Which of the following is not a requirement for increased growth? a. Capital expenditure b. Increased labor force c. Increased productivity d. Increased human capital e. All of the given choices f. None of the given choices g. First and second choice only • Within the framework of the Production Possibility Frontier, Which of the following options is not a component of economic growth? a. Price controls b. Technological advancement c. Physical capital and human capital formation d. Labor force growth e. All of the given choices f. None of the given choices g. First and fourth choice only

Which of the following is not a requirement for increased growth? a. Capital expenditure b. Increased labor force c. Increased productivity d. Increased human capital e. All of the given choices f. None of the given choices g. First and second choice only • Within the framework of the Production Possibility Frontier, Which of the following options is not a component of economic growth? a. Price controls b. Technological advancement c. Physical capital and human capital formation d. Labor force growth e. All of the given choices f. None of the given choices g. First and fourth choice only

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter3: Scarcity, Trade-offs, And Production Possibilities

Section: Chapter Questions

Problem 11P

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ANSWER B AND C ONLY! a. What are the ways in which a government policymaker can try to raise the growth in living standards in a society? b. What is the relevance of productive and allocative efficiency to the growth process? c. What is meant by economies of scale and what is the importance of this concept to economic growth?
72) According to new growth theory, the accumulation of ________ capital is subject to diminishing returns at the ________ level, but not at the level of the economy as a whole. A) physical; firm B) technological; personal C) knowledge; firm D) physical; production 73) Because knowledge capital is nonexcludable and nonrival, firms have an incentive to ________ the research and development of other firms. A) make bids on B) not use C) ignore D) free ride on 74) When firms benefit from the results of research and development they didn't pay for, we say firms A) are litigious. B) free ride. C) invest in knowledge capital. D) maintain a level playing field. 75) For how long does a patent give a firm the exclusive legal right to a product? A) 10 years B) 17 years C) 20 years D) 50 years 76) A copyright grants the creator of a book, film, or piece of software exclusive legal rights to use the creation for how long? A) 10 years B)…
What are the ways in which a government policymaker can try to raise the growth in living standards in a society? b. What is the relevance of productive and allocative efficiency to the growth process?c. What is meant by economies of scale and what is the importance of this concept to economic growth?
pleasee quickkk !!!! Long-run economic growth can help alleviate the problems of poverty by... a. Requiring increased saving on the part of most of the population. b. Generating more resources that can be used to reduce income inequality. c. Reallocating income away from low-value production to increase the incentives for high-value production. d. Increasing future consumption for the middle class. e. Creating new low-paying jobs for the unemployed.
Which one of the following is not true for the process of long-run economic growth? A) Societies endowed with higher levels of human capital grow faster in the long run. B) Societies that save a larger fraction of national income are richer in the long run. C) In economies with a larger number of firms, the economy grows faster in the long run. D) Fertility is both a consequence and a cause of long-run economic growth.
A. Investment in "infrastructure" represents spending on: O roads, bridges, canals, etc. O human capital (education) O government institutions O innovation to physical capital B. Which of the following was not one of Thomas Malthus' assumptions regarding population and economic growth? O Per-capita income would increase. O The economy was agriculturally based O The supply of land was fixed O The population would continue to increase
Based on our discussion of the determinants of economic growth, answer the following questions: • ’Devoting a larger share of national output to investment would help restore rapid economic growth and rising living standards.’ Based on our discussion of the determinants of economic growth, do you agree with the above statement? Explain why. • What could the policymakers (i.e., government, central bank) do to increase the investments in the economy? • Do you think that increasing the saving rate could help to increase the economic growth? Explain why. • Do you think that increasing the saving rate is always helpful? I.e., could we increase the saving rate to, say, 90 %? What could be some of the drawbacks of increasing the saving rate to a very high level? Explain.
Is it possible to have economic growth with no opportunity cost? A)Yes, economic growth requires no current sacrifices-only the passage of time. B) No, but economic growth is always worth whatever sacrifice is required. C) No, because growth depletes the stock of knowledge so that more growth today means less growth tomorrow D) No, because growth requires the sacrifice of consumption goods in order to invest in such things as capital tormation and research and development.
If you say, "Economic growth is also hampered by a scarcity of land and water, and climate change, which reduces rainfall and raises temperatures" wouldn't they also be constraints and all answers be correct?
Most economists are_____ that natural resources will eventually limit economic growth. As evidence, they note that the prices of most natural resources, adjusted for overall inflation, have tended to _____ over time. a. concerned, rise b.concerned, fall c. not concerned, rise d. not concerned, fall
• The economic growth measures the ____. a. increase in PPP b. increase in education index c. increase in output d. none of the above • According to Rostow, which of the following constitute pre-conditions for take-off? a. Investment rate increase b. Universal primary education c. Development of one or more manufacturing sectors with a high growth rate d. First and second choice e. First and third choice
Which best describes economic growth? a) increase in labor force participation rate b) a decrease in structural unemployment c) an increase in consumer demand across an entire nation's population d)an increase in real GDP over a long period of time