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1) If changes in economic policy could cause the growth

Question : 1) If changes in economic policy could cause the growth : 1924352

1) If changes in economic policy could cause the growth rate of real GDP to increase by 1% per year for 100 years, then GDP would be ________ % higher after 100 years than it would have been otherwise.

A) 1.3

B) 2.0

C) 2.7

D) 3.8

2) On average, for the last 100 years or more, real GDP per capita in the United States has increased by

A) 0.5% per year.

B) 1% per year.

C) 2% per year.

D) 4% per year.

3) When we compare poor and rich countries in the world

A) There is much greater dispersion in growth rates in per capita income for the poor countries than for the rich countries.

B) The investment rate is higher for poor countries than for rich countries.

C) There is much greater dispersion in growth rates in per capita income for the rich countries than for the poor countries.

D) Population growth rates are higher in rich countries than in poor countries.

4) In an exogenous growth model, growth is caused by

A) capital accumulation.

B) government policies.

C) human capital accumulation.

D) forces that are not explained by the model itself.

5) The idea that an improvement in technology causes an increase in population but causes no increase in the average standard of living is attributed to

A) Adam Smith.

B) Thomas Malthus.

C) Robert Solow.

D) Milton Friedman.

6) In the Malthusian model of economic growth

A) Per capita consumption affects birth rates and death rates.

B) Per capita consumption affects birth rates but not death rates.

C) Per capita consumption affects death rates but not birth rates.

D) Per capita consumption is always constant.

7) The Malthusian model performs poorly in explaining economic growth after the

A) French Revolution.

B) American Revolution.

C) Industrial Revolution.

D) Bio-technology Revolution.

8) The Solow model emphasizes the role of which of the following factors of production?

A) land

B) labor

C) capital

D) natural resources

9) Before the Industrial Revolution, standards of living differed

A) greatly over time and across countries.

B) little over time, but differed greatly across countries.

C) greatly over time, but differed little across countries.

D) little over time and across countries.

10) Recent evidence suggests that output per worker is

A) positively related to both the rate of investment and to the rate of population growth.

B) positively related to the rate of investment and negatively related to the rate of population growth.

C) negatively related to the rate of investment and positively related to the rate of population growth.

D) negatively related to both the rate of investment and to the rate of population growth.

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