Measurements of TFP Indicate That the East Asian Success Story

question 41

Multiple Choice

Measurements of TFP indicate that the East Asian success story is based on

• A)a significantly different economic model from the one followed in the West.
• B)unusually large amounts of innovation.
• C)rapid increases in the education of the work force.
• D)high amounts of savings and investment.

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Definitions:

Reproductive Potential

The maximum number of offspring an individual or population can produce under optimal conditions.

Innovation Process

The sequence of activities that an individual or organization undertakes to move an idea from conception to implementation and diffusion.

Innovation

The process of creating new ideas, products, or methods that bring about significant improvements or changes.

Progress

The forward or onward movement towards achieving a goal or improving a situation.