Ch. 7 Econ 2301

A country will roughly double its GDP in twenty years if its annual growth rate is:

A nation can achieve higher economic growth if:

A nation's prosperity is sometimes measured in terms of ___________.

An economy's rate of productivity growth is closely linked to the growth rate of its ______________, although the two aren't identical.

During the last two centuries, the average rate of growth of GDP per capita in the leading industrialized countries has averaged about _________ per year.

Economists typically measure economic growth by tracking:

In macroeconomics, the connection from inputs to outputs for the entire economy is called _______________.

Increased investment alone will guarantee economic growth.

Investment in human capital:

Of the world's population of 6.7 billion people, _________ are scraping by on incomes that average less than $2 per day.

Over the long run, ____________ per hour is the most important determinant of the average wage level in any economy.

Since the late 1950s, economists have performed "growth accounting" studies in the United States. These have determined that ________________ is typically the most important contributor to U.S. economic growth.

Some recent economic research has suggested that African countries' economic growth may have been limited by __________________ .

The value of what is produced per worker, or per hour worked, is called ____________.

When discussing economic growth, it is often useful to focus on ____________, to avoid studying changes in the size of GDP that represent only having more people in the economy, and focus on those increases in GDP which represent an actual rise in the standard of living on a per person basis.

When society has a higher level of capital per person, it is called ______________.

Which of the following best describes the relationship between economic growth and literacy?

Which of the following factors contribute to economic growth?

Which of the following is correct?

Which of the following is most likely to contribute to economic growth as measured by GDP per capita?

Which of the government policies below is most unlikely to encourage per capita economic growth?

_________ is output per hour in the business sector.

____________ is a term which refers to the widespread use of power-driven machinery and the economic and social changes that resulted in the first half of the 1800s.

_____________________ is a term which refers to the widespread use of power-driven machinery and the economic and social changes that resulted in the first half of the 1800s.