Question : 91) If a country experiences growth in “total factor productivity” : 1384435

 

91) If a country experiences growth in “total factor productivity” (i.e., the “Solow residual”), then

A) all growth in real GDP can be explained by growth in the labour force.

B) all growth in real GDP can be explained by growth in the capital stock.

C) there is some growth in real GDP that cannot be accounted for by growth in capital or the labour force.

D) none of the growth in real GDP can be accounted for by growth in capital and the labour force.

E) material standards of living are falling.

92) The growth of “total factor productivity,” or the “Solow residual,” is equal to the growth in real GDP

A) accounted for by changes in all factors of production but excluding technological changes.

B) accounted for by changes in all factors of production and including technological changes.

C) that cannot be accounted for by changes in the quantities of labour and capital.

D) that cannot be accounted for by changes in technology.

E) that cannot be accounted for by changes in the labour force.

93) An example of “embodied technical change” is

A) education that teaches a wider portion of the labour force basic numeracy.

B) the strengthening of social infrastructure, such as delivery of basic health-care services.

C) better methods of inventory control.

D) the development of better intellectual property law.

E) the replacement of old computer chips with new ones designed for faster processing.

94) The Solow residual is an estimate of changes in

A) economic growth.

B) human capital.

C) physical capital.

D) labour.

E) technology.

95) The so-called “Solow residual”

A) refers to the amount of GDP growth that cannot be explained by the growth in technological change.

B) takes embodied technological change into consideration.

C) is an underestimate of the amount of technological change when embodied technological progress occurs.

D) is an alternative to a measure of “total factor productivity.”

E) is an overestimate of the amount of technological change when embodied technological progress occurs.

96) The aggregate production function shows the ________ for given levels of labour and capital inputs.

A) marginal product of labour

B) marginal product of capital

C) returns to scale

D) total output for society (real GDP)

E) the production possibilities boundary

97) Neoclassical growth theory is based on the assumption of ________ marginal returns to a single factor and ________ returns to scale exhibited by the aggregate production function.

A) decreasing; constant

B) decreasing; decreasing

C) constant; decreasing

D) increasing; increasing

E) increasing; constant

98) An aggregate production function exhibits constant returns to scale when a 1% increase in labour input

A) produces a 1% increase in output.

B) along with a 1% increase in capital produces the same amount of output.

C) along with a 1% increase in capital produces one percent more output.

D) along with a 1% decrease in capital produces the same amount of output.

E) induces a 1% increase in capital input.

99) An aggregate production function exhibits increasing returns to capital when

A) no change in capital produces a one percent increase in output.

B) a 1% decrease in capital produces an increase in the marginal product of capital.

C) a 1% increase in capital produces no change in output.

D) each additional unit of capital increases the number of jobs by more than 1%.

E) each additional unit of capital has a higher marginal product than the previous unit.

100) Consider the aggregate production function Y = F(K, L). If the inputs K and L are increased by 5% each and total output (Y) increases by 5% as a result, then this production function is displaying

A) increasing returns to scale.

B) constant returns to scale.

C) decreasing returns to scale.

D) diminishing marginal returns.

E) a change in technology.

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more