Exam 11: Long-Run Economic Growth: Sources and Policies

In 1973,the Club of Rome published a book titled The Limits to Growth,which predicted that economic growth would likely end in high-income countries because of

Which of the following advances contributed to the productivity growth of the mid-1990s?

Table 11-1 -Refer to Table 11-1.Based on the table above,which country has a higher standard of living and why?

Increased foreign direct investment in India has contributed to its recent economic growth.

The per-worker production function has a ________ slope,indicating that increases in capital per hour worked ________ real GDP.

Robert Lucas,a Nobel laureate in economics,argues that there are ________ returns to human capital.

Figure 11-4 -Refer to Figure 11-4.Suppose the economy gains more capital per hour worked and experiences technological change.This is shown in the figure above by the movement from

When an economy faces diminishing returns

How can freedom of the press promote economic growth?

Globalization is positively associated with

List two ways the labor force experience is different between workers in Europe and in the United States.How do these differences influence productivity?

High-income countries are also referred to as

A patent grants an inventor exclusive rights to a product for how long?

Knowledge capital is

Suggest two policies the government could pursue to help increase the accumulation of knowledge.

The rate of growth of productivity in the United States was positive during the 20th century.

According to Douglass North,the Industrial Revolution occurred in England because

Which of the following countries had the highest GDP per capita in 2016?

Foreign direct investment in the United States declined 42 percent in the first quarter of 2009.This means that

According to new growth theory,the accumulation of ________ capital is subject to diminishing returns at the ________ level,but not at the level of the economy as a whole.