Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 25, Problem 8MCQ
To determine
To find:
The option that correctly states that fact without which an economy can achieve faster
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
How does increasing the level of public
education spending typically affect the long-
term economic growth of a country?
A. It has no effect on long-term economic
growth.
B. It reduces long-term economic growth
due to higher taxes.
C. It increases long-term economic growth
by improving the workforce's skills and
knowledge.
D. It initially boosts economic growth but
leads to a decline in productivity over time.
Economic growth. Two key sources of economic growth have been due to increases in resources and increases in productivity.
a. Please explain 5 factors that might contribute to falling U.S.
GDP growth rates.
b. Explain in detail, what we could do to avoid each of those 5 factors causing our GDP growth rates to fall.
c. Please explain 5 factors that might contribute to rising U.S.
GDP growth rates.
d.Explain in detail, what we could do to cause each of the 5
factors to happen and cause our GDP growth rate to increase.
Which of the following statements best describes the relationship between Economic Growth and Literacy Rates ?
A.
Literacy Rates decline as Economic Growth improves because Education is less useful in a developed economy.
B.
Increased Literacy initially stimulates Economic Growth by improving Labour Productivity but declines as the Opportunity Cost of Education increases with long-term Economic Growth.
C.
Increased Literacy stimulates Economic Growth by increasing Labour Productivity; People consume more Education as the Economy continues to grow.
D.
There is no correlation between Economic Growth and Literacy Rates.
Chapter 25 Solutions
Foundations of Economics (8th Edition)
Ch. 25 - Prob. 1SPPACh. 25 - Prob. 2SPPACh. 25 - Prob. 3SPPACh. 25 - Prob. 4SPPACh. 25 - Prob. 5SPPACh. 25 - Prob. 6SPPACh. 25 - Prob. 7SPPACh. 25 - Prob. 8SPPACh. 25 - Prob. 9SPPACh. 25 - Prob. 10SPPA
Ch. 25 - Prob. 11SPPACh. 25 - Prob. 12SPPACh. 25 - Prob. 1IAPACh. 25 - Prob. 2IAPACh. 25 - Prob. 3IAPACh. 25 - Prob. 4IAPACh. 25 - Prob. 5IAPACh. 25 - Prob. 6IAPACh. 25 - Prob. 7IAPACh. 25 - Prob. 8IAPACh. 25 - Prob. 9IAPACh. 25 - Prob. 10IAPACh. 25 - Prob. 1MCQCh. 25 - Prob. 2MCQCh. 25 - Prob. 3MCQCh. 25 - Prob. 4MCQCh. 25 - Prob. 5MCQCh. 25 - Prob. 6MCQCh. 25 - Prob. 7MCQCh. 25 - Prob. 8MCQ
Knowledge Booster
Similar questions
- Suppose that society decided to reduce consumption and increase investment. i. How would this change affect economic growth? ii. What groups in society would benefit from this change? iii. What groups might be hurt?arrow_forwardChoose 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.arrow_forwardOver the 120 years from 1900 to 2020, the average growth rate of U.S. real GDP per person was 2 percent a year. What does this tell us? A. Real GDP grew faster than the population. B. The growth rate of real GDP was 2 percent a year on average. C. Real GDP grew slower than the population. D. The growth rate of real GDP was less than 2 percent a year on average.arrow_forward
- What are the arguments for and against Economic Growth? Write in four paragraphsarrow_forwardQuestion 5 Sort the items below according to whether they promote economic growth, inhibit economic growth, or have no effect on economic growth A. The use of competitive markets to allocate goods and services A. Promote economic growth A. The creation of a price floor on sugar B. inhibit economic growth A. Laws preventing industrial espionage C. No effect on economic growth Clear laws regarding the transfer of property A corrupt government The development of regulations that make creating a small business difficult A. B. B. B. A nation's central bank declares it will print money to pay for government expenditures. A Moving to another question will save this response. O D 2: hp 51°Farrow_forwardWhat is the likely effect of increasing public investment in higher education on a country's long-term economic growth? A. It will lead to a decrease in economic growth due to higher taxes. B. It will have no effect on economic growth. C. It will lead to higher long-term economic growth due to an improved labor force. D. It will initially boost economic growth but lead to a decline in the long run.arrow_forward
- A nation can achieve higher economic growth if Select one: a. the government increases the taxes on investment capital. b. it devotes more resources to research and development. c. it focuses its resources on consumption goods.arrow_forwardHow is economic growth measured? Question 1Answer a. The percentage change in the employment rate b. The percentage change in income taxes collected by the government c. The percentage change in real GDP d. The percentage change in the unemployment ratearrow_forwardWhich 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 workersarrow_forward
- 2. Economic Growth b. What are factors that affect economic growth? Physical, natural, human resources, and technologyarrow_forwardPolicy makers In the Canadian government have long tried to write laws that encourage growth In per capita real GDP. These laws typically do one of three things: a. They encourage firms to Invest more in research and development in order to boost technology. b. They encourage Individuals to save more In order to boost the physlcal capital stock. c. They encourage individuals to Invest more in education In order to boost the stock of human capital. For each of the above three points, name a law or government program with that Intentlon. Instructions: You may select more than one answer. Click the box with a check mark for correct answers, and click to empty the box for the wrong answers. a. They encourage firms to Invest more in research and development in order to boost technology. ? Lower tax rates on Income earned through savings. ? Retirement savings plans. 2 Government grants patents for Inventions. ? Government-provided student loans. 7 Grants from National Institute of Health. 2…arrow_forward2. Economic Growth a. What is economic growth in your own words? Increase in the production of economic goods and services. b. What are factors that affect economic growth? Physical, natural, human resources, and technologyarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning