Labor productivity and economic growth will increase when nations
Why is real GDP a poor indicator of economic growth?
How can the government encourage investment in human capital?
One way to create new technologies is by investing into _____.
Why is physical capital important to an economy?
Which of the following is MOST likely to produce higher economic growth in the long run?
Human capital refers to which of the following?
Which is a characteristic of economic growth?
Country A invests 25% of GDP into human capital, while Country B invests only 9%. Which country will grow faster and why?
Which of the following metrics is used when calculating GDP using the income approach?
Rachel manages a box factory and just hired Franco. Does Franco count as physical capital?
What is the definition of GDP?
Economists define Real GDP per capita as which of the following?
Country A has a real GDP of $5,000 and a population of 20, while Country B has a real GDP of $20,000 and a population of 100. Which of the following statements is true?
Which of the following is NOT a determinant of the productivity of a nation?
What is the accounting methodology used to calculate the GDP, regardless of the approach used?
What is human capital?
_____ refers to the total amount of goods and services are produced within the economy.
Which of the following statements is FALSE about long run economic growth?
What is the main benefit of investing in human capital?
How is savings directly connected to economic growth?
Which of the following BEST defines technology?
In the short run, economic growth is measured in terms of which of the following?
Which of the following is not true regarding productivity?
How can governments encourage savings and investment?
Why is research and development significant?
Economists call the equipment and structures used to produce goods and services:
How is labor productivity, measured as output per worker, affected by economic drivers?
In the long run, what is a country's standard of living dependent on?
Which of the following will most likely occur as a result of an increase in labor productivity?
Economic Growth and Productivity Chapter Exam Instructions
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