Practice chapter 11 – economic growth and the wealth of nations

 

Practice Chapter 11 - Economic Augmentation and the Abundance of Nations

Multiple Choice

Identify the dainty that best completes the proposition or answers the interrogation.

1.      Economic augmentation is defined as:

a.        the percent vary of impure not-public emanation (GDP).

b.        the percent vary of genuine GDP.

c.        the percent vary of genuine per capita GDP.

d.        the percent vary of per capita GDP.

e.        the percent vary of population.

2.      According to the textbook, which of the subjoined reckonries is not cogitateed a “wealthy nation”?

a.        Denmark

b.        Israel

c.        Germany

d.        Liberia

e.        the United States

3.      Higher trounces of economic augmentation are negatively correlated delay:

a.        rectify education.

b.        rectify bloom custody.

c.        shorter history trust.

d.        the reckon of physicians per capita.

e.        adult literacy.

4.      Balance globe allowance began to extension ahead during:

a.        the Enlightenment.

b.        the Dark Ages.

c.        the Second Globe War.

d.        the War of the Ring.

e.        the Industrial Revolution.

5.      If an arrangement experiences economic augmentation, does that moderation that perfectone in that arrangement earn be rectify  off?

a.        No, it moderations that the balance special is rectify off.

b.        Yes, that is the restriction of economic augmentation.

c.        Yes, but barely if there is dwarf migration during that age continuance.

d.        No, economic augmentation is not correlated delay standards of assistance.

e.        Yes, but barely if trifling impure not-public emanation (GDP) extensions.

6.      In 2010, U.S. impure not-public emanation (GDP) was roughly $14.6 trillion. Dedicated that the U.S. population was roughly 308 pet mob, per capita GDP in the United States in 2010 was roughly:

a.    $4,760.

b.    $0.22.

c.    $47,403.

d.    $22,000.

e.    $475,990.

7.      From 2011 to 2012, U.S. genuine GDP extensiond by 2.2% and the U.S. population grew by 1%. Therefore, per capita genuine GDP in the United States extensiond by:

a.    2.8%.

b.    1.2%.

c.    3.8%.

d.    1.8%.

e.    5.4%.

8.      Trifling impure not-public emanation (GDP) is a deficient mete of economic augmentation because:

a.        it does not reckon boarding by not-public businesses.

b.        it overstates the significance of consumer spending.

c.        it does not comprise synod spending.

d.        it ignores significances and exports.

e.        it does not cogitate varys in compensations or population augmentation.

9.      Annual genuine per capita impure not-public emanation (GDP) in the United States was roughly $44,000 in 2000. If it grew by 3% the subjoined year, by 2001 the annual genuine per capita GDP would be:

a.    $57,200.

b.    $42,718.

c.    $33,846.

d.    $45,320.

e.    $1,320.

10.      From 2009 to 2010, trifling impure not-public emanation (GDP) in the United States grew by 3.8%. Dedicated that compensations extensiond by 1% and the population grew by 1%, we recognize that per capita genuine GDP grew by:

a.    3.8%.

b.    1.8%.

.      2.8%.

d.    4.8%.

e.    5.8%.

11.      From 2009 to 2010, trifling impure not-public emanation (GDP) in the United States grew by 3.8%. Dedicated that compensations extensiond by 1% and per capita genuine GDP grew by 1.8%, we recognize that the population grew by:

a.    2%.

b.    1.8%.

c.    1%.

d.    4.8%.

e.    5.8%.

12.      In 2010, genuine impure not-public emanation (GDP) in the United States was roughly $14.6 trillion. In 2011, genuine GDP      in the United States was roughly $15.1 trillion. Therefore, among 2010 and 2011, genuine GDP grew by:

a.    4.3%.

b.    3.4%.

c.    3.3%.

d.    4.5%.

e.    0.5%.

13.      In 2010, per capita genuine impure not-public emanation (GDP) in the United States was roughly $46,000. In 2011, per capita genuine GDP in the United States was roughly $48,400. Therefore, among 2010 and 2011, the trounce of economic augmentation in the United States was:

a.    2.5%.

b.    2.4%.

c.    4.9%.

d.    5.2%.

e.    0.5%.

14.      From 2009 to 2010, per capita genuine impure not-public emanation (GDP) in the United States grew by 1.8%. Given  that compensations extensiond by 1% and the population grew by 1%, we recognize that trifling GDP grew by:

a.    4.8%.

b.    1.8%.

c.    2.8%.

d.    3.8%.

e.    5.8%.

15.      In 2009, per capita genuine impure not-public emanation (GDP) in Croatia was $10,059.68. By 2010, it had extensiond      to $10,257.71. At what trounce did Croatia’s arrangement amplify in that age?

a.    1.97%

b.    1.93%

c.    2.08%

d.    4.54%

e.    3.33%

16.      If you attempted to indicate  if the standard  of assistance of a reckonry has extensiond by looking barely at varys    in its trifling impure not-public emanation (GDP), what would you be dropping?

a.        The event that trifling GDP comprises all economic earnestness, including sales of used result and illicit result

b.        The event that trifling GDP barely cogitates varys in the compensation roll but ignores varys in population

c.        The event that an extension in trifling GDP normally moderations that standards of assistance   are devolution, not elevation

d.        The event that, in the crave run, trifling GDP is the best mete of overall economic augmentation

e.        The event that an extension in trifling GDP does not necessarily moderation that standards    of assistance are elevation, due to varys in compensations and the population

17.      If your allowance extensions at a trounce of 2% per year, how crave earn it accept to envelop your allowance?

a.        10 years

b.        25 years

c.        35 years

d.        50 years

e.        75 years

18.      James has is-sueed for the selfselfsame gang his solid history. His running allowance is $100,000 per year. When he       was originally compensated, he made $50,000 per year. The gang has dedicated James a compatible erect of 2% perfect year. How crave has James been delay the gang?

a.        10 years

b.        25 years

c.        35 years

d.        50 years

e.        75 years

19.      From 2006 to 2010, per capita genuine impure not-public emanation (GDP) in China grew an balance of 10.62% per  year. At that trounce, according to the Rule of 70, in roughly how frequent years earn Chinese per capita genuine GDP envelop in extent, preface in 2006?

a.        7.4 years

b.        5.9 years

c.        8.1 years

d.        6.6 years

e.        9.9 years

20.      From 2006 to 2010, per capita genuine impure not-public emanation (GDP) in the Philippines grew an balance of 3.16% per year. At that trounce, according to the Rule of 70, in roughly how frequent years earn the Filipino arrangement envelop in extent?

a.        21 years

b.        12 years

c.        22 years

d.        45 years

e.        33 years

21.      An extension in   would control to an extension in crave-run economic augmentation.

a.        consumer spending and borrowing

b.        synod taxes and fees

c.        instrument and technology

d.        significances and exports

e.        compensations and cause trounces

22.      Instrument are:

a.        the output that firms amount.

b.        inputs used to amount result and services.

c.        the technology that firms use to fabricate things.

d.        the literatures that help competency.

e.        the require of unresisting result and services.

23.      Which of the subjoined are the three main categories of instrument?

a.        material principal, technology, literatures

b.        place, strive, technology

c.        literatures, rational principal, place

d.        normal instrument, material principal, rational principal

e.        strive, material principal, technology

24.      Which of the subjoined would be classified as a normal contrivance?

a.        obtaining a propaganda degree

b.        a eventory

c.        coal

d.        a loaf of bread

e.        wirenear networking equipment

25.      Lauren owns a bakery. She wants to extension her daily emanationion of baked result, so she recognizes she needs to earn past instrument. Which of the subjoined actions would reproduce-exhibit an extension in the material principal contrivance at her bakery?

a.        tender into a liberalr space

b.        increasing employee trailing

c.        hiring past employees

d.        buying rectify-description ingredients

e.        hiring an accountant to feel payroll

26.      Which of the subjoined would be classified as rational principal?

a.        obtaining a propaganda degree

b.        a eventory

c.        coal

d.        a loaf of bread

e.        wirenear networking equipment

27.      Steve owns a bike accumulation. He wants to extension the reckon of bikes he hawks each month, so he recognizes he needs    to earn past instrument. Which of the subjoined actions would reproduce-exhibit an extension in the rational principal contrivance at his bike accumulation?

a.        purchasing past bikes for his showroom

b.        increasing the trailing for his employees

c.        increasing the hours of operation

d.        increasing the extent of his accumulation

e.        buying past bike-repair equipment

28.      Nathan owns a coffee accumulation. He wants to extension the weekly reckon of coffee drinks he hawks, and he wants to   use a technological progression to do so.   would reproduce-exhibit a technological progression at his coffee accumulation.

a.        An extension in the reckon of employees

b.        An proficiency in the description of coffee drinks he serves

c.        An extension in the reckon of tables and chairs for his customers

d.        Acquiring a new espresso implement that can just coffee drinks faster than his running model

e.        A liberalr building

29.      As they detail to economic augmentation, literatures are:

a.        instrument, enjoy strive and principal, for specimen.

b.        abundance, allowance, and compensations.

c.        unanalogous rolls of synod: federal, aver, and topical.

d.        specialal relationships among members of a sociality.

e.        expressive practices, relationships, or organizations in sociality.

30.      In 1950, residents in Liberia were abundanceier than those in Taiwan. Today, per capita impure not-public emanation (GDP) in Taiwan is past than 20 ages that of Liberia. Which of the subjoined best explains why Taiwan is  now so considerable abundanceier than Liberia?

a.        Taiwan is a very liberal reckonry delay lots of instrument, opportunity Liberia is very weak.

b.        Liberia lacks the description of literatures that further augmentation that Taiwan has.

c.        Taxes in Liberia are very haughty and bar the arrangement from amplifying.

d.        All emanationion in Taiwan is managed by the synod, opportunity in Liberia, the uncounted dispense allocates instrument.

e.        Liberia does not employment delay other reckonries, opportunity Taiwan has frequent trading partners.

31.      Which of the subjoined is an specimen of an literature that furthers economic augmentation?

a.        not-public possessions rights

b.        bartering as a moderations of employment

c.        haughty barriers to interdiplomatic employment

d.        immutable war and conflict

e.        collective possessions ownership

32.      Preface in the delayed 1970s, economic ameliorate in China allowed farmers, for the earliest age, to tend a portion         of their crops and to hawk them to others. Previously, all livelihood was indiscriminately farmed and shared. How did this basic ameliorate reform China’s economic augmentation?

a.        It gave topical synods an motive to tax farmers.

b.        It gave farmers an motive to be past emanationive.

c.        It gave farmers an motive to is-sue near.

d.        It gave the exoteric synod an motive to significance livelihood.

e.        It gave consumers an motive to eat near.

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