FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 28: Economic Growth

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 111

Multiple Choice

Review LaterAdd Note

Review Later

Economic growth can be portrayed as

A) an outward shift of the production possibilities curve.
B) an inward shift of the production possibilities curve.
C) a movement from a point on to a point inside a production possibilities curve.
D) a movement from one point to another point on a fixed production possibilities curve.

Correct Answer

verified

Show Answer

Question 112

True/False

Review LaterAdd Note

Review Later

One hypothesis for declining productivity growth rates since the Great Recession is that technological progress has been so rapid that firms have not been able to keep up in terms of investment.

Correct Answer

verified

Show Answer

Question 113

True/False

Review LaterAdd Note

If an economy is currently producing on its production possibilities curve, a rightward shift of the curve is a necessary but not sufficient condition for economic growth.

Since the 1950s, the U.S.average annual rate of growth of real GDP was higher than the average annual growth of real GDP per capita.

Strong property rights inhibit economic growth by strictly regulating economic behavior.

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

The real GDP of the United States has grown since the 1950s largely because of increases in labor productivity.

The pattern of productivity growth in the U.S.in the period 2010-2015, when compared to previous periods, suggests that

Leader countries that experience modern economic growth early on will always grow faster than follower countries.

Follower countries achieve high rates of growth by adopting technologies developed by leader countries.

Improvements in education and training explain about 80 percent of the historical growth of U.S.labor productivity.

Given the annual rate of economic growth, the "rule of 70" allows one to

What percentage of the U.S.adult population has at least a high school education (as of 2015) ?

Trends in educational attainment in the U.S.since 1960 indicate that the percentage of adults

Proponents of economic growth claim that rising living standards can lead to environmental improvements as people can afford to care more about the environment.

The economy of 1995-2010 was characterized by greater productivity growth and greater economic growth than in the immediately preceding two decades.

Modern economic growth since the 1820s has widened wealth and income disparities between richer and poorer nations.

Which of the following institutional structures is most likely to promote growth?

Between 2015 and 2026, productivity growth is expected to account for about percent of the growth of real GDP in the United States.

In the growth debate, critics of economic growth say that it will deplete our finite economic resources.