macro - hw13 Completed 90 out of 102 points Question 1...

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hw13 Completed 90 out of 102 points
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Question 1 Multiple Choice 2 of 2 points An increase in physical capital or a technological advance Selected Answer: raises the real wage rate. Question 2 Multiple Choice 0 of 2 points Between 1905 to 2005, the average growth rate of real GDP per person in the United States was 2 percent a year. During this period, ________ grew at a faster rate than ________. Selected Answer: GDP; the population Question 3 Multiple Choice 2 of 2 points Since 1960, the country with the highest level of real GDP per person is Selected Answer: the United States. Question 4 Multiple Choice 2 of 2 points Comparing the fiscal imbalance for the current generation versus future generations, it is the case that Selected Answer: future generations pay a large fiscal imbalance. Question 5 Multiple Choice 2 of 2 points Which of the following is used to calculate the standard of living? Selected Answer: real GDP/population
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Question 5 Multiple Choice 2 of 2 points Question 6 Multiple Choice 2 of 2 points All of the following would increase the growth rate of the economy EXCEPT Selected Answer: discouraging international tra Question 7 Multiple Choice 2 of 2 points The gaps between the United States and the Asian countries of Honk Kong, Singapore, Taiwan and China have been Selected Answer: decreasing Question 8 Multiple Choice 2 of 2 points According to the new growth theory of Paul Romer, Selected Answer: knowledge is not subject to di returns. Question 9 Multiple Choice 2 of 2 points If the quantity of capital per worker in the economy increases, Selected Answer: labor productivity increases. Question 10 Multiple Choice 2 of 2 points Real GDP grows when I. the quantities of the factors of production grow II. persistent advances in technology make factors of production increasingly productive III. human capital grows
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Question 10 Multiple Choice 2 of 2 points Selected Answer: I, II, and III. Question 11 Multiple Choice 0 of 2 points If the level of technology rises, real GDP per hour of labor Selected Answer: increases because the amount hour of labor increases. Question 12
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macro - hw13 Completed 90 out of 102 points Question 1...

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