Economic Growth

Front

In which scenario does economic growth occur due to physical capital? Options: TESLA invents a new transportation system, The US Social Security Administration raises the age requirement, Congress reduces unemployment benefit requirements, The quality of human capital increases

Back

TESLA invents a new transportation system

Front

Which growth factor is associated with the creation of a more efficient public school system?

Back

Human Capital

Front

Which scenario does not lead to economic growth? TESLA invents a new transportation system, The US Government commits to only purchase American-made products, State governments create a more efficient public school system, The quality of human capital increases

Back

The US Government commits to only purchase American-made products

Front

Which scenario leads to economic growth due to the economic environment? Options: TESLA invents a new transportation system, The US Social Security Administration raises the age requirement, Congress reduces unemployment benefit requirements, The quality of human capital increases

Back

The US Social Security Administration raises the age requirement

Front

Ecotown has a REAL GDP of $100 million and has a total labor hours of 5 million. What is their labor productivity per person, per hour?

Back

$20/hr

Front

Remitopia has a REAL GDP of $250 million and has a total labor hours of 25 million. What is their labor productivity per person, per hour?

Back

$10/hr

Front

Oliverland has a REAL GDP of $20 billion and has a total labor hours of 2 billion. What is their labor productivity per person, per hour?

Back

$10/hr

Front

Theaville has a REAL GDP of $60 billion and has a total labor hours of 2 billion. What is their labor productivity per person, per hour?

Back

$30/hr

Front

True or False: Economic Growth can ONLY occur with new resources and/or new technology

Back

False