Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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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.
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.
Chapter 25 Solutions
Foundations of Economics (8th Edition)
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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