A) have no impact on GDP growth.
B) lead to higher GDP growth for a few years.
C) lead to higher GDP growth for a period of several decades.
D) lead to a permanently higher growth rate.
F) All of the above
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A) has no effect on the standard of living.
B) has uncertain effects on the standard of living.
C) clearly raises the standard of living.
D) clearly lowers the standard of living.
F) A) and C)
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A) Across countries there are large differences in the average income per person.These differences are reflected in large differences in the quality of life.
B) With a growth rate of about 2 percent per year,average income per person doubles about every 35 years.
C) The ranking of countries by average income changes very little over time.
D) In some countries real income per person has changed very little over many years.
F) None of the above
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A) 12 futons
B) 24 futons
C) 3 futons per hour of labor
D) 1.5 futons per hour of labor
F) B) and C)
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A) raises the amount of physical capital per worker and there is some evidence that it raises the pace of technological progress.
B) raises the amount of physical capital per worker,but there is some evidence that it reduces the pace of technological progress.
C) reduces the amount of physical capital per worker,but there is some evidence that it raises the pace of technological progress.
D) reduces the amount of physical capital per worker and there is some evidence that it reduces the pace of technological progress.
F) None of the above
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B) False
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A) United Kingdom,Mali,Mexico.
B) Mexico,Mali,United Kingdom.
C) United Kingdom,Mexico,Mali.
D) Mali,Mexico,United Kingdom.
F) A) and B)
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A) By definition,all natural resources are nonrenewable.
B) Market prices give us reason to believe that natural resources are a limit to economic growth.
C) An economy must be blessed with ample quantities of natural resources if it is to be a highly productive economy.
D) Differences in natural resources can explain some of the differences in standards of living around the world.
F) B) and D)
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A) differs widely across countries,but the growth rate of real GDP per person is similar across countries.
B) is very similar across countries,but the growth rate of real GDP per person differs widely across countries.
C) and the growth rate of real GDP per person are similar across countries.
D) and the growth rate of real GDP per person vary widely across countries.
F) All of the above
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A) both technological knowledge that is a public good and education
B) technological knowledge that is a public good,but not education
C) education,but not technological knowledge that is a public good
D) neither education,nor technological knowledge that is a public good
F) None of the above
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A) foreign portfolio investment.
B) foreign financial investment.
C) foreign direct investment.
D) indirect foreign investment.
F) All of the above
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A) its level of capital
B) the number of hours worked
C) its availability of natural resources
D) its productivity
F) B) and C)
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A) was hailed by Thomas Robert Malthus as the key to future economic growth.
B) tends to lead to higher levels of educational attainment.
C) is the main reason that less developed nations are poor.
D) may depress economic prosperity by reducing the amount of capital which each worker has to work with.
F) B) and D)
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A) decreased by 2.1 percent.
B) was unchanged.
C) increased by 1.3 percent.
D) increased by 2.3 percent.
F) B) and D)
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B) False
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A) the amount of goods and services produced from each hour of a worker's time.
B) the total amount of goods and services produced within the country.
C) the total amount of its physical capital.
D) its growth rate of real GDP.
F) A) and D)
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A) the knowledge possessed by scientists
B) carpenters' labor services
C) lumber
D) All of the above are correct.
F) B) and C)
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A) The quantity of natural resources per worker can influence productivity.
B) Technological knowledge and human capital are closely related.
C) Over long periods of time,the prices of most natural resources are stable or falling,relative to other prices.
D) All of the above are correct.
F) All of the above
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A) A country with no or few domestic natural resources is destined to be poor.
B) Differences in natural resources have virtually no role in explaining differences in standards of living.
C) Some countries can be rich mostly because of their natural resources and countries without natural resources need not be poor,but can never have very high standards of living.
D) Abundant domestic natural resources may help make a country rich,but even countries with few natural resources can have high standards of living.
F) A) and B)
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A) is the same thing as human capital.
B) can be discovered but it can never be kept secret.
C) is a determinant of productivity.
D) does not play a role in the relationship that economists call the production function.
F) A) and C)
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