Exam 27: Economic Growth

Use the list below to answer the following question: 1.Improvements in technology. 2)Increases in the supply (stock)of capital goods. 3)Purchases of expanding output. 4)Obtaining the optimal combination of goods,each at least-cost production. 5)Increases in the quantity and quality of natural resources. 6)Increases in the quantity and quality of human resources. Refer to the list.As distinct from the demand and efficiency factors of economic growth,the supply factors of economic growth are:

Use the list below to answer the following question: 1.Improvements in technology. 2)Increases in the supply (stock)of capital goods. 3)Purchases of expanding output. 4)Obtaining the optimal combination of goods,each at least-cost production. 5)Increases in the quantity and quality of natural resources. 6)Increases in the quantity and quality of human resources. Refer to the list.As distinct from the supply factors and demand factor of economic growth,the efficiency factor(s)of economic growth is (are):

Proponents of economic growth say that pollution:

Labor productivity = worker-hours/real GDP.

Economies of scale refer to:

Between 2011 and 2022,productivity growth is expected to account for about ________ percent of the growth of real GDP in the United States.

If an economy is currently producing on its production possibilities curve,a rightward shift of the curve is a necessary but not sufficient condition for economic growth.

All of the following are economic implications of the 1995-2012 rise in the average rate of productivity growth except:

The economy of 1995-2012 was characterized by greater productivity growth and greater economic growth than in the immediately preceding two decades.

All of the following are sources of increasing returns and economies of scale except:

Which of the following statements is correct?

Which of the following is correct?

Which of the following institutional arrangements is most likely to promote growth?

A competitive market system:

(Consider This)The Consider This box on patents and innovation demonstrates that:

Strong economic growth since 1960 has allowed nations like Singapore and Ireland to surpass nations such as the United Kingdom and France in real GDP per capita.

Skeptics of the 1995-2012 rise in the average rate of productivity growth say that:

Under what circumstances do rates of economic growth understate the growth of economic well-being?

The intense competition of free trade prevents the investment that generates economic growth.

Real GDP per capita: