I have 4 questions. Each question I need you to choose the correct answer and justify it. I need it within 7 hours
1-Which of the following describes the Soviet Union’s economy in the second half of the 20th century?
The Soviet economy grew because it added labor through immigration policy in the 1950s. B)
The Soviet economy increased capital per worker very slowly from 1950 through 1980. C)
The Soviet economy grew rapidly in the later half of the 20th century. D)
The Soviet economy eventually grew slowly because of the slow rate of technological change.
2-Endogenous growth theory states that increases in ________ capital will result in ________ at the ________ level.
knowledge; increasing returns to scale: firm B)
physical; decreasing returns to scale; firm C)
knowledge; increasing returns to scale; economy D)
knowledge; decreasing returns to scale; economy
3-Some economists argue that the productivity slowdown from mid 1970s to mid 1990s actually didn’t happen, but just “appeared” to happen because
new environmental laws had passed and forced firms to spend to reduce pollution and this spending did not raise output. B)
services were becoming a more important part of the economy and it was hard to measure increases of output from services. C)
increased spending on health and safety raised worker productivity. D)
A and B. E)
B and C.
Which of the following is NOT an explanation for the revival in the growth of productivity starting in the mid 1990s?
Cell phones and wireless Internet access increase worker flexibility. B)
Internet use has increased the efficiency of how firms buy and sell to each other and to consumers. C)
Information and communication innovations are increasingly geared toward improving business processes and not consumer products. D)
Faster computers have sped up data processing.