Macmillan LearningClassify the statements about growth as true or false. If a statement is an opinion, leave it unplaced.TrueGovernments can control growth rates with the appropriate policies.The industrial revolution brought an era of increased growth rates in theUnited StatesConvergence will not occur because of technology growthAnswer BankFalseGrowth in productivity is closely correlated with wage growthHuman capital is equivalent to the number of years of educationTechnology and human capital work againat each otherRich countries all grow faster than poor countries.Poor countries all grow faster than rich countriesSouth Korea's growth can be traced to mainly human capital deepening

Growth is defined as the increase in national production of goods and services. Growth is calculated…

Macmillan Learning Classify the statements about growth as true or false. If a statement is an opinion, leave it unplaced. True Governments can control growth rates with the appropriate policies The industrial revolution brought an era of increased growth rates in the United States Convergence will not occur because of technology growth Anwer Bank False Growth in productivity is closely correlated with wage growth Human capital is equivalent to the number of years of education. Technology and human capital work against each other Rich countries all grow faster than poor countries Pour countries all grow faster than rich countries South Korea's growth can be traced to mainly human capital deepening

Macmillan Learning Classify the statements about growth as true or false. If a statement is an opinion, leave it unplaced. True Governments can control growth rates with the appropriate policies The industrial revolution brought an era of increased growth rates in the United States Convergence will not occur because of technology growth Anwer Bank False Growth in productivity is closely correlated with wage growth Human capital is equivalent to the number of years of education. Technology and human capital work against each other Rich countries all grow faster than poor countries Pour countries all grow faster than rich countries South Korea's growth can be traced to mainly human capital deepening

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Similar questions

Economic growth theories have discussed growth factors from various perspectives. Critically discuss the similarities and differences in growth factors based on Adam Smith's, David Ricardo's, and Harrod-Domar's theories.
Describe Factors that may hinder economic growth
Which of the following causes sustained economic growth? Diminishing returns Increases in productivity Increases in the population Natural resource endowments
Explain the consequences of both too low and too high a growth rate
Economic growth is achieved through which of the following? Check all that apply. Advances in technology Increased supplies of resources Decreased demand for the factors of production Reduction in the quality of resources
Discuss three policies governments can use to promote economic growth
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.
Explains the problems that declining populations can cause for long-run economic growth
List as many causes of economic growth
What is the reason that productivity growth affects the economy?