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Exponential growth refers to the situation when any positive change in economic condition will result in relatively greater increase in economic growth of that country.
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- 33Dead capital is Select one: O A. useful only if employed in a labor-intensive production process. O B. useful only if employed in a capital-intensive production process. O C. unlikely to have any productive use. O D. unlikely to be applied to its most efficient use.Production possibilities (alternatives) A B Capital goods Consumer goods 4 3 2 of 12 14 15 Refer to the above tabl A total output of 3 units of capital goods and 4 units of consumer goods: Select one: O a. will result in the maximum rate of growth available to this economy. O b. is irrelevant because the economy is capable of producing a larger total output. Oc. is unobtainable in this economy. O d. would involve an inefficient use of the economy's scarce resources.
- Which of the following is true regarding the equilibrium relationship between total factor productivity (z) and the real wage per efficiency unit of labor (w) in the Chapter 8 endogenous growth model? O Z> W OZWhy is a Cobb-Douglas production function useful for analyzing economic growth? O A. The Cobb-Douglas production function provides an efficient way of measuring the correlation of total factor productivity and consumption per worker. O B. The Cobb-Douglas production function provides a good fit to show consumption per worker and how multiple variables affectit. OC. The Cobb-Douglas production function provides a good fit to aggregate data and is also a good analytical tool for growth accounting. OD. The Cobb-Douglas production function provides an efficient method of measuring output per worker in the long run.006.25.0 - MC - MANK08 D Over the last century, U.S. real GDP per person grew at a rate of about a. 2 percent per year, so that it is now 2 times as high as it was a century ago. Ob. 2 percent per year, so that it is now 8 times as high as it was a century ago. O c. 4 percent per year, so that it is now 2 times as high as it was a century ago. d. 4 percent per year, so that it is now 8 times as high as it was a century ago. DWhat is the downside of using prizes to promote the creation of new technology? O It slows the spread and development of those ideas by restricting competition. Government money may be misdirected towards unproductive projects. O It prohibits competition forever. O Without a market test, prizes might be given to technology which ends up being useless. According to the Solow model, what portion of total savings in the economy goes towards investment? 50% 10% 90% O 100%The table below shows the GDP of a country measured in trillions of dollars. What is the growth rate of the GDP of this country in 1999? Year 1998 1999 2000 2001 Profit $526.42 $527.10 $533.69 $541.70 O a) -0.02% O b) 0.04% O c) 0.08% O d) 0.13% O e) 0.18% O f) 0.25% g) There is not enough information to tell.What annual growth rate will result in a country roughly doubling its GDP in 10 years? Select one: O a. 5 percent Ob. 12 percent Oc 7 percent Od. 10 percentSEE MORE QUESTIONS