Deck 2: Global Production

Question 1

What do economic historians mean by the "Great Divergence"?

Answer 1

No Answer.

Question 2

What is the difference between cross-country comparisons of GDP per capita in US dollars and so-called purchasing power dollars (aka international dollars)?

Answer 2

No Answer.

Question 3

What are the proximate factors of economic growth?

Answer 3

No Answer.

Question 4

Name and explain major fundamental factors of growth.

Question 5

Explain the concept of growth accounting.

Question 6

What are the main drivers of labour productivity growth?

Question 7

What is total factor productivity (TFP)?

Question 8

What is the role of technology in catch-up growth?

Question 9

Explain the concept of the Environmental Kuznets Curve and the impact of eco-innovation on it.

Question 10

What is meant by "directed technological change"?

Question 11

Identify the 5 correct statements
1. The term "Great Divergence" signifies the recent economic rise of China.
2. For cross-country comparisons of GDP per capita it is best to measure it in purchasing power parity dollars.
3. Culture is an important proximate factor of growth.
4. Chance can indeed be a fundamental factor of growth
5. Growth accounting aims at quantifying the contribution of the proximate factors to economic growth.
6. Labour productivity can only be increased by increases in total factor productivity (TFP).
7. TFP measures the impact of new capital investments on productivity.
8. For a full catch-up with a country at the technological frontier, technological catch-up will typically be accompanied by capital deepening.
9. The Environmental Kuznets Curve describes a potential empirical relation between per-capita income and the degree of pollution.
10. "Directed technological change" means that technical progress is controlled by the state.