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

A policy that offers parents a tax reduction based on how much they are saving for their children's college education should ________ the equilibrium level of loanable funds and ________ the rate of long-term growth.

Which of the following is an example of foreign portfolio investment?

There has been catch-up among ________,but there has not been catch-up among ________.

Which of the following countries had the highest GDP per capita in 2012?

The opportunity cost of being unemployed tends to be the highest in which of the following countries?

Your friend does not understand the benefits of globalization.Outline for your friend the positive economic aspects of globalization.

According to the text,there are three ways the government can help increase the accumulation of knowledge capital.What are they?

Over the last three decades in the United States,services have become a smaller fraction of GDP relative to goods.

Which of the following advances contributed to the "new economy" of the mid-1990s?

In the long run,a country will experience an increasing standard of living only if it experiences

An economic growth model explains

Which of the following accurately describes growth rates in the United States from 1900 to the present?

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?

Growth in real GDP per hour worked in the United States was slowest during what period of time?

What features made England in the eighteenth century the place where the Industrial Revolution occurred?

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

As predicted by the economic growth model,countries that start with lower levels of GDP per capita always grow faster than countries that start with higher levels of GDP per capita.

If the per-worker production function shifts down,

The labor productivity slowdown in the United States in the 1970s was due to declining quality of education in the United States,because no other industrialized country experienced the same labor productivity slowdown at the same time.

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