If in Pakistan real GDP/person in 2004 is Rs18,073 and real GDP/person is 2005 is Rs18,635 What is the growth rate of real output per person over this period ? A. 3.1 percent B. 3.0 percent C. 18.6 percent D.…
Which of the following government policies is least likely to increase likely to increase growth in Africa ? A. increase expenditure on public education B. eliminate civil war C. All of these answers would increase growthD. increase restrictions on the…
Our standards of living is most closely related to ? A. how hard we work: B. our supply of capital because everything of value is produced by machineryC. our productivity because our income is equal to what we produce D.…
Which of the following best describes the rate of growth in productivity in the United states over the last fifty years ? A. Productivity growth has been steady over the last 50 years B. Productivity has been growing more slowly…
Which of the following statements regarding the impact of population growth on productivity is true ? A. There is no evidence, yet that rapid population growth stretches natural resources to the point that it limits growth in productivityB. All of…
If a production function exhibits constant returns to scale ? A. doubling all of the inputs more than doubles output due to the catch-up effect B. doubling all of the inputs has absolutely no impact on output because output is…
For a given level of technology, we should expect an increase in productivity within a nation when there is an increase in each of the following except ? A. labor B. physical capital/worker C. human capital/worker D. natural resources/worker
Once a country is wealthy ? A. it no longer needs any human capital B. capital becomes more productive due to the “catch-up- effect” C. none of these answersD. it may be harder for it to grow quickly because of…
Many East Asian countries are growing very quickly because ? A. They save and invest an unusually high percentage of their GDP B. They have always been wealthy and will continue to be wealthy, which is known as the “snowball…
To increase growth, governments should do all of the following except ? A. encourage foreigners to investment in your country B. encourage saving and investmentC. nationalize major industries D. encourage research and development E. Promote free trade