Question 1

It is well known that as countries develop, they typically generate air and water pollutants. China's recent rapid growth provides a strong example of this trend. However, what conclusions did Grossman and Krueger make concerning such cases?

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Question 2

Identify the three main ingredients which may serve to increase GDP.

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Question 3

What is a disembodied technological change? Provide an example.

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Question 4

You have just been appointed to a special Presidential Task Force on Economic Growth. You are responsible for proposing three policies that the government can enact to increase the growth rate. What policies would you recommend and why?

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Question 5

With the use of at least two examples show how disembodied technological change may actually have a negative consequence regarding the usual method of measuring output but a positive impact on total social welfare.

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Question 6

What is an aggregate production function? What does it show? Given an example of an aggregate production function.

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Question 7

Explain some of the reasons given for the productivity decline in the United States in the 1970s.

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Question 8

-Using the table above, compute the measured labor productivity and fill in the empty cells. What can you say about the returns to capital?

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-Using the table above, compute the measured...

Question 9

Explain the difference between an invention and an innovation. Provide an example of an invention and an innovation.

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Question 10

The output per worker at the XYZ Manufacturing Company has increased. What factors could have caused this increase?

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Question 11

Define foreign direct investment.

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Question 12

Identify three ways in which human capital can be produced.

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Question 13

Explain how each of the following is related to the rates of productivity and economic growth in an economy:
(a) The level of investment spending
(b) The extent of government regulation
(c) The level of spending on research and development
(d) The saving rate

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Question 14

Define labor productivity.

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Question 15

What is embodied technological change? Provide an example.

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Question 16

Explain how an increase in the stock of capital can increase output even if it is not accompanied by an increase in the labor force.

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Question 17

-Using the table above, compute the measured labor productivity and fill in the empty cells. Comment on whether the figures that you computed are what one would normally expect.

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