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The average annual growth rates of labor productivity from 1960 to 1973 were
_____ the average rates over the period from 1973 to 1995.
YES more rapid than
slower than
NO about the same as
more rapid in the U.S., but slower in other industrialized countries
slower in the U.S., but more rapid in other industrialized countries
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Based on the table below, if the production process described below is subject to
diminishing returns to capital, then total packages wrapped when a fourth machine
is installed must be less than _____ packages.
Alpha = 2000*(1.01)^100
Omega = 2000*(1.02)^100
7. High rates of saving and investing in the private sector promote economic
growth by
increasing human capital.
YES increasing physical capital.
improving technology.
NO improving the social and legal environment.
increasing the availability of natural resources.
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