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Economic Growth and Productivity
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Economic Growth and Productivity
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12 Questions

1. If an economy increased its output without utilizing an increase in the factors of production, it is said that
2. Allocative efficiency refers to
3. The Rule of 70 refers to
4. If the U.S. economy has a 2% annual growth rate, how long will it take for real GDP to double?
5. If there is an increase in capital stock, it will most likely lead to
6. GDP per capita refers to
7. Economists calculate how wealthy nations are by measuring their
8. Suppose there is a major increase in population after five years. This will most likely result in
9. The president of the United States encourages Americans to help the economy grow. One suggestion would most likely be to
10. "An increase in per capita GDP"
11. Derek works as a construction worker. Recently, he became certified to operate a large construction crane used to build skyscrapers. Economists would refer to this knowledge and skill as
12. All of the following influence a nation’s rate of growth EXCEPT

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