Question 1

Which of these is the most accurate statement about productivity?

Accepted Answer

A)  One can question whether our measurement of productivity is at all accurate.
B)  It has virtually no reliability or usefulness.
C)  Although it is a poor measure of quantity produced,it is a very useful measure of product quality.
D)  It is much more useful in measuring the output of people working in services than the output of people working in manufacturing.

Question 2

U.S.productivity dramatically slowed down in 1973 until the early _________ (decade).

Accepted Answer

The answer of U.S.productivity dramatically slowed down in 1973 until...

Question 3

Which statement is true?

Accepted Answer

A)  Our rate of productivity increase was greater in the 1980s than the 1960s.
B)  The key to productivity growth is an increasing labor force.
C)  Rising productivity could come about with the same output from fewer units of input.
D)  We have a higher growth rate than the Chinese even though they have a higher savings rate.

Question 4

There is a permanent underclass totaling about ______% of our population.

Accepted Answer

The answer of There is a permanent underclass totaling about...

Question 5

The Malthusian theory said that population tended to grow in a(n) _____ progression,while the food supply tended to grow in a(n) _____ progression.

Accepted Answer

A)  arithmetic;arithmetic
B)  geometric;geometric
C)  geometric;arithmetic
D)  arithmetic;geometric

Question 6

Since the mid 1990s the welfare roles have been __________ and the crime rate has _________.

Accepted Answer

A)  increasing;increased
B)  decreasing;increased
C)  decreasing;decreased
D)  increasing;decreased

Question 7

High military spending has _____ the economic growth of LDCs.

Accepted Answer

The answer of High military spending has _____ the economic...

Question 8

As economic development in LDCs progresses,

Accepted Answer

A)  children become an increasingly valuable economic asset.
B)  the birth rate eventually declines.
C)  consumption rises faster than production.
D)  fewer children survive to adulthooD.

Question 9

Which statement is true?

Accepted Answer

A)  Because of their large populations,India and China have relatively high per capita GDPs.
B)  The only way to industrialize is to build up capital in the form of new plant and equipment.
C)  The NICs have the highest per capita GDPs in the world.
D)  We find GDP per capita by dividing GDP into population.
E)  None of the statements are true

Question 10

Gross saving is the total of

Accepted Answer

A)  personal saving and business saving.
B)  personal saving and government saving.
C)  business saving and government saving.
D)  personal,business,and government saving.

Question 11

The Malthusian theory is most applicable today to the _____ countries.

Accepted Answer

The answer of The Malthusian theory is most applicable today...

Question 12

The populations of the LDCs are growing

Accepted Answer

A)  at about 5 percent per year.
B)  at about the same rate as those of the industrially advanced nations.
C)  slower than those of the industrially advanced nations.
D)  faster than those of the industrially advanced nations.

Question 13

Our latest increases in productivity growth can be attributed to

Accepted Answer

A)  computerization.
B)  our savings rate.
C)  our quality of labor.
D)  our educational system.

Question 14

Most people in LDCs earn their living as ____.

Accepted Answer

The answer of Most people in LDCs earn their living...

Question 15

Labor productivity is measured by

Accepted Answer

A)  the ratio of capital to labor.
B)  real output per worker hour.
C)  real output per capita.
D)  the ratio of worker hours to real GDP.

Question 16

Prior to the industrial revolution

Accepted Answer

A)  economic growth was only 1 percent per year.
B)  life remained the same from one generation to the next.
C)  most workers were craftsmen,such as millers,carpenters,and tailors.
D)  there were very few rich people,but there were very few poor people.

Question 17

With economic development comes each of the following,except

Accepted Answer

A)  a decline in the birth rate.
B)  an increase in the stock of capital.
C)  rising per capita GDP.
D)  a declining wage rate.

Question 18

Which of the following would NOT be expected to increase labor productivity?

Accepted Answer

A)  Technological advance
B)  The acquisition of more education and training by the labor force
C)  An increase in the size of the labor force
D)  The realization of economies of scale

Question 19

The third phase of the industrial revolution was largely based on the development of the following products: ___________________________________________.

Accepted Answer

computer systems,con...

Question 20

The world growth rate since 1800 has been about ______ percent.

Accepted Answer

The answer of The world growth rate since 1800 has...

Exam 16: Economic Growth and Productivity

Labor productivity is measured by

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The world growth rate since 1800 has been about ______ percent.

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There is a permanent underclass totaling about ______% of our population.

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The Malthusian theory said that population tended to grow in a(n) _____ progression,while the food supply tended to grow in a(n) _____ progression.

Correct AnswerverifiedShow Answer

Our latest increases in productivity growth can be attributed to

Correct AnswerverifiedShow Answer

U.S.productivity dramatically slowed down in 1973 until the early _________ (decade).

Correct AnswerverifiedShow Answer

Most people in LDCs earn their living as ____.

Correct AnswerverifiedShow Answer

Which of the following would NOT be expected to increase labor productivity?

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The populations of the LDCs are growing

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As economic development in LDCs progresses,

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The Malthusian theory is most applicable today to the _____ countries.

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Which statement is true?

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With economic development comes each of the following,except

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The third phase of the industrial revolution was largely based on the development of the following products: ___________________________________________.

Correct Answerverifiedcomputer systems,con...View AnswerShow Answer

Gross saving is the total of

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Which of these is the most accurate statement about productivity?

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Since the mid 1990s the welfare roles have been __________ and the crime rate has _________.

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Prior to the industrial revolution

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High military spending has _____ the economic growth of LDCs.

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Which statement is true?

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The Malthusian theory said that population tended to grow in a(n) _ progression,while the food supply tended to grow in a(n) _ progression.

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computer systems,con...
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Since the mid 1990s the welfare roles have been __ and the crime rate has _.

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