n the long run, capital deepening, a. doesn't change the level of productivity or income. b. raises the levels of both productivity and income. c. Raises the level of productivity but not the level of income. d. raises the level of Income but not the level of productivity

The long-run effects of an increase in the saving rate include...? a. a higher level of productivity. b. a higher growth rate of productivity. c. a higher growth rate of income. d. All of the above are correct.

The Rule of 70 is used to Select one: A. calculate the standard of living. B. estimate how much of an economy's growth rate is attributable to increases in capital per hour of labour. C. estimate how much of an economy's growth rate is attributable to technological advance. D. estimate how long it will take the level of any variable to double. O E. calculate the economy's growth rate.

1) The initial investments in education or health led to a stream of higher future income. 2) The population growth, as the evidence suggests, also has a positive effect on economic growth. a. First statement is TRUE, second is FALSE b. First statement is FALSE, second is TRUE c. Both statements are TRUE d. Both statements are FALSE

Suppose a country’s total output is growing 10 percent per year, but its population is growing 11 percent per year. What will happen to living standards?   a. Rise. b. Fall. c. Remain the same.

Must we have inequality for economic growth? A. Yes, disparities in income and wealth encourage hard work and saving. B. Yes, the richer individuals are in society, the more they can invest their capital in society and produce jobs for all. C. No, inequality stymies economic growth. More unequal nations grow less quickly than more equal societies - potentially due to speculative spending, and low healthcare outcomes and educational attainment for poorer people leading to less productivity.  D. No, it is mean spirited and makes people dislike each other.

Last year, real GDP per person was $4,200. The year before it was $4,000. By what percentage did real GDP per person grow during the period? a. 200 percent b. 10 percent c. 5 percent d. 50 percent.

Investment in capital is important because it A-decreases productivity. B-leads to lower taxes. C-increases productivity. D-leads to higher taxes.

Goods made by people in the past and now is used to produce other goods and services is called, a. financial capital b. human capital c. physical capital d. Land

Which one of the following statement is correct? a.An individual receives more income when he produces more output b.Every individual wants to receive higher income to satisfy more wants c.Higher National Income with no change in population increases standard of living. d.All of these