Economic growth is the expansion of production possibilities and is described as a leftward shift of the production possibilities frontier. a.False b.True
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a.False
b.True
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- Economic growth means an increase in the ability of an economy capable to produce goods and services; and it is shown by a movement of the production possibilities to the right. True or False?Why economic growth is one of the goals of macroeconomics?Which of the following is not a source of economic growth? A. appropriate incentive system B. growing physical capital C. increasing stock market prices OD. advances in technology ⒸE. better educated workers
- 4. According to Malthus, how does economic growth and population relate to each other?• The economic growth measures the ____. a. increase in PPP b. increase in education index c. increase in output d. none of the above • According to Rostow, which of the following constitute pre-conditions for take-off? a. Investment rate increase b. Universal primary education c. Development of one or more manufacturing sectors with a high growth rate d. First and second choice e. First and third choiceANSWER B AND C ONLY! a. What are the ways in which a government policymaker can try to raise the growth in living standards in a society? b. What is the relevance of productive and allocative efficiency to the growth process? c. What is meant by economies of scale and what is the importance of this concept to economic growth?
- What is relationship between social welfrare and economic growth ?A key factor that leads to economic growth is?1. What is a production possibility curve and explain points of efficiency, inefficiency, and not attainable. 2. Explain the law of increasing opportunity cost in a production possibility curve. What is the reason for increasing opportunity cost? 3. How can a country experience economic growth?
- Draw a production possibilities frontier for a country that produces two goods: capital goods and consumption goods. Show a point of production that will allow a country to achieve the maximum amount of future growth while still producing a small amount of consumption goods.Choose the correct statement about economic growth theories. A. Modern-day Malthusians point to global warming and climate change as reasons to believe that eventually real GDP per person will decrease. B. Classical growth theory tells us profit is the spur to technological change. C. According to new growth theory, growth occurs because knowledge and physical capital do not experience diminishing returns. D. New growth theory is sometimes called Malthusian theory.unning a budget denent. Which of the following is not considered a factor contributing to economic growth? Select one: a. Growth in the national money supply. b. Government protection of property rights. c. Growth in physical capital inputs (machines, tools, buildings, and inventories)
