) In the very long run, across the next fifty years, a country’s economic standard of living as measured by Real GDP Per Person can grow steadily as a result of sustained growth in one of the following two values. The correct focus of growth policy will be to promote: (a) Labor Productivity (b) Total Labor Effort 2) The correct answer to Q#1 is a consequence of which feature of any country’s economy. In the very long run, fifty years and beyond: a) Total Labor Effort (Aggregate Labor Hours) can grow faster than a country’s Population. b) Total Labor Effort (Aggregate Labor Hours) cannot grow faster than a country’s Population.
) In the very long run, across the next fifty years, a country’s economic standard of living as measured by Real GDP Per Person can grow steadily as a result of sustained growth in one of the following two values. The correct focus of growth policy will be to promote: (a) Labor Productivity (b) Total Labor Effort 2) The correct answer to Q#1 is a consequence of which feature of any country’s economy. In the very long run, fifty years and beyond: a) Total Labor Effort (Aggregate Labor Hours) can grow faster than a country’s Population. b) Total Labor Effort (Aggregate Labor Hours) cannot grow faster than a country’s Population.
Chapter16: Economic Growth
Section: Chapter Questions
Problem 3E
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Question
Choose the following opton:
1) In the very long run, across the next fifty years, a country’s economic standard of living as measured by Real
(a) Labor Productivity
(b) Total Labor Effort
2) The correct answer to Q#1 is a consequence of which feature of any country’s economy. In the very long run, fifty years and beyond:
a) Total Labor Effort (Aggregate Labor Hours) can grow faster than a country’s
Population.
b) Total Labor Effort (Aggregate Labor Hours) cannot grow faster than a country’s
Population.
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