1. Economic growth is measured as an increase in real GDP.
True/False
2. Per capita real GDP
a) is equivalent to the real GDP level.
b) is a measure of the value of output produced and available to an average person.
c) is higher in developing countries.
d) is a measure of an economy's income distribution.
e) is a measure of the GDP per country.
3. Suppose Congress enacts a 5 percent decrease in annual military expenditures. Other things equal, this will be associated with a movement down along the aggregate demand curve.
True/False
4. In relative terms, globalization has affected all countries equally.
True/False
5. There was more immigration in the nineteenth and early twentieth centuries than there is in the present day.
True/False
6. Suppose that Italy's average annual growth rate is 6 percent and Canada's average annual growth rate is 4 percent. Then the time required for Canada's growth rate to double will be 12 years more than the time required for Italy's growth rate to double.
True/False
7. Assume that annual real GDP increases by 4.5 percent and the population size grow by 2.7 percent in a year. The annual percapita real growth rate will be 2.8 percent
True/False
8. Most developing countries
a) have no natural resources.
b) experience slow growth in their labor force.
c) allocate their resources to the production of capital goods.
d) are unable to convert their natural resources into productive inputs.
e) make inefficient use of their technological advancement.
9. Economic statistics show that in compared to First World countries, developing countries have
a) a higher life expectancy.
b) higher productivity rates.
c) lower education levels.
d) lower birthrates.
e) a higher rate of private investment.
1. Economic growth is measured as an increase in real GDP.
True/False
2. Per capita real GDP
a) is equivalent to the real GDP level.
b) is a measure of the value of output produced and available to an average person.
c) is higher in developing countries.
d) is a measure of an economy's income distribution.
e) is a measure of the GDP per country.
3. Suppose Congress enacts a 5 percent decrease in annual military expenditures. Other things equal, this will be associated with a movement down along the aggregate demand curve.
True/False
4. In relative terms, globalization has affected all countries equally.
True/False
5. There was more immigration in the nineteenth and early twentieth centuries than there is in the present day.
True/False
6. Suppose that Italy's average annual growth rate is 6 percent and Canada's average annual growth rate is 4 percent. Then the time required for Canada's growth rate to double will be 12 years more than the time required for Italy's growth rate to double.
True/False
7. Assume that annual real GDP increases by 4.5 percent and the population size grow by 2.7 percent in a year. The annual percapita real growth rate will be 2.8 percent
True/False
8. Most developing countries
a) have no natural resources.
b) experience slow growth in their labor force.
c) allocate their resources to the production of capital goods.
d) are unable to convert their natural resources into productive inputs.
e) make inefficient use of their technological advancement.
9. Economic statistics show that in compared to First World countries, developing countries have
a) a higher life expectancy.
b) higher productivity rates.
c) lower education levels.
d) lower birthrates.
e) a higher rate of private investment.
