The key to sustained economic growth is increasing labor productivity.Question 34Answera.Trueb.False

Economic growth depends more on technological change than on increases on capital per hour worked.Question 36Answera.Trueb.False

Labor productivity growth is the growth rate of output per person in the economy.Group of answer choicesTrueFalse

The determinants of economic growth in the longer termWhich of the following statements best represents the impact of technological progress in the Solow growth model?QUESTION 5SELECT ONE:a.Technological progress allows for an increase in the saving rate.b.Technological progress is necessary to achieve the steady-state level of consumption per worker.c.There must be increases in the quality and quantity of capital for long-term growth to be achieved.d.There must be increases in the quality and quantity of consumption for long-term growth to be achieved.e.Both B and D apply.

The costs of economic growth include which of the following?Question 13AnswerSelect one:a.a decrease in the marginal product of capitalb.the gradual release of individuals from physical laborc.pollution and the depletion of natural resourcesd.increased productivitye.longer human life spans

Which of the following best explains the source of increases in productivity?ResponsesA increases in money supplyincreases in money supplyB increases in populationincreases in populationC increases in aggregate demandincreases in aggregate demandD increases in capital per worker