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

High-income countries have growth rates that are consistent with the catch-up prediction in economic growth models.That is,Taiwan,Korea,and Singapore had ________ incomes in 1960 than the United States and Switzerland,and Taiwan,Korea,and Singapore grew ________ than the United States and Switzerland between 1960 and 2014.

If real GDP per capita in the United States is $8,000 in 2018,and if real GDP per capita is $12,000 in 2028,what is the total percent change in the growth rate of GDP per capita between 2018 and 2028?

The period of time from 1,000,000 B.C.to 1300 A.D.was a period of

The term "brain drain" refers to

What are some of the reasons used to explain improvements in health,education,democracy,and political stability in many low-income countries?

Table 11-4 -Refer to Table 11-4.In the table above,which countries are consistent with the predictions of the economic growth model?

If the slope of the per-worker production function is 1/2 in a given range,how will a $10,000 increase in capital per hour worked affect real GDP per hour worked in the same given range?

In the United States,the annual growth rate of real GDP per hour worked between 2006 and 2016 averaged

All of the following are reasons why China is unlikely to maintain high enough rates of productivity growth to catch-up with the standard of living in the United States except

Is knowledge capital subject to the law of diminishing returns? Explain.

Corruption

Economists who believe that real GDP may grow slowly because of insufficient demand for investment spending cite three main reasons for the low demand for loanable funds.Which of the following is not one of those reasons?

________ is considered a high income country,________ a developing country,and ________ a newly industrializing country.

For how long does a patent give a firm the exclusive legal right to a product?

Figure 11-3 -Refer to Figure 11-3.Which of the following would cause an economy to move from a point like A in the figure above to a point like B?

According to new growth theory,firms accumulate the efficient level of both physical and knowledge capital.

According to the World Bank,Albania does one of the worst jobs as a country enforcing the rule of law.The consequence of a weak rule of law is

Figure 11-1 -Refer to Figure 11-1.Technological change is illustrated in the per-worker production function in the figure above by a movement from

Unemployment insurance is usually available to workers in ________ for a shorter period of time than it is in ________.

Which of the following government provisions would help increase the accumulation of knowledge capital?