Exam 8: Economic Growth

The "inverse dependency ratio" is defined as the ratio of:

One of the main arguments against further growth for industrialized nations focuses on the problem of:

The problematic trend in the "inverse dependency ratio" in the U.S. is likely to show up first in:

A nation's real GDP will increase by increasing the following, except:

Critics of growth policies focus on the following arguments, except:

There tends to be a high positive correlation between the rate of productivity growth and the rate of economic growth.

If real GDP grows at an average annual rate of 2.0% instead of 3.5%, then it would take about 35 years - instead of 20 years - for real GDP to double.

Increases in the value of the product to each user, including existing users, as the total number of users rises is called:

The shift of labor out of agriculture to industry in the United States has tended to:

Which of the following is the so-called efficiency factor of economic growth?

A shift outward in the production possibilities curve is the direct result of improvements in the efficiency factor of economic growth.

Assume that an economy has 1500 workers, each working 2000 hours per year. If the average real output per worker-hour is $20, then total output or real GDP will be:

Assume a nation's current production possibilities are represented by the curve AB in the above diagram. Economic growth would best be indicated by a:

Real GDP or total output in any year is equal to:

If the annual growth in a nation's productivity is 2.8 percent rather than 1.5 percent, then the nation's standard of living will double in about:

In the U.S. economic-growth experience:

Refer to the above diagram. Which of the following is the most likely cause for a shift in the production possibilities curve from AB to CD?

What economic concept would be most closely associated with a situation where an aluminum plant expands its operations and uses extensive computerization in the production line to reduce per-unit costs of production?

Refer to the above diagram. If the production possibilities curve of an economy shifts from AB to CD, it is most likely the result of what factor affecting economic growth?

Consider two scenarios for a nation's economic growth. Scenario A has real GDP growing at an average annual rate of 3.5%; scenario B has an average annual growth of 4.5%. The nation's real GDP would double in about: