Developed countries that direct their investment towards physical capital rather than research and development can expect to
A. have a higher level of output in the short run and a higher long-run growth rate
B. have a lower level of output in the short run and lower long-run growth rate
C. have a lower level of output in the short run but a higher long-run growth rate
D. have a higher level of output in the short run but a lower long-run growth rate
E. achieve A) but only if the level of investment exceeds 1/3 of GDP
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For a developing country that wants to increase its stock of real capital fairly quickly, which of the following is NOT a valid option?
A. implementing policies designed to increase educational levels
B. asking foreign firms for direct investments in the country
C. borrowing funds from the World Bank for real capital investments
D. asking other countries for foreign aid to buy new machines
E. increasing private domestic saving
Roughly how many years will it take a country that grows at an average rate of 2% per year to double the size of its GDP?
A. 100
B. 50
C. 35
D. 20
E. 15
If two countries have the same share of investment to GDP, the one that experiences a faster growth rate is most likely the one that
A. emphasizes free market policies and encourages foreign trade
B. protects domestic industry from foreign competition with trade barriers
C. invests less in government infrastructure
D. has a higher share of government spending to GDP
E. has more government regulations and spends more funds to protect the environment
Countries with higher saving rates may have higher equilibrium growth rates since
A. people who save more also are more industrious
B. higher income allows for more savings
C. a higher saving rate allows for more investment in human capital which ultimately enhances economic growth
D. having more capital equipment is more important than having better capital equipment
E. none of the above
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