Exam 11: Long-Run Economic Growth: Sources and Policies

In the early 1900s,Henry Ford revolutionized the automotive manufacturing industry by instituting the assembly line.What impact did the assembly line method for producing automobiles have on the per-worker production function for Ford?

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Question 1

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Draw a graph of "catch-up" that shows where you would expect to see a country with low saving rates and low levels of health and education.How would you expect real GDP per capita to grow in a country like this? Explain.

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Question 2

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Countries with low saving rates and low levels of health and education are likely to have low levels of real GDP.Normally,countries with a low initial level of GDP will experience relatively high levels of growth in real GDP per capita (as shown at point A in the graph below).However,with low saving rates,firms do not have access to funds to invest in new factories,machinery,and equipment needed for economic growth.Also,with low levels of health and education,the labor force is less productive (when they are able to work),so real GDP per capita does not rise and the country remains at a point like B in the graph below.

If real GDP per capita in the United States is $8,000 in 2011,and if real GDP per capita is $12,000 in 2021,what is the average annual percent change in the growth rate of GDP per capita between 2011 and 2021?

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In 1973,the Club of Rome published a book titled The Limits to Growth,which predicted that economic growth would likely end in high-income countries because of

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Question 4

In a small European country,it is estimated that changing the level of capital from $8 million to $10 million will increase real GDP from $2 million to $3 million.If the number of hours worked in the labor force does not change,what does this information tell you about the slope of the per-worker production function in this range?

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Question 5

According to Douglass North,the Industrial Revolution occurred in England because

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Question 6

Figure 22-1 -Refer to Figure 22-1.Within a country,the impact of wars and revolutions and their subsequent destruction of capital is reflected in the per-worker production function in the figure above by a movement from

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Question 7

In a small European country,it is estimated that a $10,000 increase in capital per hour worked will increase real GDP per hour worked by $300.Based on this information,what is the slope of the per-worker production function in this range?

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Question 8

In a small European country,it is estimated that changing the level of capital from $8 million to $10 million will increase real GDP from $2 million to $3 million.What level of GDP would you expect the economy to be able to reach if spending on capital continued to rise to $12 million,assuming no technological change and no change in the hours of work?

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Question 9

Productivity gains in the United States since 1990 have been ________ productivity gains in other leading industrial nations.

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Question 10

Which of the following government provisions would help increase the accumulation of knowledge capital?

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Question 11

The opportunity cost of being unemployed tends to be the highest in which of the following countries?

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Question 12

In the United States,the annual growth rate of real GDP per hour worked between 1995 and 2010 averaged

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Question 13

From 1990-2010,productivity growth in the United States was ________ the growth rates of other high-income countries.

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Question 14

High-income countries have and as compared to developing countries.

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Question 15

The industrialized group of countries has growth rates that are consistent with the findings of the economic growth model.That is,Taiwan,Korea,and Singapore had incomes in 1960 than the United States and Switzerland,and Taiwan,Korea,and Singapore grew than the United States and Switzerland between 1960 and 2009.

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Question 16

By offering more generous unemployment insurance programs,European countries can expect

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Question 17

According to the World Bank,Albania does one of the worst jobs as a country enforcing the rule of law.The consequence of a weak rule of law is

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Question 18

Explain three reasons why the productivity slowdown of 1973-1994 occurred?

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Question 19

Under the Soviet system of communism,

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Question 20

Showing 1 - 20 of 134

In the early 1900s,Henry Ford revolutionized the automotive manufacturing industry by instituting the assembly line.What impact did the assembly line method for producing automobiles have on the per-worker production function for Ford?

Draw a graph of "catch-up" that shows where you would expect to see a country with low saving rates and low levels of health and education.How would you expect real GDP per capita to grow in a country like this? Explain.

If real GDP per capita in the United States is $8,000 in 2011,and if real GDP per capita is $12,000 in 2021,what is the average annual percent change in the growth rate of GDP per capita between 2011 and 2021?

In 1973,the Club of Rome published a book titled The Limits to Growth,which predicted that economic growth would likely end in high-income countries because of

According to Douglass North,the Industrial Revolution occurred in England because

Figure 22-1 -Refer to Figure 22-1.Within a country,the impact of wars and revolutions and their subsequent destruction of capital is reflected in the per-worker production function in the figure above by a movement from

In a small European country,it is estimated that a $10,000 increase in capital per hour worked will increase real GDP per hour worked by $300.Based on this information,what is the slope of the per-worker production function in this range?

Productivity gains in the United States since 1990 have been ________ productivity gains in other leading industrial nations.

Which of the following government provisions would help increase the accumulation of knowledge capital?

The opportunity cost of being unemployed tends to be the highest in which of the following countries?

In the United States,the annual growth rate of real GDP per hour worked between 1995 and 2010 averaged

From 1990-2010,productivity growth in the United States was ________ the growth rates of other high-income countries.

High-income countries have and as compared to developing countries.

By offering more generous unemployment insurance programs,European countries can expect

According to the World Bank,Albania does one of the worst jobs as a country enforcing the rule of law.The consequence of a weak rule of law is

Explain three reasons why the productivity slowdown of 1973-1994 occurred?

Under the Soviet system of communism,

Economics: Foundations and Models

Trade-Offs, comparative Advantage, and the Market System

Where Prices Come From: the Interaction of Demand and Supply

Economic Efficiency,government Price Setting,and Taxes

The Economics of Health Care

Firms, the Stock Market, and Corporate Governance

Comparative Advantage and the Gains From International Trade

Gdp: Measuring Total Production and Income

Unemployment and Inflation

Economic Growth, the Financial System, and Business Cycles

Aggregate Expenditure and Output in the Short Run

Aggregate Demand and Aggregate Supply Analysis

Money,banks,and the Federal Reserve System

Monetary Policy

Fiscal Policy

Inflation, unemployment, and Federal Reserve Policy

Macroeconomics in an Open Economy

The International Financial System

Filters

Exam 11: Long-Run Economic Growth: Sources and Policies

In the early 1900s,Henry Ford revolutionized the automotive manufacturing industry by instituting the assembly line.What impact did the assembly line method for producing automobiles have on the per-worker production function for Ford?

Draw a graph of "catch-up" that shows where you would expect to see a country with low saving rates and low levels of health and education.How would you expect real GDP per capita to grow in a country like this? Explain.

If real GDP per capita in the United States is $8,000 in 2011,and if real GDP per capita is $12,000 in 2021,what is the average annual percent change in the growth rate of GDP per capita between 2011 and 2021?

In 1973,the Club of Rome published a book titled The Limits to Growth,which predicted that economic growth would likely end in high-income countries because of

According to Douglass North,the Industrial Revolution occurred in England because

Figure 22-1 -Refer to Figure 22-1.Within a country,the impact of wars and revolutions and their subsequent destruction of capital is reflected in the per-worker production function in the figure above by a movement from

In a small European country,it is estimated that a $10,000 increase in capital per hour worked will increase real GDP per hour worked by $300.Based on this information,what is the slope of the per-worker production function in this range?

Productivity gains in the United States since 1990 have been ________ productivity gains in other leading industrial nations.

Which of the following government provisions would help increase the accumulation of knowledge capital?

The opportunity cost of being unemployed tends to be the highest in which of the following countries?

In the United States,the annual growth rate of real GDP per hour worked between 1995 and 2010 averaged

From 1990-2010,productivity growth in the United States was ________ the growth rates of other high-income countries.

High-income countries have ________ and ________ as compared to developing countries.

By offering more generous unemployment insurance programs,European countries can expect

According to the World Bank,Albania does one of the worst jobs as a country enforcing the rule of law.The consequence of a weak rule of law is

Explain three reasons why the productivity slowdown of 1973-1994 occurred?

Under the Soviet system of communism,

Economics: Foundations and Models

Trade-Offs, comparative Advantage, and the Market System

Where Prices Come From: the Interaction of Demand and Supply

Economic Efficiency,government Price Setting,and Taxes

The Economics of Health Care

Firms, the Stock Market, and Corporate Governance

Comparative Advantage and the Gains From International Trade

Gdp: Measuring Total Production and Income

Unemployment and Inflation

Economic Growth, the Financial System, and Business Cycles

Aggregate Expenditure and Output in the Short Run

Aggregate Demand and Aggregate Supply Analysis

Money,banks,and the Federal Reserve System

Monetary Policy

Fiscal Policy

Inflation, unemployment, and Federal Reserve Policy

Macroeconomics in an Open Economy

The International Financial System

Filters

High-income countries have and as compared to developing countries.