Multipl
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Choice Questions
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If real GDP grows by 5% per year, approximately how many years will it take for it to double?
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What is the most important ingredient in lon
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The technical means for the production of goods and services is known as
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Which of the following is a major reason for productivity growth?
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Refer to the following figure for Questions
5–
6.
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Assuming diminishing returns to physical capital, if physical capital per worker is 50,000, real GDP per worker will most likely equal which of the following?
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An upward shift of the curve shown could be caused by which of the following?
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Which of the following is true about the role of natural resources in productivity growth?
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According to the convergence hypothesis, over time, international differences in real GDP per capita will
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When the government spends money to create and implement new technologies, it has invested in
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Which of the following is part of an economy’s infrastructure?
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If lon
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An outward shift of the production possibilities curve indicates which of the following?
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In the aggregate supply and demand model, a rightward shift of the
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Which of the following will lead to lon
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If an economy experiences lon
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Depreciation leads to