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In Table 7-2, which country had the highest growth rate of real GDP from 1999 to 2000? A

In Table 7-2, which country had the highest growth rate of real GDP from 1999 to 2000? A

 In Table 7-2, which country had the highest growth rate of real GDP from 1999 to 2000?

A) A

B) B

C) C

D) D

 

22) Suppose two countries have per capita real GDP of $20,000 in 1995. Country A has a growth rate of 4 percent and Country B has a growth rate of 5 percent. By 1998, the per capita real GDPs for the two countries respectively are (rounded up)

A) $21,630 and $22,050.

B) $22,400 and $23,000.

C) $22,500 and $23,150.

D) $22,400 and $25,000.

23) If we are interested in knowing whether a poor country is improving economically, we want to know not only what the economic growth rate is, but also

A) whether the economic growth rate is faster than other nations' growth rates.

B) whether government spending is growing at the same rate.

C) whether the economic growth rate is greater than last years rate.

D) whether the lowest income groups are benefiting from the growth.

 

24) Suppose two countries have identical growth rates of real GDP and the same initial value of per capita real GDP. We know, then, that

A) life expectancies are the same in both countries.

B) economic well-being is the same in both countries.

C) living standards may differ in the two countries because we don't know how income is distributed in the countries.

D) living standards in the two countries are probably identical, or very close to each other.

 

25) A small reduction in a country's growth rate is a concern to policy makers because

A) a small change can have large effects on per capita GDP over time.

B) a reduction usually leads to future reductions until finally the economy stagnates.

C) policy makers focus too much on economic growth and not enough on increasing savings rates.

D) the larger GDP is the better the economic welfare will be in the future.

 

26) A small improvement in a country's growth rate is a benefit to policy makers because

A) a small change can have large effects on per capita GDP over time.

B) inflationary pressures will prove inconsequential.

C) policy makers focus too much on economic growth and not enough on increasing savings rates.

D) the larger GDP is the better the economic welfare will be in the future.

27) Economic growth may understate changes in standards of living if

A) the growth is accompanied by increasing congestion.

B) leisure time is also increasing.

C) the types of jobs generated feelings of alienation.

D) deflation is taking place.

 

28) Economic growth may overstate changes in standards of living if

A) the growth is accompanied by increasing congestion.

B) leisure time is also decreasing.

C) the types of jobs generated feelings of alienation.

D) deflation is taking place.

 

29) Economic growth may overstate changes in the standard of living if

A) people are retiring at a younger age.

B) the average work week is increasing.

C) the number of students attending college is increasing.

D) expected life spans are increasing.

 

30) Economic growth may understate changes in the standard of living if

A) people are retiring at a younger age.

B) the average work week is decreasing.

C) the number of students attending college is increasing.

D) expected life spans are increasing.

Abhinav 07-Dec-2019

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