10 years
  • At an annual growth rate of 7%, real GDP will double in about:
  • Strong property rights are important for modern economic growth because
  • If the number of worker-hours in an economy is 100 & its labor productivity is $5 of output per worker-hour, the economy's real GDP
  • Which of the following is not a supply factor in economic growth?
production possibilities curve shifted outward.
  • Other things equal, if a full-employment economy reallocated a substantial quantity of its resources to capital goods, we would expect.
  • Suppose total output (real GDP) is $4,000 and labor productivity is $8. We can conclude that:
  • Suppose that an economy's labor productivity fell by 3% & its total worker-hours remained constant between year 1 & year 2. We could conclude that this economy's:
  • Suppose that an economy's labor productivity & total worker-hours each grew by 4% between year 1 & year 2. We could conclude that this economy's:
tend to exceed those in leader countries because followers can cheaply adopt the new technologies that leaders developed at relatively high costs.
  • Economies of scale refer to:
  • Economic growth rates in follower countries:
  • Proponents of economic growth say that pollution:
  • Economic growth can be portrayed as:
conclude that its average annual rate of growth is about 3.9%
  • The achievement of full employment through time will:
  • If the economy's real GDP doubles in 18 years, we can:
  • Proponents of economic growth say that pollution:
  • Which of the following is not a supply factor in economic growth?
people are more likely to invest if they don't fear that others can take their returns on investment without compensation.
  • Proponents of economic growth make all of the following arguments except:
  • Suppose total output (real GDP) is $4,000 and labor productivity is $8. We can conclude that:
  • Strong property rights are important for modern economic growth because
  • Which of the following is not a supply factor in economic growth?
increase the realized rate of economic growth.
  • If the economy's real GDP doubles in 18 years, we can:
  • Which of the following is not a supply factor in economic growth?
  • The achievement of full employment through time will:
  • Which of the following institutional arrangements is most likely to promote growth?
Unrestricted trade between nations
  • Which of the following best measures improvements in the standard of living in a nation?
  • Which of the following is not a supply factor in economic growth?
  • Which of the following institutional arrangements is most likely to promote growth?
  • Suppose total output (real GDP) is $4,000 and labor productivity is $8. We can conclude that:
the skills and knowledge that enable a worker to be productive.
  • A competitive market system:
  • Economies of scale refer to:
  • Human capital refers to
  • Suppose total output (real GDP) is $4,000 and labor productivity is $8. We can conclude that:
remain constant
  • If a nation's real GDP increases from 100 billion to 106 billion & it's population jumps from 200 million to 212 million, its real GDP per capita will
  • Other things equal, if a full-employment economy reallocated a substantial quantity of its resources to capital goods, we would expect.
  • If the number of worker-hours in an economy is 100 & its labor productivity is $5 of output per worker-hour, the economy's real GDP
  • Suppose that an economy's labor productivity fell by 3% & its total worker-hours remained constant between year 1 & year 2. We could conclude that this economy's:
Dividing real GDP by population
  • Which of the following best measures improvements in the standard of living in a nation?
  • Real GDP per capita is found by
  • Labor productivity is defined as:
  • Labor productivity is measured by:
encourages growth by promoting the rapid spread of new inventions and innovations.
  • Free trade:
  • Human capital refers to
  • Proponents of economic growth say that pollution:
  • A competitive market system:
Aggregate expenditures of households, businesses, & government.
  • Which of the following institutional arrangements is most likely to promote growth?
  • Which of the following best measures improvements in the standard of living in a nation?
  • Which of the following is not a supply factor in economic growth?
  • The achievement of full employment through time will:
an outward shift of the production possibilites curve.
  • Labor productivity is defined as:
  • Economies of scale refer to:
  • Labor productivity is measured by:
  • Economic growth can be portrayed as:
is $500.
  • If a nation's real GDP increases from 100 billion to 106 billion & it's population jumps from 200 million to 212 million, its real GDP per capita will
  • Other things equal, if a full-employment economy reallocated a substantial quantity of its resources to capital goods, we would expect.
  • At an annual growth rate of 7%, real GDP will double in about:
  • If the number of worker-hours in an economy is 100 & its labor productivity is $5 of output per worker-hour, the economy's real GDP
technological advance.
  • Which of the following best measures improvements in the standard of living in a nation?
  • The largest contributor to increases in the proucitivity of American labor is:
  • Other things equal, if a full-employment economy reallocated a substantial quantity of its resources to capital goods, we would expect.
  • Which of the following institutional arrangements is most likely to promote growth?
total output/worker-hours
  • Economic growth can be portrayed as:
  • Labor productivity is defined as:
  • Real GDP per capita is found by
  • Labor productivity is measured by:
labor productivity to rise.
  • If a nation's real GDP increases from 100 billion to 106 billion & it's population jumps from 200 million to 212 million, its real GDP per capita will
  • Suppose that an economy's labor productivity & total worker-hours each grew by 4% between year 1 & year 2. We could conclude that this economy's:
  • Suppose that an economy's labor productivity fell by 3% & its total worker-hours remained constant between year 1 & year 2. We could conclude that this economy's:
  • Other things equal, if a full-employment economy reallocated a substantial quantity of its resources to capital goods, we would expect.
encourages growth by allowing producers to make profitable investment decisions based on market signals.
  • Critics of economic growth:
  • Economies of scale refer to:
  • Free trade:
  • A competitive market system:
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