1285738349_442092.docx - True False 1 If the annual growth...

This preview shows page 1 - 3 out of 30 pages.

True / False 1. If the annual growth rate in Real GDP is 2 percent, then it will take 50 years for the economy to double in size. a. True b. Fals e ANSWER: False POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Productivity and growth KEYWORDS: Bloom's: Application NOTES: New 2. The term economic growth can be used in reference to absolute real economic growth or to per- capita real economic growth. a. True b. Fals e ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Productivity and growth KEYWORDS: Bloom's: Comprehension 3. The term human capital refers to education, training and experience. a. True b. Fals e ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Productivity and growth KEYWORDS: Bloom's: Comprehension 4. Property rights are a tangible factor in producing economic growth. a. True b. Fals e ANSWER: False POINTS: 1 DIFFICULTY: Moderate
Image of page 1

Subscribe to view the full document.

NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Productivity and growth KEYWORDS: Bloom's: Comprehension 5. According to economist Benjamin Friedman, sustained economic growth can make people more willing to work toward improving the environment and reducing poverty. a. True b. Fals e ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Productivity and growth KEYWORDS: Bloom's: Comprehension OTHER: Economics 24/7 6. Economists Barro and McCleary’s research regarding the impact of religious beliefs on economic growth noted that a belief in hell matters more to economic growth than the belief in heaven. a. True b. Fals e ANSWER: True POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Productivity and growth KEYWORDS: Bloom's: Knowledge OTHER: Economics 24/7 7. The concept that economic growth can do more than just give us more goods and services goes back to Adam Smith. a. True b. Fals e ANSWER: True POINTS: 1 DIFFICULTY: Easy NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Productivity and growth KEYWORDS: Bloom's: Knowledge 8. Production functions used in economic growth theory are always limited to two inputs: labor and capital. a. True b. Fals
Image of page 2
e ANSWER: False POINTS: 1 DIFFICULTY: Moderate NATIONAL STANDARDS: United States - BUSPROG: Analytic LOCAL STANDARDS: United States - OH - Default City - DISC: Productivity and growth KEYWORDS: Bloom's: Comprehension 9. In the production function Real GDP = T (L, K) , the T represents the tax coefficient.
Image of page 3
You've reached the end of this preview.
  • Winter '10
  • Dua

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern