Which Of These Government Policies Can Help Economic Growth
Question: If a firm increases its use of capital while holding constant the number of workers employed, the firm is said to experience
Answer: an increase in the physical capital
Question: Which of these is (are) most likely to increase productivity
Answer: Investments in research and development
Question: Which of these government policies can help economic growth
Answer: Ensuring political stability and relatively little corruption
Question: Economic growth initially leads to __
Answer: higher living standards
Question: Which of these statements about the benefits of economic growth is true
Answer: Economic growth can help people at all income levels
Question: The prediction that the per capita GDP of poor nations will eventually grow at a more rapid pace than the per capita GDP in rich nations is known as
Answer: catch-up
Question: When population growth results in a lower output per worker, it is an illustration of which key principle in economics
Answer: The principle of diminishing returns
Question: The application of mechanical power to the production process that started in England around 1750 is known as
Answer: the Industrial Revolution
Question: Before capital accumulation can take place, __
Answer: household savings must be converted into business investment
Question: Suppose the growth rate of GDP in the United States is 2.9 percent. If 1.2 percent and 0.9 percent are due, respectively, to capital and labor growth, the amount resulting from technological progress is
Answer: 0.8 percent