EBK FOUNDATIONS OF ECONOMICS
8th Edition
ISBN: 8220103632225
Author: PARKIN
Publisher: PEARSON
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Question
Chapter 25, Problem 8MCQ
To determine
To find:
The option that correctly states that fact without which an economy can achieve faster
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Students have asked these similar questions
Economic growth. Two key sources of economic growth have been due to increases in resources and increases in productivity.
a. Please explain 5 factors that might contribute to falling U.S.
GDP growth rates.
b. Explain in detail, what we could do to avoid each of those 5 factors causing our GDP growth rates to fall.
c. Please explain 5 factors that might contribute to rising U.S.
GDP growth rates.
d.Explain in detail, what we could do to cause each of the 5
factors to happen and cause our GDP growth rate to increase.
How does increasing the level of public
education spending typically affect the long-
term economic growth of a country?
A. It has no effect on long-term economic
growth.
B. It reduces long-term economic growth
due to higher taxes.
C. It increases long-term economic growth
by improving the workforce's skills and
knowledge.
D. It initially boosts economic growth but
leads to a decline in productivity over time.
Choose the correct statement about economic growth theories.
A.
Modern-day Malthusians point to global warming and climate change as reasons to believe that eventually real GDP per person will decrease.
B.
Classical growth theory tells us profit is the spur to technological change.
C.
According to new growth theory, growth occurs because knowledge and physical capital do not experience diminishing returns.
D.
New growth theory is sometimes called Malthusian theory.
Chapter 25 Solutions
EBK FOUNDATIONS OF ECONOMICS
Ch. 25 - Prob. 1SPPACh. 25 - Prob. 2SPPACh. 25 - Prob. 3SPPACh. 25 - Prob. 4SPPACh. 25 - Prob. 5SPPACh. 25 - Prob. 6SPPACh. 25 - Prob. 7SPPACh. 25 - Prob. 8SPPACh. 25 - Prob. 9SPPACh. 25 - Prob. 10SPPA
Ch. 25 - Prob. 11SPPACh. 25 - Prob. 12SPPACh. 25 - Prob. 1IAPACh. 25 - Prob. 2IAPACh. 25 - Prob. 3IAPACh. 25 - Prob. 4IAPACh. 25 - Prob. 5IAPACh. 25 - Prob. 6IAPACh. 25 - Prob. 7IAPACh. 25 - Prob. 8IAPACh. 25 - Prob. 9IAPACh. 25 - Prob. 10IAPACh. 25 - Prob. 1MCQCh. 25 - Prob. 2MCQCh. 25 - Prob. 3MCQCh. 25 - Prob. 4MCQCh. 25 - Prob. 5MCQCh. 25 - Prob. 6MCQCh. 25 - Prob. 7MCQCh. 25 - Prob. 8MCQ
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- Which of the following statements best describes the relationship between Economic Growth and Literacy Rates ? A. Literacy Rates decline as Economic Growth improves because Education is less useful in a developed economy. B. Increased Literacy initially stimulates Economic Growth by improving Labour Productivity but declines as the Opportunity Cost of Education increases with long-term Economic Growth. C. Increased Literacy stimulates Economic Growth by increasing Labour Productivity; People consume more Education as the Economy continues to grow. D. There is no correlation between Economic Growth and Literacy Rates.arrow_forwardWhat are the arguments for and against Economic Growth? Write in four paragraphsarrow_forwardSuppose that society decided to reduce consumption and increase investment. i. How would this change affect economic growth? ii. What groups in society would benefit from this change? iii. What groups might be hurt?arrow_forward
- Over the 120 years from 1900 to 2020, the average growth rate of U.S. real GDP per person was 2 percent a year. What does this tell us? A. Real GDP grew faster than the population. B. The growth rate of real GDP was 2 percent a year on average. C. Real GDP grew slower than the population. D. The growth rate of real GDP was less than 2 percent a year on average.arrow_forwardQuestion 5 Sort the items below according to whether they promote economic growth, inhibit economic growth, or have no effect on economic growth A. The use of competitive markets to allocate goods and services A. Promote economic growth A. The creation of a price floor on sugar B. inhibit economic growth A. Laws preventing industrial espionage C. No effect on economic growth Clear laws regarding the transfer of property A corrupt government The development of regulations that make creating a small business difficult A. B. B. B. A nation's central bank declares it will print money to pay for government expenditures. A Moving to another question will save this response. O D 2: hp 51°Farrow_forwardA nation can achieve higher economic growth if Select one: a. the government increases the taxes on investment capital. b. it devotes more resources to research and development. c. it focuses its resources on consumption goods.arrow_forward
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- Policy makers In the Canadian government have long tried to write laws that encourage growth In per capita real GDP. These laws typically do one of three things: a. They encourage firms to Invest more in research and development in order to boost technology. b. They encourage Individuals to save more In order to boost the physlcal capital stock. c. They encourage individuals to Invest more in education In order to boost the stock of human capital. For each of the above three points, name a law or government program with that Intentlon. Instructions: You may select more than one answer. Click the box with a check mark for correct answers, and click to empty the box for the wrong answers. a. They encourage firms to Invest more in research and development in order to boost technology. ? Lower tax rates on Income earned through savings. ? Retirement savings plans. 2 Government grants patents for Inventions. ? Government-provided student loans. 7 Grants from National Institute of Health. 2…arrow_forward2. Economic Growth b. What are factors that affect economic growth? Physical, natural, human resources, and technologyarrow_forward1. Japan’s real GDP was 525 trillion yen in 2009 and 535 trillion yen in 2010. Japan’s population was 127.6 million in 2009 and 127.5 million in 2010. Calculate a. The economic growth rate. b. The growth rate of real GDP per person. c. The approximate number of years it takes for real GDP per person in Japan to double if the real GDP economic growth rate returns to 3 percent a year and the population growth rate is maintained.arrow_forward
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