Question

4.?Answer True or False for each of the following. 4 pts each

The savings rate of American households has been higher recently than in the late 1990s.

In some less developed countries GDP grows more slowly than population does.

Net domestic investment has been greater than net national savings for some time.

?Robert Solow identified capital as the major source of economic growth.

?Malthus says there is a tendency for population to rise faster than production, causing famine.

?Most economists support the government establishing the “rule of law”.

Infrastructure refers to the quantity of production facilities an economy has.

More capital in quantity moves us along the production function while better quality raises it.

The US is a high savings high investing country compared to other developed countries.

High population growth is generally associated with higher growth in GDP per capita.

Answer 1