econ+2100+quiz+5+long+run+economic+growth+and+development

econ+2100+quiz+5+long+run+economic+growth+and+development -...

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Page 1 ECON 2100 Quiz 5 "Long Run Economic Growth and Development" Name: __________________________ Date: _____________ 1. An example of human capital would be: A) the job skills a person has. B) the stocks and bonds in an individual's portfolio. C) the money a person has. D) the capital goods or machines a person owns. 2. Which of the following is a chief measure of economic growth over time? A) increases in the available labor supply B) inflation C) increases in real per capita GDP D) decline in real interest rates 3. Economists say that long-run economic growth is almost entirely due to: A) a democratically elected government. B) a balanced budget. C) population growth. D) rising productivity. 4. Diminishing returns to physical capital means that, when the amount of human capital per worker and the state of technology are held fixed, each increase in the amount of physical capital per worker leads to: A) losses for stockholders. B) a smaller increase in productivity.
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econ+2100+quiz+5+long+run+economic+growth+and+development -...

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