Exam 9: Productivity and Growth

The law of diminishing marginal returns states that as the quantity of capital per worker increases, other things constant, output per worker eventually

Applied research is the search for knowledge without regard to how that knowledge will be used.

The impact of computers on U.S. productivity growth

Over the past century in the United States, the growth of labor productivity was highest in the

Labor productivity is measured by

Since 1996,

In the period 2005-2012, the annual productivity growth rate was approximately

Which of the following would increase labor productivity?

If labor productivity growth slows, the standard of living must decrease.

What is the definition of productivity?

Which of the following does not contribute to labor productivity growth?

The diminishing slope of the per-worker production function reflects the law of diminishing marginal returns.

The rules of the game include all of the following except one. Which is the exception?

When firms in the same industry locate in the same geographic region, it is known as clustering.

The term industrial policy refers to

Over the last century, U.S. labor productivity has

Most economists agree that the most important factor contributing to the recent reduction in U.S. labor productivity growth rate has been the increased level of government regulation.

What was the average yearly increase in U.S. labor productivity growth between the 1870s and the early years of the 21st century?

If a nation moves upward along its per-worker production function relating output per worker to capital per worker,

In the long run, changing technology on average has led to