Exam 24: Economic Growth: Theory and Policy

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

The convergence hypothesis suggests that poor countries may close the income gap with rich countries.

U.S.government policy to stimulate research and development activities would be most likely to succeed if it involved

Which retail operation would have the highest costs per book sold?

Define the following terms:a.Human capitalb.Investmentc.Capital formationd.Property rights

Which of the following countries would find it easiest to achieve rapid growth in per capita GDP?

Compared to workers in poor countries, workers in richer countries have

College tuition costs have risen faster than prices in general from 1979 to 2009.

For a given technology and a given labor force, labor productivity will be ____ when the capital stock is ____.

Higher rates of investment spending contribute most to higher levels of

A recession will occur if an economy's actual GDP ____ its potential GDP.

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

Low levels of sales that cause low levels of investment spending is an example of a

Governments in market economies usually have significant control over

Which of the following would a macroeconomist classify as capital?

The profit earned from selling an asset for more than you paid for it is called

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

Which of the following countries has the lowest level of average educational attainment?

In contrast to the United States, countries like Japan and Germany have

The lack of a universal productivity effect of higher education was demonstrated by the experience of