When the Growth in Total Factor Productivity Is Zero, the Growth

question 112

Multiple Choice

When the growth in total factor productivity is zero, the growth in real GDP is

• A) always equal to zero.
• B) always negative.
• C) positive if resource growth is greater than zero.
• D) positive if the stock of capital and labor is depleting.
• E) always positive.

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Definitions:

John Quincy Adams

The sixth President of the United States, who previously played key roles in diplomacy and politics, and was notably involved in the "Corrupt Bargain" controversy.

Corrupt Bargain

A term referring to the alleged behind-the-scenes deal made during the 1824 U.S. presidential election, which supposedly led to John Quincy Adams being elected President and Henry Clay becoming his Secretary of State.

American System

An economic plan that played a significant role in American policy during the early 19th century, advocating for a strong federal government to create a protective tariff, a national bank, and internal improvements.

Corrupt Bargain

A term often used to describe the alleged deal between John Quincy Adams and Henry Clay that purportedly led to Adams winning the presidency in 1824 in return for appointing Clay as Secretary of State.