Cards (38)

  • Technological advances increase productivity
  • A well-educated workforce contributes to long-term economic growth
  • What is a key driver of economic growth?
    Technological progress
  • What critical factor enhances the efficiency and capacity of the economy?
    Technological progress
  • Match the component of human capital with its impact on economic growth:
    Education ↔️ Increases worker skills and knowledge
    Healthcare ↔️ Ensures a healthy and productive workforce
    Training ↔️ Improves on-the-job capabilities
  • Technological advances are a key factor driving economic growth.

    True
  • Increased investment in physical capital leads to higher GDP.

    True
  • What is the primary effect of technological progress on businesses?
    Increases productivity
  • What does human capital development improve in the workforce?
    Skills, knowledge, and health
  • Order the components of human capital development and their impact on economic growth.
    1️⃣ Education - Increases skills and knowledge
    2️⃣ Training - Improves on-the-job capabilities
    3️⃣ Healthcare - Ensures a healthy workforce
  • Economic growth is a crucial driver of living standards but should be evaluated using a broader range of measures
  • Sustainable economic growth aims for long-term prosperity while preserving resources and promoting social equity.

    True
  • Real GDP accounts for income earned abroad by residents.
    False
  • Increased investment in physical capital leads to higher GDP.

    True
  • Technological progress enhances the efficiency and capacity of the economy
  • Renewable energy reduces reliance on fossil fuels and lowers energy costs.

    True
  • Human capital resides within individuals and continuously evolves.

    True
  • Real GDP reflects domestic productivity
  • Capital drives economic growth by boosting productivity
  • Order the factors driving economic growth from most transformative to least transformative:
    1️⃣ Technological Progress
    2️⃣ Human Capital Development
    3️⃣ Capital Accumulation
  • Investing in human capital improves labor quality, innovation, and long-term economic performance
  • Technological progress is the sole driver of long-term economic expansion.
    False
  • Effective coordination between government policy areas can lead to sustainable economic expansion
  • GDP and GNI fully capture improvements in living standards.
    False
  • What are the three pillars of sustainable economic growth?
    Economic progress, environmental protection, social well-being
  • Economic growth is often measured by the percentage change in real GDP
  • Match the type of capital with its definition:
    Physical Capital ↔️ Man-made goods used in production
    Human Capital ↔️ Skills and knowledge of workers
  • Order the following transformative technologies based on their impact on economic growth:
    1️⃣ Computers and Automation
    2️⃣ Internet and Digital Communications
    3️⃣ Renewable Energy
    4️⃣ Biotechnology
  • Computers and automation increase efficiency and output in manufacturing, services, and information processing
  • Human capital development enhances the skills, knowledge, and health of the workforce
  • How is economic growth often measured?
    Real GDP or GNI
  • What are three key factors driving economic growth?
    Technological advances, capital accumulation, human capital development
  • How is human capital developed?
    Education, training, experience
  • The Internet is an example of technological progress that revolutionized communication and commerce.

    True
  • Technological progress enables businesses to produce more with fewer resources
  • Fiscal policies can lead to higher debt and crowd out private investment.
    True
  • What is the primary link between economic growth and living standards?
    Increased incomes and job opportunities
  • Tax incentives for businesses adopting sustainable practices are an example of sustainable economic growth policy