Macroeconomics
21st Edition
ISBN: 9781259915673
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Question
Chapter 8, Problem 7RQ
To determine
Role of computer in the economic growth .
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Which of the following is a true statement?
Multiple Choice
Economists who support economic growth say that it is the most practical route to the higher standards of living that the vast majority of people desire.
Most economists believe that the recent rise in the average rate of productivity growth implies an end to the business cycle.
Most economists believe that increases in real GDP actually produce decreases in overall economic well-being because of spillover costs.
Mainstream economists disagree as to whether the rate of productivity growth was higher between 1995 and 2012 or between 1973 and 1995.
TRUE OR FALSE:
1. In developing countries, concentration of resources on higher education rather than basic education tends to lead in greater inequality.
2. The population growth, as the evidence suggests, also has a positive effect on economic growth.
What has been the average annual growth rate of U.S. real GDP per person over the 120 years from 1900 to 2020?
In which decade, beginning with the 1960s, was the growth of potential GDP per person greatest and slowest?
Over the 120 years from 1900 to 2020, the average annual growth rate of U.S. real GDP per person is
enter your response here
percent.
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