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Principles of Macroeconomics Study Set 8
Quiz 12: Production and Growth: Part A
Path 4
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Question 41
Essay
When a country eliminates tariffs and other trade restrictions, intending to promote economic growth, it is pursuing _______–oriented policies.
Question 42
Essay
The catch-up effect says that countries with low income can grow faster than countries with higher income.However,in statistical studies that include many diverse countries we do not observe the catch-up-effect unless we control for other variables that affect productivity.Considering the determinants of productivity,list and explain some things that would tend to prohibit or limit a poor country's ability to catch up with the rich ones.
Question 43
Essay
Which well-known economist from the past asserted that "the power of population is infinitely greater than the power in the earth to produce subsistence for man?"
Question 44
Essay
Some data that at first might seem puzzling: The share of GDP devoted to investment was similar for the United States and South Korea from 1960-1991.However,during these same years South Korea had a 6 percent growth rate of average annual income per person,while the United States had only a 2 percent growth rate.If the saving rates were the same,why were the growth rates so different?
Question 45
Essay
What are inward-oriented policies? Do most economists recommend these types of policies to poor countries?
Question 46
Essay
Compare and contrast the population theories of Malthus and Kremer.
Question 47
Essay
In addition to investment in physical and human capital,what other public policies might a country adopt to increase productivity?
Question 48
Essay
Use the data on U.S.real GDP below to compute real GDP per person for each year.Then use these numbers to compute the percentage increase in real GDP per person from 1993 to 2012.
Question 49
Essay
Research suggests that taller workers tend to earn more income than shorter workers.What does this suggest about the relationship between workers' height and their productivity?
Question 50
Essay
Some economists argue that it is possible to raise the standard of living by reducing population growth.As an economist interested in incentives rather than coercion,what kind of policy would you recommend to slow population growth?
Question 51
Essay
What is the difference between human capital and technology?
Question 52
Essay
Brazil gives cash payments to its poor citizens on the condition that those citizens' children stay in school.In terms of the determinants of productivity,how might this public policy contribute to higher productivity in Brazil?