Refer to the Following Table When Answering
Table

question 89

Multiple Choice

Refer to the following table when answering
Table 6.1: Growth Accounting
$$\begin{array} { l | c c c c c } \hline \text { Growth (\%) } & 1948 - 2011 & 1948 - 1973 & 1973 - 1995 & 1995 - 2007 & 2007 - 2011 \\\hline K / L & 0.9 & 0.9 & 0.7 & 1.1 & 1.1 \\\text { Labor Comp } & 0.2 & 0.2 & 0.3 & 0.2 & 0.4 \\\text { TFP } & 1.4 & 2.2 & 0.5 & 1.5 & 0.4 \\\hline\end{array}$$
-Consider the growth accounting data in Table 6.1. If the production function is given by $Y _ { t } = A _ { t } K _ { t } ^ { 1 / 3 } L _ { t } ^ { 2 / 3 }$ , the fastest growth rate of per capita GDP occurred during which period?

• A) 1948-1973
• B) 1973-1995
• C) 1995-2007
• D) 2007-2011
• E) Not enough information.

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Definitions:

Collectivist Cultures

Societies that prioritize the needs and goals of the group over those of the individual.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms or politics.

Individualistic Cultures

Societies that stress the importance of personal achievements and independence over group goals.

Milgram's Study

A series of social psychology experiments conducted by Stanley Milgram, demonstrating people's willingness to obey authority figures, even when it involves harming others.