Exam 25: Production and Growth

Scenario 25-1.An economy's production form takes the form Y = AF(L,K,H,N). -Refer to Scenario 25-1.If the production function has the constant-returns-to-scale property,then it could be rewritten as

If your company opens and operates a branch in a foreign country,you will be engaging in foreign direct investment.

Electronics firms may be able to get patents on their ideas.Doing so makes their ideas

Which of the following statements is correct?

Foreign saving is used for domestic investment when foreigners engage in

On a production function,as capital per worker increases,output per worker

In 2006,income per person in the United States was about 12 times that in India.

Countries that grew the fastest over the last 100 or so years had growth rates of real income per person of about

Which of the following terms is used to refer to the ability of people to exercise authority over the resources they own?

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

If per capita real income grows by 2 percent per year,then it will double in approximately 20 years.

Why does a nation's standard of living depend on property rights?

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

Consider two countries.Country A has a population of 1,000,of whom 800 work 8 hours a day to make 128,000 final goods.Country B has a population of 2,000,of whom 1,800 work 6 hours a day to make 270,000 final goods.

Senator Smith says that in order to help poor countries develop,the United States should: 1.Prevent U.S.corporations from investing in poor countries because they take profits that the poor countries should have;2.reduce or eliminate subsidizes to U.S.producers when poor countries have a comparative advantage producing those goods the U.S.subsidizes;3.Work to promote political stability in poor countries;and 4.Reduce poor countries reliance on market forces in their economies.How many of these ideas are likely to help poor countries grow?

In determining living standards,productivity plays a key role

Over the period 1900-2006,Brazil's rate of economic growth exceeded that of China.

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

Industrial machinery is an example of

Which of the following would increase productivity?