Category: Long Term Economic Growth

A. Steady state growth path
B. Steady state invention rate
C. Steady state level of output
Unsteady state growth path

A. capital-widening technical innovation
B. capital-widening Catch-up in technology
C. capital-deepening technical innovation
D. capital-deepening, catch-up in technology

A. total exploitation
B. labour/capital productivity
C. total factor productivity
D. total productivity

A. a higher growth rates
B. a fluctuating growth rate
C. a fluctuating growth rates
D. no change in the growth rate

A. ceiling, stock building
B. ceiling, capital prices
C. floor, output
D. floor, the capital-output ratio

A. An increase in the quantity of labor and capital
B. An increase in labor productivity
C. An increase in the money supply
D. An increase in technology

A. saving, investment
B. capital per person, productivity
C. labor growth, output
D. investment capital per person

A. Imposing higher taxes on capital
B. encouraging more labour intensive work to reduce unemployment
C. reducing spending in education
D. encouraging private investment

A. workers
B. non-slackers
C. diligent rate
D. participation rate

A. increasing the use of labor increasing the use of land
B. increasing the use of capital increasing the use of labour
C. increasing the use of land increasing the use of capital
D. increasing the use of all inputs, technical advances