{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

CHAPTER 25 - Chapter25 Production andGrowth 1 Ifone wants...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 25/Production and Growth 147 Chapter 25 Production and Growth 1. If one wants to know how the material well-being of the average person has changed over time the  appropriate measure to look at is the growth a. rate of real GDP. b. rate of nominal GDP. c. rate of per capita real GDP. d. in the percentage of the labor force that is employed. ANSWER: c rate of per capita real GDP. SECTION: 1 OBJECTIVE: 1 2. Per capita real GDP differs from per capita nominal GDP in that real GDP 3. Poor countries are poor for all of the following reasons  except 4. Of the following, which country experienced the fastest growth rate for the period 1900–1998? 5. Which of the following represents a productivity-enhancing investment in human capital? a. a new labor-saving technology b. a new health clinic c. a new factory that will employ 1,000 workers d. an increase in fringe benefits, such as paid vacations and overtime pay ANSWER: b a new health clinic SECTION: 2 OBJECTIVE: 2
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
148 Chapter 25/Production and Growth 6. If the capital stock increases faster than employment, then we would expect
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}