Exam 24: Economic Growth: Theory and Policy

The profitability of an investment project will decrease if

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

The productivity speed-up in the United States began in the

Human capital includes the tools and equipment that human beings work with.

When actual GDP does not rise as fast as potential GDP, the economy most likely will experience

For given inputs of labor and capital, if technology is better, labor productivity will be

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

The new growth theory emphasizes the critical role of ____ in modern economic growth.

The wage premium in the United States has risen consistently starting in

Which of the following is an explanation for why some poor countries suffer from lower productivity growth?

Human capital differs from physical capital in that

Higher energy prices can be used to explain the productivity slowdown in the period from

Which furniture production process would have the highest production function?

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

The "cost disease of personal services" phenomenon helps explain why medical care has become so expensive.

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

Productivity increases are most likely to be achieved by

The definition of human capital refers to

The profitability of an investment project will increase if

The shrinking gap between the income levels of poor and rich countries is known as the