Exam 8: Productivity and Growth

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

Per capita GDP in the United States has declined since 1950.

In contrast to government research and development,private sector R&D has

Labor productivity tends to fall as the capital-labor ratio rises.

Improvements in technology shift the per-worker production function downward.

Labor productivity in the United States has been

Basic research

Research and development contributes most to productivity growth through its impact on the

The per-worker production function illustrates the fact that as the amount of capital per worker increases,output per worker

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

Government policy that uses taxes,subsidies and regulation for the purpose of giving domestic industry an advantage,is known as

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

If increases in capital per worker lead to increased output per worker,but by decreasing amounts as capital increases,the per-worker production function

The share of research and development funding supported by the federal government has increased over the past three decades.

An increase in the quantity of capital per worker would

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

Physical capital includes all of the following except

Long-term growth in production can be explained by

If Q is total real output,K is capital in use,L is labor employed,and the productivity of labor grows,other things constant,then

Many people believe that government should promote