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

In 2012,GDP per capita was ________ in the United States than in China,and since 1980,the growth rate of real GDP per capita has been ________ in the United States than in China.

________ save a ________ of their income.This ________ capital in their economy and raises economic growth.

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

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

Table 11-6 -Refer to Table 11-6.Consider the statistics in the table above in describing the developing countries.Are these consistent with the economic growth model? Briefly explain.

According to Joseph Schumpeter,which of the factors of production is central to economic growth?

Productivity gains in the United States since 1990 have been ________ productivity gains in other leading industrial nations.

Lack of investment in strong education and health care systems