Exam 12: Maintaining a Rising Level of Output: The Importance of Economic Growth

The Malthusian population principle confirms the notion that food and fiber production will grow faster than population.

DCs have been reliant upon external funding from ACs to finance development projects.

Aggregate supply policies to foster economic growth tend to concentrate upon ensuring sufficient levels of spending to maintain full employment.

According to Denison, technological advance accounted for 28 percent of the increase in labor productivity from 1929 to 1982.

Answer the next 3 questions based upon the following diagram. -If Hedonia wanted greater growth in the future, what should it do in the present?

The social and political environment of DCs frequently serves as an obstacle to economic growth.

The appropriate technology movement:

World bank data reveal that:

Potential real GDP:

The rule of 70:

Developing countries are characterized by:

Discuss the respective contributions to productivity growth over time made by skill improvements, capital deepening, and efficiency gains.

Critics of economic growth argue that:

Denison's work showed that increases in productivity accounted for nearly 70 percent of U.S. growth from 1929 to 1982.

All people in DCs are experiencing living standards that are below those of ACs.

The principal purpose of the World Bank is to make unrestricted grants to DCs.

Which of the following is a plausible explanation for the U.S. growth slowdown?

Macroeconomic instability can slow economic growth.

Answer the next 3 questions based upon the following diagram. -Which country has placed more emphasis on capital goods production?

"Dualism" refers to: