World growth data reveals that from 1960 to 2011:
A) all countries grew at similar rates.
B) sub-Saharan African countries grew moderately.
C) some countries particularly East Asian countries grew rapidly.
D) the US and other OECD countries stagnated.
Correct Answer:
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Q1: Saving is income that is not consumed.
Q2: The standard of living of people in
Q4: A in the production function Y =
Q5: If the production function Y = A
Q6: Real saving equals gross investment.
Q7: If A in the production function Y
Q8: In the production function Y = A
Q9: Diminishing returns to labour implies that eventually
Q10: World growth data reveals that from 1960
Q11: The marginal product of labour is:
A)how much
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