Week 4 Homework

A  technological gains

B  human capital

C  physical capital

D  capital deepening

A  high taxes on companies that spend a lot on capital formation

B  special subsidies for capital-intensive forms of production

C  promotion of education and training programs for workers

D  the use of tax revenues for investment and capital formation

A  supply

B  dollars

C  productivity

D  demand

A  one-half

B  triple

C  double

D  one-fourth

A  the imposition of tariffs and quotas on imported goods

B  an increase in marginal tax rates

C  rapid population growth

D  increased capital formation

A  Somalia

B  Nigeria

C  Germany

D  Bolivia

A  12%

B  22%

C  32%

D  2%

A  Increased government funding of post-secondary education.

B  Installing a network of irrigation ditches and pumping stations in order to grow fruits and vegetables in parts of southern California.

C  The invention of a threshing machine for harvesting grains.

D  Many citizens emigrating from Zimbabwe when a politically repressive regime took office.

A  human capital

B  GDP per capita

C  economic growth

D  productivity

A  real GDP per capita.

B  the unemployment rate.

C  averaged GDP growth

D  the employment rate.

A  population

B  geography and climate

C  government interventionism

D  technological challenges

A  physical capital

B  human capital

C  a production function

D  an aggregate production function

A  GNP

B  GDP per capita

C  output

D  technology

A  high rate of labor force growth.

B  zero rate of population growth

C  high rate of economic growth.

D  high rate of consumption.

A  an increase in the proportion of the population that is college educated

B  a decrease in the productivity of labor

C  an increase in the average wage rate paid to workers

D  an increase in the standard of living

A  GDP

B  GDP per capita

C  economic output

D  GNP

A  promote economic growth.

B  use less capital and more labor in the production process.

C  increase the tax deduction for child dependents.

D  increase welfare payments to the poor.

A  technology

B  human capital

C  physical capital

D  a market orientation

A  the productivity of labor declines

B  taxes are imposed on investment in capital.

C  it devotes more resources to research and development.

D  more resources are allocated to consumption goods.

A  the discovery of new oil reserves

B  a decline in the stock of physical capital

C  a decrease in the quantity of labor due to emigration

D  a decrease in the productivity of labor