Technological Change
Government policies that facilitate access to technology are crucial for countries that are…
A. High Income
B. Low Income
C. Highly Populated
D. Less Populared
What is A. Low Income?
As people’s health improves and they become stronger and less susceptible to diseases, they also become_______.
a. more politically enthusiastic
b. richer
c. more productive
What is C. more productive?
Policies that increase the incentives to save and invest will ______ the equilibrium level of loanable funds and may ______ the level of real GDP per capita.
A. Increase, Increase
B. Decrease, Increase
C. Increase, Decrease
D. Decrease, Decrease
Large, state-owned firms in China typically have __ productivity and ___ globally competitive.
a. low; are not
b. low; are
c. high; are not
What is a. Low and are not?
Many people argue against further economic growth in high-income countries due to concerns about its impact on this aspect. (Hint: Think Pitzer values)
What is the environment?
Recent economic growth in India has been greatly aided by the Indian government’s _______ of regulations on foreign investment.
A. Increase
B. Improvement
C. Relaxation
What is C. Relaxation?
Recent initiatives in developing countries to increase vaccinations, to improve access to treated water, and to improve sanitation have begun to_________.
a. reduce rates of poverty and homelessness
b. reduce rates of illness and death
c. reduce rates of illiteracy
These accounts are not taxed until they are withdrawn.
What are retirement accounts?
China's facing a turning point with its labor force aging and ______ drying up.
a. the rural pool of low-wage workers
b. the urban pool of low-wage workers
c. the rural pool of high-wage workers
What is A. The rural pool of low wage workers?
Opposition to globalization is fueled by the belief that it has eroded the distinct cultures of many countries due to its replacement of domestically produced goods by the following:
What is imports of food, clothing, movies and other goods?
What it is called when foreign firms are allowed to build new facilities and buy domestic firms
What is Foreign direct investment?
the market may produce an inefficiently low level of education and training unless the government does this to help education.
What is Subsidizes?
Firms turn to this market to finance expansion and research and development
What is the loanable funds market?
A good part of China’s growth is due to the transition from a _____ to a ________.
a. market economy; centrally planned economy
b. centrally planned economy; market economy
c. centrally planned economy; communist economy
What is B. centrally planned economy and market economy?
Foreign direct investment is essential for low-income countries to access the latest technology. However, some argue that multinational firms behave unethically in these countries, primarily due to these reasons:
What are low wages and failure to comply with safety and environmental regulations?
In high income countries, government policies subsidise these two areas to aid the growth of technology
What is Research and Development?
Rapid economic growth in India and China in recent years has resulted in more people deciding to ____ rather than ______.
a. remain in those countries; leave for high-income countries
b. remain in those countries; leave for low-income countries
c. leave for low-income countries; remain in those countries
What is A. remain in those countries; leave for high-income countries?
These are three accounts/plans people use to save for retirement.
What are 401K plans, 403B plans, and IRA accounts?
China’s economic growth has depended on moving workers from this type of job to manufacturing jobs.
What is agriculture?
While economic analysis can help in discussing economic growth, it cannot fully answer this type of question:
What are Normative questions? (EX: Is Economic Growth Good or Bad AKA any question involving judgements about the desirability of economic growth)
This helps in allowing firms undertaking research and development to facilitate technological change (Hint: It is not a person or group of people)
What are Tax breaks?
The rising incomes that result from economic growth can help developing countries deal with this phenomenon, which refers to highly educated and successful individuals leaving developing countries for high-income countries. (Hint: otherwise known as human capital flight.)
What is brain drain?
Governments use this type of tax credit to increase incentives for firms to engage in investment in physical capital
What are investment tax credits?
Although China has been successful in this aspect, it has been much less successful in developing new technologies.
What is adopting existing technologies?
In 1972, the Club of Rome published a book predicting that economic growth would likely come to a halt in high-income countries due to these reasons. (Hint: Think United States, Saudi Arabia…)
What is increasing pollution and depletion of natural resources like oil?