Question 1

In the following production function,Y = f(K,NA),suppose A increases by 20%.This 20% increase in A implies that

Accepted Answer

A) the same output can be produced with 20% less labor. 
B) the effective quantity of labor has increased by 20%. 
C) output will increase by less than 20%. 
D) all of the above 
E) both A and C. 
A) the same output can be produced with 20% less labor. 
B) the effective quantity of labor has increased by 20%. 
C) output will increase by less than 20%. 
D) all of the above 
E) both A and C.

Question 2

Research suggests that the relatively higher rate of growth of output per capita between in China between 1995 and 2007 was the result of which of the following?

Accepted Answer

A) an increase in the rate of technological progress 
B) an increase in K / NA 
C) an increase in the rate of growth of N 
D) an increase in the saving rate 
E) both A and D 
A) an increase in the rate of technological progress 
B) an increase in K / NA 
C) an increase in the rate of growth of N 
D) an increase in the saving rate 
E) both A and D

Question 3

Suppose output per worker in a country has grown at the same rate as technology over for many years.This country's growth would be described as

Accepted Answer

A) "appropriable" growth. 
B) "balanced" growth. 
C) "effective" growth. 
D) "diffuse" growth. 
E) none of the above 
A) "appropriable" growth. 
B) "balanced" growth. 
C) "effective" growth. 
D) "diffuse" growth. 
E) none of the above

Question 4

Use the following information to answer the questions below:
(1)the rate of depreciation is 10% per year,
(2)the population growth rate is 2% per year,and
(3)the growth rate of technology is 3% per year.
-Refer to the information above.Which of the following equals the annual growth rate of "effective labor" in the steady state in this economy?

Accepted Answer

A) 2% 
B) 3% 
C) 5% 
D) 10% 
E) 15% 
A) 2% 
B) 3% 
C) 5% 
D) 10% 
E) 15%

Question 5

Which of the following is always true after an economy reaches a balanced growth equilibrium?

Accepted Answer

A) the growth rate of output equals the rate of depreciation 
B) population growth is zero 
C) the growth rate of capital is equal to the growth rate of the effective work force 
D) the growth rate of capital is equal to the savings rate 
E) none of the above 
A) the growth rate of output equals the rate of depreciation 
B) population growth is zero 
C) the growth rate of capital is equal to the growth rate of the effective work force 
D) the growth rate of capital is equal to the savings rate 
E) none of the above

Question 6

Refer to the information above.Which of the following represents the level of investment needed to maintain constant capital per effective worker (K / NA)in this economy?

Accepted Answer

A) .02K 
B) .03K 
C) .05K 
D) .10K 
E) .15K 
A) .02K 
B) .03K 
C) .05K 
D) .10K 
E) .15K

Question 7

Moore's law refers to which of the following?

Accepted Answer

A) the steady state rate of growth of output per capita will equal the rate of growth of technological progress. 
B) the number of transistors in a chip would double approximately every 18-24 months. 
C) the steady state rate of growth of output per effective worker will be zero. 
D) the saving rate that maximizes steady state consumption is .5 (s = 0.5). 
E) none of the above 
A) the steady state rate of growth of output per capita will equal the rate of growth of technological progress. 
B) the number of transistors in a chip would double approximately every 18-24 months. 
C) the steady state rate of growth of output per effective worker will be zero. 
D) the saving rate that maximizes steady state consumption is .5 (s = 0.5). 
E) none of the above

Question 8

The rate of growth of output per capita for the United States and France between 1950 and 2004 has been caused by

Accepted Answer

A) the rate of technological progress. 
B) the saving rate. 
C) the accumulation of capital. 
D) the rate of growth of N. 
A) the rate of technological progress. 
B) the saving rate. 
C) the accumulation of capital. 
D) the rate of growth of N.

Question 9

Assume that an economy experiences both positive population growth and technological progress.In this economy,which of the following is constant when balanced growth is achieved?

Accepted Answer

A) I 
B) S 
C) Y / N 
D) all of the above 
E) none of the above 
A) I 
B) S 
C) Y / N 
D) all of the above 
E) none of the above

Question 10

The method of constructing a measure of technological progress relies on which of the following assumptions?

Accepted Answer

A) each factor of production is paid its marginal product 
B) population growth does not change 
C) population growth is zero 
D) the saving rate does note change 
A) each factor of production is paid its marginal product 
B) population growth does not change 
C) population growth is zero 
D) the saving rate does note change

In the following production function,Y = f(K,NA),suppose A increases by 20%.This 20% increase in A implies that

Research suggests that the relatively higher rate of growth of output per capita between in China between 1995 and 2007 was the result of which of the following?

Suppose output per worker in a country has grown at the same rate as technology over for many years.This country's growth would be described as

Which of the following is always true after an economy reaches a balanced growth equilibrium?

Refer to the information above.Which of the following represents the level of investment needed to maintain constant capital per effective worker (K / NA)in this economy?

Moore's law refers to which of the following?

The rate of growth of output per capita for the United States and France between 1950 and 2004 has been caused by

Assume that an economy experiences both positive population growth and technological progress.In this economy,which of the following is constant when balanced growth is achieved?

The method of constructing a measure of technological progress relies on which of the following assumptions?

A Tour of the World

A Tour of the Book

The Goods Market

Financial Markets

Goods and Financial Marketsthe Is-Lm Model

The Labor Market

Putting All Markets Togetherthe As-Ad Model

The Phillips Curve,the Natural Rate of Unemployment,and Inflation

The Crisis

The Facts of Growth

Saving,capital Accumulation,and Output

Technological Progress: the Short,the Medium,and the Long Run

Expectations: the Basic Tools

Financial Markets and Expectations

Expectations,consumption,and Investment

Expectations,output,and Policy

Openness in Goods and Financial Markets

The Goods Market in an Open Economy

Output,the Interest Rate,and the Exchange Rate

Exchange Rate Regimes

Should Policy Makers Be Restrained

Fiscal Policy: a Summing up

Monetary Policy: a Summing up

Epilogue: the Story of Macroeconomics

an Introduction to National Income and Product Accounts

an Introduction to Econometrics

Filters

Exam 12: Technological Progress and Growth

In the following production function,Y = f(K,NA),suppose A increases by 20%.This 20% increase in A implies that

Research suggests that the relatively higher rate of growth of output per capita between in China between 1995 and 2007 was the result of which of the following?

Suppose output per worker in a country has grown at the same rate as technology over for many years.This country's growth would be described as

Which of the following is always true after an economy reaches a balanced growth equilibrium?

Refer to the information above.Which of the following represents the level of investment needed to maintain constant capital per effective worker (K / NA)in this economy?

Moore's law refers to which of the following?

The rate of growth of output per capita for the United States and France between 1950 and 2004 has been caused by

Assume that an economy experiences both positive population growth and technological progress.In this economy,which of the following is constant when balanced growth is achieved?

The method of constructing a measure of technological progress relies on which of the following assumptions?

A Tour of the World

A Tour of the Book

The Goods Market

Financial Markets

Goods and Financial Marketsthe Is-Lm Model

The Labor Market

Putting All Markets Togetherthe As-Ad Model

The Phillips Curve,the Natural Rate of Unemployment,and Inflation

The Crisis

The Facts of Growth

Saving,capital Accumulation,and Output

Technological Progress: the Short,the Medium,and the Long Run

Expectations: the Basic Tools

Financial Markets and Expectations

Expectations,consumption,and Investment

Expectations,output,and Policy

Openness in Goods and Financial Markets

The Goods Market in an Open Economy

Output,the Interest Rate,and the Exchange Rate

Exchange Rate Regimes

Should Policy Makers Be Restrained

Fiscal Policy: a Summing up

Monetary Policy: a Summing up

Epilogue: the Story of Macroeconomics

an Introduction to National Income and Product Accounts

an Introduction to Econometrics

Filters