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Quiz on Technological Progress and Growth

Authored by safia omer

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6th Grade

Quiz on Technological Progress and Growth
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14 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is required for sustained growth?

Higher capital only

Increased labor only

Technological progress

Decreased output

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the state of technology (A) indicate?

Output produced from capital and labor

Number of workers needed

Amount of capital only

Rate of population growth

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the state of technology A doubles, what is the effect?

It is as if the economy had twice as many workers

Output decreases

More capital is needed

Less labor is required

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to output per effective worker with constant returns to scale?

It changes by the same factor as capital and labor

It decreases

It remains constant

It becomes negative

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does AN represent?

Rate of technological progress

Population growth

Total capital

Effective labor

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the relationship between investment per effective worker and savings rate?

Investment depends on the savings rate

Investment is independent of savings

Higher savings lead to lower investment

Investment is only based on capital

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What must happen to maintain a constant capital per effective worker?

K must grow at a slower rate

K must remain constant

K must decrease

K must grow at the rate of growth of AN

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