Growth
About the Lecture
The lecture Growth by James DeNicco is from the course Principles of Macroeconomics (EN). It contains the following chapters:
- Introduction to Growth
- Factors of Production and Growth
- Solow Growth Model
- Equation for the Net Capital to Labor Ratio
- The Steady State
- Unconditional Convergence
- Savings Rate
- Total Factor Productivity
- Population Growth Rate
Included Quiz Questions
What is growth about?
- It is about evolving the standards of living.
- It is about making wealthy countries richer.
- It is about taking money from rich countries and give it to poor countries.
- It is about evolving the technology of a country.
- It is about keeping the standards of living.
A factory is an example of _____________ and the skill level of your workforce is an example of _____________.
- Physical capital; human capital
- Human capital; physical capital
- Physical capital; entrepreneurship
- Physical capital; natural resource
According to the principle of diminishing returns, if the amount of workers and other inputs are held constant, purchasing additional capital…
- ...increases output at a decreasing rate.
- ...increases output at an increasing rate.
- ...increases output at a constant rate.
- ...decreases output at an increasing rate.
You can find the steady state of the capital to labor ratio where these two curves intersect. Which terms are in demand?
- Investment, effective depreciation
- Investment; GDP per capita
- Savings; investment
- Effective depreciation; GDP per capita
Unconditional convergence states that countries will converge _____________ and conditional convergence states that countries will converge _____________.
- Always; if they share similar characteristics
- If they share similar characteristics; always
- Sometimes; if they are both democracies
- Always; never
The following will increase the steady state of the capital to labor ratio in the Solow Growth Model.
- An increase in Total Factor productivity.
- A decrease in the savings rate.
- An increase in the population growth rate.
- An increase in the depreciation rate.
Author of lecture Growth
James DeNicco
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