Week 4 Homework

A  physical capital

B  capital deepening

C  technological gains

D  human capital

A  promotion of education and training programs for workers

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

C  special subsidies for capital-intensive forms of production

D  the use of tax revenues for investment and capital formation

A  demand

B  dollars

C  productivity

D  supply

A  one-fourth

B  one-half

C  double

D  triple

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  Bolivia

C  Nigeria

D  Germany

A  32%

B  22%

C  2%

D  12%

A  The invention of a threshing machine for harvesting grains.

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

C  Increased government funding of post-secondary education.

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

A  human capital

B  productivity

C  GDP per capita

D  economic growth

A  the unemployment rate.

B  the employment rate.

C  averaged GDP growth

D  real GDP per capita.

A  population

B  geography and climate

C  government interventionism

D  technological challenges

A  an aggregate production function

B  human capital

C  physical capital

D  a production function

A  GNP

B  GDP per capita

C  output

D  technology

A  high rate of labor force growth.

B  high rate of economic growth.

C  high rate of consumption.

D  zero rate of population growth

A  an increase in the standard of living

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

C  an increase in the average wage rate paid to workers

D  a decrease in the productivity of labor

A  GDP

B  GNP

C  GDP per capita

D  economic output

A  increase the tax deduction for child dependents.

B  promote economic growth.

C  increase welfare payments to the poor.

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

A  human capital

B  a market orientation

C  physical capital

D  technology

A  it devotes more resources to research and development.

B  the productivity of labor declines

C  taxes are imposed on investment in capital.

D  more resources are allocated to consumption goods.

A  a decrease in the quantity of labor due to emigration

B  a decrease in the productivity of labor

C  the discovery of new oil reserves

D  a decline in the stock of physical capital