The four "Asian Tigers" achieved high economic growth between 1960 and 1990 since they
A. initially protected domestic firms, but then exposed them to foreign competition
B. had very high savings rates
C. had large increases in the labor force participation rates of women
D. increased inputs substantially, although total factor productivity did not increase substantially
E. all of the above
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Between 1966 and 1990 Singapore's GDP per capita grew at an average annual rate of 6.8%. During the same time frame its growth rate in total factor productivity was
A. 0.002
B. 0.012
C. 0.022
D. 0.032
E. 0.042
Between 1966 and 1990 Hong Kong experienced a much higher growth rate of output than Singapore. This was at least partially due to the fact that Singapore had a government that
A. emphasized a laissez-faire attitude towards market activities
B. maintained much tighter control over market activities
C. discouraged a rapid pace of foreign investment in new technology
D. imposed strict population control programs
E. none of the above
There is no simple relationship between the proportion of investment to output and the growth rate of per-capita output since
A. population growth rates differ among countries
B. income growth rates differ among countries
C. the efficiency of investment among countries can vary widely
D. the savings rates among countries can vary widely
E. none of the above
If factor markets were perfectly competitive, then full employment would be the normal condition and
A. inflation would always be zero
B. output would rise steadily with price increases
C. there would never be any reason for prices to change
D. the AS-curve would be horizontal
E. the AS-curve would be vertical
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