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Adam Smith revolutionized the way we think about economic growth with his celebrated book called

 Adam Smith revolutionized the way we think about economic growth with his celebrated
                            book called _________ that was published in _________ .

a.Progress and Poverty; 1890

b.Capital; 1867

c.The Theory of Business Cycles; 1936

d.The Wealth of Nations; 1776

e.The Theory of Economic Growth; 1914

72.              Capital deepening refer to

a.the rise in the ratio of capital to labor

b.the rise in the ratio of capital to output

c.infrastructure investment

d.more unprofitable investment following upon unprofitable investment

e.heavy industry construction

73.              In the capital-deepening model of economic growth, capital deepening is associated with

a.decreasing labor productivity

b.increasing labor productivity

c.decreasing capital output ratio

d.increasing capital output ratio

e.less capital per worker

74.              The labor productivity curve in the capital deepening model of economic growth

a.is inversely related to capital deepening

b.increases at an increasing rate

c.increases at a decreasing rate

d.is an upward sloping straight-line

e.is a downward sloping straight line

75.              If capital deepening increases from $100 to $150 and this increase results in worker’s
                            productivity increasing from $60 to $70, and if there were 100 workers, then GDP is

a.$10,500

b.$6,000

c.$1,500

d.$7,000

e.$1,000

76.              If capital deepening increases from $100 to $150 and this increase results in worker’s
                            productivity increasing from $60 to $70, and if there were 100 workers, then GDP would
                            increase by

a.$10,500

b.$6,000

c.$1,500

d.$7,000

e.$1,000

Feb 11 2020 View more View Less

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