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

Georg,a German citizen,just purchased 10 shares of stock in Microsoft,a U.S.company.This purchase is an example of

All of the following policies are ways for a country to promote long-run economic growth except

The owner of a firm wants some advice on how to increase productivity.Suggest three ways the entrepreneur could increase labor productivity through improving technology.

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

What is "brain drain"?

Which of the following countries actually experienced negative economic growth from 1960 to 2014?

Which of the following is not a reason why low-income countries might experience low economic growth?

A small economy increased its capital per hour worked (K/L)from $40,000 to $50,000.As a result,real GDP per worker (Y/L)grew from $20,000 to $25,000.If the economy increases its capital per hour worked by another $10,000 to $60,000,but there is no change in technology,by how much more and in what direction will output per worker change?

New growth theory

If GDP per capita rises by 2% between 2017 and 2018,which of the following is necessarily true?

Figure 11-1 -Refer to Figure 11-1.Using the per-worker production function in the figure above,the largest changes in an economy's standard of living would be achieved by a movement from

An increase in ________ shifts the production function ________,and makes it possible to produce a higher level of GDP with ________ capital per hour worked.

A copyright grants the creator of a book,film,or piece of software exclusive legal rights to use the creation for how long?

From 1980 to 2016,the average annual growth rate for the Mexican economy has been 0.7 percent.Based on that growth rate and using the rule of 70,the number of years it will take real GDP per capita to double in Mexico is approximately

Of all industrialized nations,real GDP per capita was the highest in Japan in 2016.

Political stability is not a prerequisite to economic growth.

Figure 11-4 -Refer to Figure 11-4.The movement from A to B to C illustrates

An economy that grows too slowly fails to raise living standards.

Firms free ride on the research and development of other firms when they

If real GDP per capita in Ireland is estimated to be $7,400 in 2018,what will real GDP per capita be in 2023 if real GDP per capita grows at an annual rate of 2.8%?