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Chapter 08 - Economic Growth
54. Refer to the above diagram. The most likely cause of a shift from AB to CD would be
a(n):
55. Refer to the above diagram. Increases in the quantity and quality of human resources and
capital are best represented by a:
56. An outward shift of a nation's production possibilities curve:
Chapter 08 - Economic Growth
57. Labor productivity is measured by:
58. Labor productivity is defined as:
59. Which of the following is correct?
Chapter 08 - Economic Growth
60. If the number of worker-hours in an economy is 100 and its labor productivity is $5 of
output per worker-hour, the economy's real GDP:
61. Suppose total output (real GDP) is $4000 and labor productivity is $8. We can conclude
that:
62. Suppose total output (real GDP) is $10,000 and worker-hours are 20,000. We can
conclude that:
Chapter 08 - Economic Growth
63. The percentage of the working-age population in the labor force (= employed + officially
unemployed) is called the:
64. Other things equal, which of the following would decrease the rate of economic growth,
as measured by changes in real GDP?
65. Other things equal, which of the following would increase the rate of economic growth, as
measured by changes in real GDP?
Chapter 08 - Economic Growth
66. Which of the following would not be expected to increase labor productivity?
67. Which of the following statements is correct?
68. Empirical studies suggest that:
Chapter 08 - Economic Growth
69. Between 2009 and 2020, productivity growth is expected to account for about ________
percent of the growth of real GDP in the United States.
70. The largest contributor to increases in the productivity of American labor is:
71. Which of the following statements is correct?
Chapter 08 - Economic Growth
72. The historical reallocation of labor from agriculture to manufacturing in the United States
has:
73. More than half the growth of real GDP in the United States is caused by:
74. Which of the following is the largest contributor to the growth of labor productivity in the
United States?
Chapter 08 - Economic Growth
75. A nation's infrastructure refers to:
76. Economies of scale refer to:
77. Other things equal, if a full-employment economy reallocated a substantial quantity of its
resources to capital goods, we would expect:
Chapter 08 - Economic Growth
78. Other things equal, which of the following would increase labor productivity the most?
79. Human capital refers to:
80. What percentage of the U.S. adult population has at least a high school education (as of
2009)?
Chapter 08 - Economic Growth
81. What percentage of the U.S. adult population has a college or post-college education (as
of 2009)?
82. The percentage of U.S. adults with a high school education or above has:
83. Globally, on average test scores of eighth-grade math and science students, the U.S. ranks
(as of 2007):
Chapter 08 - Economic Growth
84. If the growth trend of labor productivity is 3 percent per year, the number of years that it
will take for the standard of living to double will be about:
85. If the secular trend of labor productivity rises from 2 percent per year to 4 percent, the
number of years that it will take for the standard of living to double will decline by about:
86. The annual growth of U.S. labor productivity:
Chapter 08 - Economic Growth
87. The period in the U.S. economy from 1995 to 2009 is characterized by:
88. Increases in the value of a product to each user, including existing users, as the total
number of users rises are called:
89. Network effects are:
Chapter 08 - Economic Growth
90. All of the following are sources of increasing returns and economies of scale except:
91. The fundamental invention underpinning the recent rise in the average rate of productivity
growth is the:
92. All of the following are economic implications of the recent rise in the average rate of
productivity growth except:
Chapter 08 - Economic Growth
93. Skeptics of the recent rise in the average rate of productivity growth say that:
94. Economists who believe that the recent rise in the average rate of productivity growth may
be long-lasting claim that the above-normal economic growth in the United States between
1995 and 2009 was caused by:
