Exam 7: Production and Growth

Dawn looks over reports on five of her workers. Carol made 25 baskets in 5 hours. Peter made 30 baskets in 6 hours. Rob made 40 baskets in 10 hours. Jack made 55 baskets in 10 hours. Jacqueline made 21 baskets in 3 hours. Who has the greatest productivity?

Which statement best describes the evolution of productivity growth in Canada?

How does productivity explain the differences in standard of living across countries?

If a production function has constant returns to scale, how can output be doubled?

Last year, real GDP per person in Olympus was $6500. The year before, it was $5500. What was the growth rate of real GDP per person?

How does income per person in Canada compare with income per person in China and Pakistan?

The dictator of Turan has recently begun to arbitrarily seize farms belonging to his political opponents, and he has given the farms to his friends. His friends don't know much about farming. The courts in Turan have ruled that the seizures are illegal, but the dictator has ignored the rulings. Other things equal, what would we expect to happen to the growth rate in Turan?

Michael Kremer found that world growth rates have increased as world population has.

Some economists argue that it is possible to raise the standard of living by reducing population growth. As an economist interested in incentives rather than coercion, what kind of policy would you recommend to slow population growth

From 1960 to 1990, what happened to the growth rates of Canada and South Korea?

What might the African governments do to foster higher economic growth

Which situation is an example of the "brain drain"?

If the number of workers in an economy doubled, all other inputs stayed the same, and there were constant returns to scale, what would happen to productivity?

What will a rapid increase in the number of workers, other things the same, likely do in the short term?

In ten years, when you are the owner of a major Canadian corporation, if your corporation opens and operates a branch in a foreign country you will be engaging in foreign direct investment.

Which statement best characterizes the variations in real GDP per person and its rate of growth across countries?

Which statement best explains how investment and growth rates relate across countries?

According to the traditional view, in what direction is the slope of the production function, with capital per worker on the horizontal axis and output per worker on the vertical axis?

What is a correct way to measure productivity?

Which statement illustrates an important fact about population growth?