrimination

Income Inequality and Poverty

The Theory of Consumer Choice

Frontiers of Microeconomics

Measuring a Nations Income

Measuring the Cost of Living

Saving, investment, and the Financial System

The Basic Tools of Finance

Unemployment

The Monetary System

Money Growth and Inflation

Open-Economy Macroeconomics: Basic Concepts

A Macroeconomic Theory of the Open Economy

Aggregate Demand and Aggregate Supply

The Influence of Monetary and Fiscal Policy on Aggregate Demand

The Short Run Trade Off Between Inflation and Unemployment

Five Debates Over Macroeconomic Policy

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