Chapter 25 Production and Growth
TRUE/FALSE 1.
If per capita real income grows by 2 percent per year, then it will double in approximately 20 years.
DIF: LOC:
1 REF: 25-0 Productivity and growth TOP:
Economic growth
ANS: F
NAT: Analytic MSC: Definitional 2.
Over the period 1870-2006, the United States experienced an average annual growth rate of real GDP per person of about 4 percent per year.
DIF: LOC:
1 REF: 25-1 Productivity and growth TOP:
Economic growth
ANS: F
NAT: Analytic MSC: Definitional 3.
In 2006, income per person in the United States was about 12 times that in India.
DIF: LOC:
1 REF: 25-1 Productivity and growth TOP:
Economic growth
ANS: T
NAT: Analytic MSC: Definitional 4.
Over the period 1900- 2006, Brazil ' s rate of economic growth exceedeat of China.
DIF: LOC:
2 REF: 25-1 Productivity and growth TOP:
Economic growth
ANS: T
NAT: Analytic MSC: Definitional 5.
If a country has a higher level of productivity than another, then it also has a higher level of real GDP.
DIF: LOC:
2 REF: 25-1 Productivity and growth TOP:
Productivity
ANS: F
NAT: Analytic MSC: Analytical 6.
International data on real GDP per person give us a sense of how standards of living vary across countries.
DIF: LOC:
1 REF: 25-1 Productivity and growth TOP:
Real GDP
ANS: T
NAT: Analytic MSC: Definitional 7.
Real GDP per person in rich countries, such as Germany, is sometimes more than 10 times that of poor countries like Pakistan.
DIF: LOC:
1 REF: 25-1 Productivity and growth TOP:
Standard of living
ANS: T
NAT: Analytic MSC: Definitional 8.
Both the standard of living and the growth of real GDP per person vary widely across countries.
ANS: T DIF: 1 REF: 25-1 NAT: Analytic LOC: Productivity and growth TOP: Standard of living | Real GDP MSC: Definitional 9.
If they could increase their growth rates slightly, countries with low income would catch up with rich
countries in about ten years. ANS: F DIF: 1 REF: 25-1 NAT: Analytic LOC: Productivity and growth TOP: Economic growth | Catch-up effect MSC: Interpretive 10.
In the United States real GDP per person is about $44,000, while in some poor countries real GDP per person is less than $3,000.
DIF: LOC:
1 REF: 25-1 Productivity and growth TOP:
Economic growth
ANS: T
NAT: Analytic MSC: Definitional 11.
Although growth rates across countries vary some, rankings of countries by income remain pretty much the same over time.
1683
ANS: F
NAT: Analytic MSC: Definitional 12.
DIF: LOC: 1 REF: 25-1 Productivity and growth TOP:
Economic growth
International data on the history of real GDP growth rates shows that over the last 100 years or so, rich countries got richer and poor countries got poorer.
DIF: LOC:
1 REF: 25-1 Productivity and growth TOP:
Economic growth
ANS: F
NAT: Analytic MSC: Definitional 13.
Productivity can be computed as number of hours worked divided by output.
DIF: LOC:
1 REF: 25-2 Productivity and growth TOP:
Productivity
ANS: F
NAT: Analytic MSC: Definitional 14.
Indonesians, for example, have a lower standard of living than Americans because they have a lower level of productivity.
ANS: T DIF: 1 REF: 25-2 NAT: Analytic LOC: Productivity and growth TOP: Productivity | Standard of living MSC: Interpretive 15.
If Country A produces 6,000 units of goods and services using 600 hours of labor, and if Country B produces
5,000 units of goods and services using 450 units of labor, then productivity is higher in Country B than in Country A.
DIF: LOC:
2 REF: 25-2 Productivity and growth TOP:
Productivity
ANS: T
NAT: Analytic MSC: Applicative 16. ANS: NAT: TOP: 17.
Like physical capital, human capital is a produced factor of production. T DIF: 2 REF: 25-2 Analytic LOC: Productivity and growth Physical capital | Human capital MSC: Interpretive
Human capital is the term economists use to refer to the knowledge and skills that workers acquire through education, training, and experience.
ANS: NAT: MSC:
T
Analytic
Definitional
DIF: LOC:
2 REF: 25-2 Productivity and growth TOP:
Human capital
A forest is an example of a nonrenewable
18.
resource. ANS: F DIF: 1 REF: 25-2 NAT: Analytic LOC: Productivity and growth TOP:
MSC: Definitional 19.
Natural resources
Historical trends in the prices of most natural resources compared to prices of other goods indicate that
natural resources have become scarcer over time.
DIF: LOC:
2 REF: 25-2 Productivity and growth TOP:
Natural resources
ANS: F
NAT: Analytic MSC: Interpretive 20.
It is possible for a country without a lot of domestic natural resources to have a high standard of living.
ANS: T DIF: 1 REF: 25-2 NAT: Analytic LOC: Productivity and growth TOP: Natural resources | Standard of living MSC: 21.
Interpretive
Constant returns to scale is the point on a production function where increasing inputs will no longer
increase output.
DIF: LOC:
2 REF: 25-2 Productivity and growth TOP:
Constant returns to scale
ANS: F
NAT: Analytic MSC: Interpretive
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Chapter 25 /Production and Growth 1685
22.
As capital per worker rises, output per worker rises. However, the increase in output per worker from an addition to capital is smaller, the larger is the existing amount of capital per worker.
DIF: LOC:
1 REF: 25-3 Productivity and growth TOP:
Production function
ANS: T
NAT: Analytic MSC: Analytical 23.
An increase in the saving rate does not permanently increase the growth rate of real GDP per person.
DIF: LOC:
2 REF: 25-3 Productivity and growth TOP:
Saving rate
ANS: T
NAT: Analytic MSC: Definitional 24.
Other things the same, another unit of capital will increase output by more in a poor country than in a rich country.
REF: 25-3 growth
MSC: Interpretive
ANS: T DIF: 1 NAT: Analytic LOC: Productivity and TOP: Productivity | Diminishing returns 25.
The catch-up effect refers to the idea that poor countries, despite their best efforts, are not likely ever to experience the economic growth rates of wealthier countries.
DIF: LOC:
2 REF: 25-3 Productivity and growth TOP:
Catch-up effect
ANS: F NAT: Analytic MSC: Interpretive 26.
Two countries with the same saving rates must have the same growth rate of real GDPper person.
DIF: LOC:
1 REF: 25-3 Productivity and growth TOP:
Saving rate | Catch-up effect
ANS: F NAT: Analytic MSC: Definitional 27.
When Americans invest in Russia, the income of Russians (that is, Russian GNP) rises by more than does production in Russia (that is, Russian GDP).
DIF: LOC:
3 REF: 25-3 Productivity and growth TOP:
Foreign investment
ANS: F
NAT: Analytic MSC: Applicative 28.
If your company opens and operates a branch in a foreign country, you will be engaging in foreign direct investment.
DIF: LOC:
1 REF: 25-3
International trade and finance
TOP: Foreign investment
ANS: T
NAT: Analytic
MSC: Definitional 29.
Investment in human capital has opportunity costs, but investment in physical capital does not.
ANS: F DIF: 1 REF: 25-3 NAT: Analytic LOC: Productivity and growth TOP: Opportunity costs | Human capital | Physical capital 30.
MSC: Interpretive
Incentives for parents to send their children to school, such as small monthly payments to parents if their children have regular attendance, appear to increase school attendance.
DIF: LOC:
1 REF: 25-3 Productivity and growth TOP:
Economic growth
ANS: T
NAT: Analytic MSC: Definitional
曼昆《经济学原理》(宏观)第五版测试题库(25)
