Exam 6: The Sources of Growth and the Solow Model

Changes in the capital stock are caused by changes in ________.

In the Solow model,which of the following is an endogenous variable?

Following an increase in the saving rate,consumption per worker ________.

When an economy experiences a one-time increase in productivity,there is an increase in the long-run,steady state value of ________.

Figure 6.1 -According to Figure 6.1,in postwar U.S history ________.

Other things the same,in the Solow model in the steady state,a higher rate of population growth ________ growth rate of output.

The per-worker production function is ________.

Strong evidence of convergence exists for ________.

A major contribution of the Solow model is its ________.

In the past 50 years,per capita income in some countries such as ________ and ________ has hardly changed relative to per capita income in the United States.

Capital and labor are distinct from productivity in that ________.

The economic growth of the United States over the last half-century ________.

Across national economies which of the following is the most important source of variation in growth rates?

Countries with different initial levels of per capita income may gravitate to a similar level of per capita income.Economists call this phenomenon ________.

An increase in the saving rate results in a higher steady state ________.

On the Solow Diagram,an increase in productivity is shown by ________.

In the Solow model,which of the following is an exogenous variable?

Within rich economies,there is strong evidence of convergence ________.

Suppose an economy is in a steady state,then its saving rate falls,once and permanently.As the economy approaches its new long-run steady state,consumption per worker is ________.

The Solow model is ________.