Question 1

Research suggests that the relatively higher rate of growth of output per capita between in China between 1995 and 2007 was the result of which of the following?

Accepted Answer

A)  an increase in the rate of technological progress
B)  an increase in K / NA
C)  an increase in the rate of growth of N
D)  an increase in the saving rate
E)  both A and DF) C) and D)
G) A) and B)

Question 2

Refer to the information above.Which of the following represents the level of investment needed to maintain constant capital per effective worker (K / NA) in this economy?

Accepted Answer

A)  .02K
B)  .03K
C)  .05K
D)  .10K
E)  .15KF) A) and E)
G) D) and E)

Question 3

Use the following information to answer the questions below:
(1) the rate of depreciation is 10% per year,
(2) the population growth rate is 2% per year,and
(3) the growth rate of technology is 3% per year.
-Refer to the information above.Which of the following equals the annual growth rate of "effective labor" in the steady state in this economy?

Accepted Answer

A)  2%
B)  3%
C)  5%
D)  10%
E)  15%F) C) and D)
G) A) and E)

Question 4

The method of constructing a measure of technological progress relies on which of the following assumptions?

Accepted Answer

A)  each factor of production is paid its marginal product
B)  population growth does not change
C)  population growth is zero
D)  the saving rate does note changeE) None of the above
F) B) and D)

Question 5

The rate of growth of output per capita for the United States and France between 1950 and 2004 has been caused by

Accepted Answer

A)  the rate of technological progress.
B)  the saving rate.
C)  the accumulation of capital.
D)  the rate of growth of N.E) A) and B)
F) A) and C)

Question 6

Assume that an economy experiences both positive population growth and technological progress.In this economy,which of the following is constant when balanced growth is achieved?

Accepted Answer

A)  I
B)  S
C)  Y / N
D)  all of the above
E)  none of the aboveF) B) and D)
G) C) and D)

Question 7

Suppose output per worker in a country has grown at the same rate as technology over for many years.This country's growth would be described as

Accepted Answer

A)  "appropriable" growth.
B)  "balanced" growth.
C)  "effective" growth.
D)  "diffuse" growth.
E)  none of the aboveF) C) and E)
G) A) and D)

Question 8

Moore's law refers to which of the following?

Accepted Answer

A)  the steady state rate of growth of output per capita will equal the rate of growth of technological progress.
B)  the number of transistors in a chip would double approximately every 18-24 months.
C)  the steady state rate of growth of output per effective worker will be zero.
D)  the saving rate that maximizes steady state consumption is .5 (s = 0.5) .
E)  none of the aboveF) A) and B)
G) C) and D)

Question 9

Which of the following is always true after an economy reaches a balanced growth equilibrium?

Accepted Answer

A)  the growth rate of output equals the rate of depreciation
B)  population growth is zero
C)  the growth rate of capital is equal to the growth rate of the effective work force
D)  the growth rate of capital is equal to the savings rate
E)  none of the aboveF) C) and D)
G) A) and C)

Question 10

In the following production function,Y = f(K,NA) ,suppose A increases by 20%.This 20% increase in A implies that

Accepted Answer

A)  the same output can be produced with 20% less labor.
B)  the effective quantity of labor has increased by 20%.
C)  output will increase by less than 20%.
D)  all of the above
E)  both A and C.F) B) and D)
G) A) and E)

Exam 12: Technological Progress and Growth

Moore's law refers to which of the following?

Correct Answer
verified

Refer to the information above.Which of the following represents the level of investment needed to maintain constant capital per effective worker (K / NA) in this economy?

Correct Answer
verified

In the following production function,Y = f(K,NA) ,suppose A increases by 20%.This 20% increase in A implies that

Correct Answer
verified

Correct Answer
verified

Suppose output per worker in a country has grown at the same rate as technology over for many years.This country's growth would be described as

Correct Answer
verified

The method of constructing a measure of technological progress relies on which of the following assumptions?

Correct Answer
verified

Assume that an economy experiences both positive population growth and technological progress.In this economy,which of the following is constant when balanced growth is achieved?

Correct Answer
verified

Which of the following is always true after an economy reaches a balanced growth equilibrium?

Correct Answer
verified

The rate of growth of output per capita for the United States and France between 1950 and 2004 has been caused by

Correct Answer
verified

Research suggests that the relatively higher rate of growth of output per capita between in China between 1995 and 2007 was the result of which of the following?

Correct Answer
verified

Exam 12: Technological Progress and Growth

Moore's law refers to which of the following?

Correct AnswerverifiedShow Answer

Refer to the information above.Which of the following represents the level of investment needed to maintain constant capital per effective worker (K / NA) in this economy?

Correct AnswerverifiedShow Answer

In the following production function,Y = f(K,NA) ,suppose A increases by 20%.This 20% increase in A implies that

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Suppose output per worker in a country has grown at the same rate as technology over for many years.This country's growth would be described as

Correct AnswerverifiedShow Answer

The method of constructing a measure of technological progress relies on which of the following assumptions?

Correct AnswerverifiedShow Answer

Assume that an economy experiences both positive population growth and technological progress.In this economy,which of the following is constant when balanced growth is achieved?

Correct AnswerverifiedShow Answer

Which of the following is always true after an economy reaches a balanced growth equilibrium?

Correct AnswerverifiedShow Answer

The rate of growth of output per capita for the United States and France between 1950 and 2004 has been caused by

Correct AnswerverifiedShow Answer

Research suggests that the relatively higher rate of growth of output per capita between in China between 1995 and 2007 was the result of which of the following?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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