Exam 6: Economic Growth

Increasing returns would be a situation where a firm increases its workforce and other inputs by:

Suppose total output (real GDP) is $4000 and labour productivity is 8. We can conclude that:

One of the main arguments against further growth for industrialized nations focuses on the problem of:

Economic growth can best be portrayed as a:

Other things being equal, all of the following would cause a rise in a country's real per capita GDP, except a(n):

An anti-growth view would be that there may be a significant trade-off between productivity and:

Economic well-being in Canada is understated by growth rates because they:

Over the past half century the growth of real GDP in Canada has been caused primarily by:

The different starting dates for modern economic growth in different parts of the world are the main cause of:

Which of the following would be a source of economies of scale?

"Show me a pastoral society with an untouched environment, an abundance of leisure, and nonsecular values, and I will show you an underdeveloped, poverty-ridden country." This statement is most likely to be made by a(n):

Suppose nominal GDP in 1996 was $100 billion and in 1998 it was $260 billion. The general price index in 1996 was 100 and in 1998 it was 180. Between 1996 and 1998 the real GDP rose by:

If the number of worker-hours in an economy is 100 and its labour productivity is 5 units of output per worker-hour, the economy's real GDP:

Suppose total output (real GDP) is $10,000 and worker-hours are 20,000. We can conclude that:

Real GDP per capita is found by:

The rise in productivity seen in the last decade is believed to be due to a significant new wave of technological advance coupled with global competition.

Which of the following arguments are correct:

Real GDP = worker-hours × labour productivity.

Which of the following countries has achieved the highest average annual rate of growth of real GDP from 1960 to 2007?

Which is best considered an efficiency factor in economic growth?