Chapter 13 Why Do Economies Grow?

| November 9, 2018

11)
Using the rule of 70, if the GDP per capita growth rate in the United States is
3.5%, real GDP per capita doubles every
A)
20 years.
B)
24.5 years.
C)
35 years.
D)
70 years.

12)
Using the rule of 70, if the GDP per capita growth rate in the United States is
4.4%, real GDP per capita doubles every
A)
6.72 years.
B)
15.91 years.
C)
44 years.
D)
65.6 years.

13)
Suppose the annual growth rate of GDP in Nepal is 5%. In 35 years, GDP in Nepal
will double
A)
1.75 times.
B)
2.5 times.
C)
7 times.
D)
24.5 times.

14)
Suppose the annual growth rate of GDP in Belize is 3.5%. In 20 years, GDP in
Belize will double
A)
1 time.
B)
1.5 times.
C)
3.5 times.
D)
7 times.

15)
When comparing the measure of goods and services of one country to that of
another, economists generally compare
A)
the real GDP.
B)
the real GDP per capita.
C)
the real GDP and net exports.
D)
the real GDP and the labor force.

16)
Over time, a country’s real GDP per capita typically
A)
shrinks.
B)
grows.
C)
remains stable.
D)
increases and decreases randomly.

Recall
the Application about the effect of global warming on economic growth to answer
the following question(s).

17)
Recall the application. The economic effects of increases in temperature seem
to
A)
be confined to poorer countries.
B)
be confined to richer countries.
C)
be equal across all countries.
D)
be nonexistent in most countries.

18)
Recall the application. A study of municipalities in Latin and South America
found that a one degree Celsius rise in temperature was associated with
A)
no measurable change in per capita income.
B)
a small decline in real income and a small increase in per capita real income.
C)
a slight increase in municipal per capita income.
D)
a decline in municipal per capita income.

19)
Recall the application. Over time, as economies adapt to higher temperatures,
A)
approximately half the decline in per capita income disappears.
B)
approximately half the increase in per capita income disappears.
C)
per capita income does not seem to change.
D)
real income begins to increase and per capita income begins to decrease.

20)
Recall the application. A one degree Celsius rise in temperature
A)
increases poor countries’ exports.
B)
decreases poor countries’ exports.
C)
increases rich countries’ exports.
D)
decreases all countries’ exports.

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