A reasonable measure of the standard of living in a country is ?

Related Mcqs:

Many East Asian countries are growing very quickly because ?

A. They save and invest an unusually high percentage of their GDP B. They have always been wealthy and will continue to be wealthy, which is known as the “snowball effect” C. They are imperialists and have collected wealth from previous victories in war D. They have enormous natural resources....

Once a country is wealthy ?

A. it no longer needs any human capital B. capital becomes more productive due to the “catch-up- effect” C. none of these answers D. it may be harder for it to grow quickly because of the diminishing returns to capital...

For a given level of technology, we should expect an increase in productivity within a nation when there is an increase in each of the following except ?

A. labor B. physical capital/worker C. human capital/worker D. natural resources/worker...

If a production function exhibits constant returns to scale ?

A. doubling all of the inputs more than doubles output due to the catch-up effect B. doubling all of the inputs has absolutely no impact on output because output is constant C. doubling all of the inputs less than doubles output due to diminishing returns D. doubling all of the input’s doubles output...

Which of the following statements regarding the impact of population growth on productivity is true ?

A. There is no evidence, yet that rapid population growth stretches natural resources to the point that it limits growth in productivity B. All of these answers C. Rapid population growth may dilute the capital stock lowering productivity D. Rapid population growth may promote technological progress increasing productivity....