Exam 17: Production and Growth

In countries where women are discriminated against, policies that increase the likelihood of career success and educational opportunities for women are likely to decrease the birth rate.

Other things the same, which of the following could explain an increase in productivity?

Suppose Turkey increases its saving rate. In the long run

Technological knowledge

Which of the following is not an example of physical capital?

Suppose that the U.S. undertakes a policy to increase its saving rate. This policy will likely

Increases in both human capital per worker and physical capital per worker increase productivity.

In the fourteenth century it is estimated that deaths resulting from the bubonic plague reduced the population by about a third. Assuming diminishing returns, the decrease in population should have

A forest is an example of a nonrenewable resource.

Which of the following countries benefited significantly from the catch-up effect in the last half of the twentieth century?

In a market economy, scarcity of resources is most clearly reflected in

Government corruption

If a country made it easier for people to establish and prove the ownership of their property, real GDP per person would likely rise.

In 2010, the imaginary nation of Mainland had a population of 6,000 and real GDP of 120,000. In 2011 the population was 6,200 and real GDP of 128,960. Over the year in question, real GDP per person in Mainland grew by

Which list contains, in this order, a country whose real GDP per person grew faster and one whose real GDP per person grew slower than real GDP per person in the U.S. over about the last 100 years?

Patents turn new ideas into

Why does a nation's standard of living depend on property rights?

Which of the following public policies would be least likely to result in more rapid economic growth for a poor or developing country?

For a given year, productivity in a particular country is most closely matched with that country's

Suppose that in some country the price of silver increased from $30 per ounce to $31 per ounce during a time when the overall price level increased by 5 percent. During this period, the real price of silver