Which of the following is correct

Which of the following is correct?Select one:a. Neo-classical growth theorists generally agree that growth is caused by rapid capitalaccumunlation reflected in high saving and investment.b. Neo-classical growth theorists generally agree that new ideas and new products represent theengine of long-term growth.c. Neo-classical growth theorists generally do not agree with each other.d. Neo-classical growth theorists generally agree that export-led growth, strong property rights andgood entrepôts are vital for long term economic growth. A capital output ratio of 5 means:Select one:a. $1 of net investment will reduce productive capacity by $5.b. $5 of net investment will increase productive capacity by $1.c. $1 of gross investment will increase productive capacity by $5.d. $5 of gross investment will increase productive capacity by $1. According to neo-classical theory as capital is accumulated and capital per unit of labour increases:Select one:a. This leads to less output since workers tend to become less hard working when working with bigmachines.b. Increases the productivity of labour and economic growth.c. The marginal productivity of capital increases.d. This leads to a reduced rate of economic growth as workers lose their jobs to the machine. Total Factor Productivity refers to:Select one:a. The miracle factors in the growth of the NIEs.b. The average productivity of all factors employed in an economy.c. A measure of the productivity of capital and technology.d. The returns to investment in human capital. Why did the State in South Korea intervene more heavily in influencing decisions made by firmsabout investment than the State in Taiwan?Select one:a. South Korean businesses were more compliant with government demands than those in Taiwan.b. South Korea was a military dictatorship in the 1960s.c. The development of factor markets in South Korea lagged far behind those in Taiwan, and theState sought to overcome these market failures.d. Taiwan’s leaders were all free-market advocates. Multinational corporations are:Select one:a. International carriers of capital and technology only.b. International carriers of capital and skilled labour only.c. International carriers of skilled labour and technology only.d. International carriers of skilled labour, technology and capital. The NIEs provide examples of economies where a high rate of growth was accompanied by:Select one:a. Very high and increasing inequality.b. Very high but declining inequality.c. Low inequality and strong performances in terms of poverty reduction.d. Low inequality but poor performance in poverty reduction. Which of the following is the most appropriate statement about agricultural policy in the NIEs?Select one:a. To hasten structural change polices to reduce tariff protection have been given the highestpriority.b. Tariff polices have had a positive effect on the incomes of agricultural producers.c. Dramatic increases in agricultural production have been achieved through a combination of anovervalued exchange rate and government control of marketing channels.d. Downsizing the agricultural sector has always been a major focus of government policy. According to Krugman, Asian economic growth is mainly due to:Select one:a. Technological catch-up.b. The fast expansion of factor inputs.c. The growth of Total Factor Productivity.d. High rates of investment. What is the most accurate statement regarding institutions and economic growth?Select one:a. Good institutions lead to lower transaction costs and therefore lead to economic growth.b. Good institutions alone do not lead to economic growth.c. Better institutions might not only improve economic growth, economic growth might also improvethe quality of the institutions.d. All of the above. APEC is best described as:Select one:a. A Free Trade Area.b. A forum that discusses both economic and security issues in Asia.c. An economic forum to promote economic cooperation in the Asia-Pacific Region and openness inthe global economy.d. Both B and C. Economists have traditionally suggested that a major goal in fisheries management should be:Select one:a. Maximum sustainable yield.b. Maximum economic yield.c. Bionomic equilibrium.d. Increased subsidies to poor fishers. According to the Heckscher-Ohlin theorem, international trade arises because of:Select one:a. Differences in relative factor endowments.b. Differences in technology.c. Differences in taste and preferences.d. The existence of economies of scale. Which of the following is unlikely to be prescribed as part of a typical IMF stabilisation programme?Select one:a. Liberalisation of foreign exchange controls.b. Devaluation of the exchange rate.c. Reduction in domestic interest rates.d. Government spending cuts.

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