Question 1

Which of the following is a good gauge of economic progress?

Accepted Answer

A)  the level of real GDP per person,but not the growth rate of real GDP per person
B)  the level of real GDP per person and the growth rate of real GDP per person
C)  the growth rate of real GDP per person,but not the level of real GDP per person
D)  neither the level nor the growth rate of real GDP per personE) A) and B)
F) A) and C) C

Question 2

Which of the following countries has had the greatest productivity per worker within the last ten years?

Accepted Answer

A)  ​Germany
B)  ​Nigeria
C)  ​Nicaragua
D)  ​IndiaE) A) and D)
F) B) and C)

Question 3

Which of the following are residents of rich countries likely to have in greater quantities,or better quality,than residents of poor countries?

Accepted Answer

A)  housing
B)  healthcare
C)  life expectancy
D)  All of the above.E) A) and B)
F) A) and C)

Question 4

In which of the following countries did real GDP per person fall by about 13% from 2000 to 2014?

Accepted Answer

A)  India
B)  Singapore
C)  Zimbabwe
D)  None of the above are correct.E) B) and C)
F) B) and D) C

Question 5

Over the past century in the United States,real GDP per person has grown,on average,by about

Accepted Answer

A)  1 percent per year.
B)  2 percent per year.
C)  3 percent per year.
D)  5 percent per year.E) A) and C)
F) All of the above

Question 6

During the past century the average growth rate of U.S.real GDP per person implies that it doubled,on average,about every

Accepted Answer

A)  100 years.
B)  70 years.
C)  35 years.
D)  25 years.E) A) and D)
F) B) and C)

Question 7

Over the last century,U.S.real GDP per person grew at a rate of about

Accepted Answer

A)  2 percent per year,so that it is now 2 times as high as it was a century ago.
B)  2 percent per year,so that it is now 8 times as high as it was a century ago.
C)  4 percent per year,so that it is now 2 times as high as it was a century ago.
D)  4 percent per year,so that it is now 8 times as high as it was a century ago.E) C) and D)
F) A) and B) B

Question 8

In which of the following countries has economic growth been sufficiently high that income would double every ten years?

Accepted Answer

A)  Singapore
B)  Nigeria
C)  India
D)  IndonesiaE) All of the above
F) None of the above

Question 9

A country experiencing a growth rate of 12% per year can go from being one of the poorest to one of the richest in how many generations?

Accepted Answer

A)  one
B)  two
C)  three
D)  fourE) None of the above
F) A) and B)

Question 10

A country experiencing a growth rate of 12% per year can go from being one of the poorest to one of the richest in

Accepted Answer

A)  one generation.In the last couple of decades China's growth rate has been higher than 12%.
B)  one generation.However,in the last couple of decades not even China's growth rate has been this high.
C)  three generations.In the last couple of decades China's growth rate has been higher than 12%.
D)  three generations.However,in the last couple of decades not even China's growth rate has been this high.E) A) and B)
F) B) and C)

Question 11

The average income in a rich country,such as the United States or Japan,is more than

Accepted Answer

A)  3 times,but less than 5 times,the average income in a poor country,such as Indonesia or Nigeria.
B)  5 times,but less than 10 times,the average income in a poor country,such as Indonesia or Nigeria.
C)  10 times,but less than 20 times,the average income in a poor country,such as Indonesia or Nigeria.
D)  more than 20 times the average income in a poor country,such as Indonesia or Nigeria.E) All of the above
F) None of the above

Question 12

Average income has been stagnant for many years in

Accepted Answer

A)  Western European counties.
B)  some Asian countries like South Korea and Singapore.
C)  some Sub-Saharan African countries.
D)  All of the above are correct.E) None of the above
F) A) and B)

Question 13

Average income in some East Asian countries,as measured by real GDP per person,has recently grown at an average annual rate that implies income will double about every

Accepted Answer

A)  10 years.
B)  15 years.
C)  20 years.
D)  25 years.E) B) and C)
F) A) and B)

Question 14

There are large differences in the standard of living

Accepted Answer

A)  across countries,but not within countries.
B)  within countries ​over time,but not across countries.
C)  across countries and within countries over time.
D)  across countries,but not in technology or healthcare.E) B) and D)
F) B) and C)

Question 15

In which of the following countries has economic growth been sufficiently high that income would double every ten years?

Accepted Answer

A)  India
B)  Mexico
C)  South Korea
D)  ZimbabweE) A) and B)
F) All of the above

Question 16

The average income in a rich country

Accepted Answer

A)  is about 5 times that in a poor country.Further,people in rich countries have longer life expectancy.
B)  is about 5 times that in a poor country.However,people in rich countries have about the same life expectancy as those in poor countries.
C)  is more than ten times that in a poor country.Further,people in rich countries have longer life expectancy.
D)  is more than ten times that in poor country.However,people in rich countries have about the same life expectancy as those in poor countries.E) A) and B)
F) None of the above

Exam 12: Production and Growth

Which of the following is a good gauge of economic progress?

Correct Answer
verified
C

Which of the following countries has had the greatest productivity per worker within the last ten years?

Correct Answer
verified

Which of the following are residents of rich countries likely to have in greater quantities,or better quality,than residents of poor countries?

Correct Answer
verified

In which of the following countries did real GDP per person fall by about 13% from 2000 to 2014?

Correct Answer
verified
C

Over the past century in the United States,real GDP per person has grown,on average,by about

Correct Answer
verified

During the past century the average growth rate of U.S.real GDP per person implies that it doubled,on average,about every

Correct Answer
verified

Over the last century,U.S.real GDP per person grew at a rate of about

Correct Answer
verified
B

In which of the following countries has economic growth been sufficiently high that income would double every ten years?

Correct Answer
verified

A country experiencing a growth rate of 12% per year can go from being one of the poorest to one of the richest in how many generations?

Correct Answer
verified

A country experiencing a growth rate of 12% per year can go from being one of the poorest to one of the richest in

Correct Answer
verified

The average income in a rich country,such as the United States or Japan,is more than

Correct Answer
verified

Average income has been stagnant for many years in

Correct Answer
verified

Average income in some East Asian countries,as measured by real GDP per person,has recently grown at an average annual rate that implies income will double about every

Correct Answer
verified

There are large differences in the standard of living

Correct Answer
verified

In which of the following countries has economic growth been sufficiently high that income would double every ten years?

Correct Answer
verified

The average income in a rich country

Correct Answer
verified

Exam 12: Production and Growth

Which of the following is a good gauge of economic progress?

Correct AnswerverifiedC

Which of the following countries has had the greatest productivity per worker within the last ten years?

Correct AnswerverifiedShow Answer

Which of the following are residents of rich countries likely to have in greater quantities,or better quality,than residents of poor countries?

Correct AnswerverifiedShow Answer

In which of the following countries did real GDP per person fall by about 13% from 2000 to 2014?

Correct AnswerverifiedC

Over the past century in the United States,real GDP per person has grown,on average,by about

Correct AnswerverifiedShow Answer

During the past century the average growth rate of U.S.real GDP per person implies that it doubled,on average,about every

Correct AnswerverifiedShow Answer

Over the last century,U.S.real GDP per person grew at a rate of about

Correct AnswerverifiedB

In which of the following countries has economic growth been sufficiently high that income would double every ten years?

Correct AnswerverifiedShow Answer

A country experiencing a growth rate of 12% per year can go from being one of the poorest to one of the richest in how many generations?

Correct AnswerverifiedShow Answer

A country experiencing a growth rate of 12% per year can go from being one of the poorest to one of the richest in

Correct AnswerverifiedShow Answer

The average income in a rich country,such as the United States or Japan,is more than

Correct AnswerverifiedShow Answer

Average income has been stagnant for many years in

Correct AnswerverifiedShow Answer

Average income in some East Asian countries,as measured by real GDP per person,has recently grown at an average annual rate that implies income will double about every

Correct AnswerverifiedShow Answer

There are large differences in the standard of living

Correct AnswerverifiedShow Answer

In which of the following countries has economic growth been sufficiently high that income would double every ten years?

Correct AnswerverifiedShow Answer

The average income in a rich country

Correct AnswerverifiedShow Answer

Correct Answer
verified
C

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
C

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
B

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified