Macroeconomics chapter 28
Between 1950 and 2015, U.S real GDP grew at an average annual rate of about...
3.1%
Under what circumstances do rates of economic growth understate the growth of economic well being?
Product quality
The entry of women into the workforce since the 1960s resulted in...
a shift inward in the production possibilities curve of the U.S.
Many economists studying the productivity-growth patterns in the U.S believe that in the period 1995-2010, the productivity of labor in the nation...
benefited from a significant wave of technological advance, coupled with global competition
What economic concept would be most closely associated with a situation where an aluminum plant expands its operations and uses extensive computerization in the production line to reduce per-unit costs of production
economics of scale
An antigrowth view would be that there may be significant trade-off between productivity and...
economies of scale
Rising real wages for women in the U.S workforce since the 1960s have...
increased the opportunity cost of staying at home
The largest contributor to increases in the productivity of American labor is...
technological advance