Exam 9: Productivity and Growth

Which of the following would not increase labor productivity?

Declining growth in productivity means that the standard of living has been falling over time.

According to Nobel prize winner Simon Kuznets, the greatest increase in output and economic growth comes from changes in the

Exhibit 8-1 -The movement from point A to point B in Exhibit 8-1 could illustrate the result of

A possible downside of industrial policy is that

A small change in the rate of productivity growth will have

Exhibit 8-1 -The shape of the per-worker production function in Exhibit 8-1 illustrates the law of diminishing marginal returns to labor.

An improvement in the quality of capital would

The growing use of computers led to a substantial increase in overall U.S. productivity growth in the era from 1995-2005.

The process of adding more capital per worker is known as "capital deepening."

If population increases, which of the following must be true?

An example of an increase in human capital would be

Which of the following could cause the production possiblities frontier to shift to the right?

Basic research yields a higher return to society as a whole than does applied research.

Which of the following does not contribute to an improved standard of living?

Since 1990, the major industrial country with the lowest growth rate in per capita GDP has been

The rules of the game refer to

If per capita GDP growth exceeds labor productivity growth,

Industrial policy involves governments using taxes, subsidies and regulations to nuture the development of specific industries.