Question : 11) Which of the following accurately describes growth rates in : 1388418

11) Which of the following accurately describes growth rates in the United States from 1900 to the present?

A) Growth rates rose until the 1970s and then fell until the present.

B) Growth rates have risen continuously from 1900 to the present.

C) Growth rates rose until the 1970s, slowed until the 1990s, and then rose up to the present.

D) Growth rates have fallen continuously from 1900 to the present.

12) Because of the productivity slowdown in the United States from the mid-1970s through the mid-1990s,

A) real GDP per capita grew more rapidly.

B) real GDP per capita grew more slowly.

C) the standard of living did not change.

D) the standard of living increased in the United States.

13) An explanation for the productivity slowdown from 1974 through 1995 is

A) measurement problems.

B) creative destruction.

C) a decline in oil prices.

D) an increase in labor quality.

14) Some economists argue that the productivity slowdown from mid-1970s to mid-1990s actually didn’t happen, but just “appeared” to happen because

A) services were becoming a more important part of the economy, and it was hard to measure increases of output from services.

B) new environmental laws had passed and forced firms to spend to reduce pollution, and this spending did not raise output.

C) increased spending on health and safety raised worker productivity.

D) A and B

E) B and C

15) Some economists argue that the productivity slowdown of the mid-1970s to the mid-1990s was due to changes in oil prices that

A) increased production costs, causing firms to reorganize production to conserve energy, which reduced output per worker.

B) decreased production costs, causing firms to reorganize production to conserve energy, which reduced output per worker.

C) increased production costs, causing firms to reorganize production to conserve energy, which increased output per worker.

D) decreased production costs, causing firms to increase production, which reduced output per worker.

16) Given the fact that the productivity slowdown of the mid-1970s to the mid-1990s affected all industrial countries, which of the following explanations for the productivity slowdown in the United States is not likely to be correct?

A) A deterioration of the U.S. education system caused a decline in the quality of labor.

B) high oil prices

C) Services have become a larger fraction of GDP.

D) stricter environmental regulations

17) Which of the following is not an explanation for the revival in the growth of productivity starting in the mid-1990s?

A) Information and communication innovations are increasingly geared toward improving business processes and not consumer products.

B) Faster computers have sped up data processing.

C) Internet use has increased the efficiency of how firms buy and sell to each other and to consumers.

D) Cell phones and wireless Internet access have increased worker flexibility.

18) The rate of growth of productivity in the United States was positive during the 20th century.

19) The labor productivity slowdown in the United States in the 1970s was due to declining quality of education in the United States, because no other industrialized country experienced the same labor productivity slowdown at the same time.

20) Compared to the previous 20 years, productivity growth in the United States increased between 1996 and 2012.