Macro Quiz 2

What two factors are the keys to determining labor​ productivity?

Which of the following describes the growth in real GDP per person in the United States from 1900 to the​ present?

If Ebenezer Scrooge spends rather than saves his vast wealth he will

Public saving in the economy can be increased by

Inflation tends to​ ________ during the expansion phase of the business cycle and​ ________ during the recession phase of the business cycle.

Significant economic growth did not begin in the world until

Which of the following is not one of the three sources of technological​ change?

Which of the following accurately describes growth rates in the United States from 1900 to the​ present?

Which of the following is an example of foreign portfolio​ investment?

Which of the following is a normative statement about economic​ growth?

Which of the following is an example of human​ capital?

The rule of 70 states that

Refer to the diagram to the right. Which of the following is consistent with the​ diagram?

The federal budget deficit can be reduced by

During the recession phase of the business​ cycle,

The key factors in raising standards of living in lowminus−income countries have been increases in

If there is a change in the ability of a firm to produce a given level of output with a given level of​ inputs, we say there is

Which of the following countries actually experienced negative economic growth from 1960 to​ 2011?

Which of the following policies is designed specifically to directly promote technological change in an​ economy?

Countries with high rates of economic growth tend to have

Potential GDP in the United States

In a closed​ economy, public saving plus private saving is equal to

When the economy reaches a trough in a business​ cycle, which of the following will​ occur?

Increasing growth rates of GDP per capita and sustaining these growth rates in an economy can

Which of the following government policies would most likely to result in an increase in economic​ growth?

The economic growth model predicts that

Corruption