1 A) 50 years B) 40 years C) 35 years D) 33 years 2 A) 0.2% B) 0.4% C) 4% D) $200 billion 3 A) the supply of natural resources increased B) the supply of labor increased C) potential GDP increased D) technology improved 4 A) Higher spending on rising output B) Improved technology C) Utilizing resources in the least costly way D) Increases in the quantity of human resources 5 inside of its production possibilities curve to a point on the curve. The most likely source of this economic growth is:A) supply factors B) demand and efficiency factors C) increases in the quality of inputs D) technological change 6 primarily to:A) differences in patent law and enforcement B) leader countries growing at a much faster rate than follower countries over the past 100 years C) different starting dates for modern economic growth D) cultural differences in labor force participation and hours of work 7 A) strong property rights, religious freedom, and restricted trade B) wide-spread education, free trade, and strong property rights C) religious freedom, patents and copyrights, and government economic planning D) strong industrial regulation, government economic planning, and restricted trade 8 A) multiplying total hours of work times labor productivity B) multiplying total wages paid times output per hour of work C) dividing total wages paid by labor productivity D) dividing total hours of work by labor productivity 9 A) both the average educational level and the relative quality of education have increased B) both the average educational level and the relative quality of education have declined C) the average educational level has increased but the relative quality of education has declined D) the average educational level has declined but the relative quality of education has improved 10 except :A) invention and innovation associated with the microchip B) economies of scale for newly emerging enterprises C) increasing global competition D) a higher rate of personal saving
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