Filters
Question type
Study Flashcards

International data on the history of real GDP growth rates shows that over the last 120 years or so,rich countries got richer and poor countries got poorer.

A) True
B) False

Correct Answer

verifed

verified

False

An increase in capital increases productivity only if it is purchased and operated by domestic residents.

A) True
B) False

Correct Answer

verifed

verified

False

Over the period 1900-2014,Brazil's rate of economic growth exceeded that of China.

A) True
B) False

Correct Answer

verifed

verified

If a rich country reduced subsidies to domestic producers of goods that poor countries have a comparative advantage producing,the standard of living in these poor countries would likely rise.

A) True
B) False

Correct Answer

verifed

verified

If it could increase its growth rates slightly,a country with low income would catch up with rich countries in about ten years.

A) True
B) False

Correct Answer

verifed

verified

Real GDP per person in rich countries,such as Germany,is sometimes more than 10 times that of poor countries like India.

A) True
B) False

Correct Answer

verifed

verified

Investment in human capital has opportunity costs,but investment in physical capital does not.

A) True
B) False

Correct Answer

verifed

verified

Over the last 140 years or so,on average Canada's real GDP per-person grew faster than that of the U.K.

A) True
B) False

Correct Answer

verifed

verified

Assuming constant returns to scale,if two countries are otherwise the same,the one that is poorer grows faster.

A) True
B) False

Correct Answer

verifed

verified

In the United States in 2014 real GDP per person was about $56,000,while in some poor countries real GDP per person was less than $5,000.

A) True
B) False

Correct Answer

verifed

verified

Income rises after a charity gives poor families free livestock.The harvest that year was also particularly bountiful.The charity should take full credit for the observed increase in the standard of living.

A) True
B) False

Correct Answer

verifed

verified

Since 1870 Canadian and U.S real GDP per person grew from below to above that in the United Kingdom.The explanation for this is likely that productivity grew faster in Canada and the U.S.than in the United Kingdom.

A) True
B) False

Correct Answer

verifed

verified

Over the period 1870-2014,the United States experienced an average annual growth rate of real GDP per person of about 1.8 percent per year.

A) True
B) False

Correct Answer

verifed

verified

Journey Motorcycles produced 100 motorcycles using 50 workers who each worked 8 hours a day.Journey's productivity was 1/4.

A) True
B) False

Correct Answer

verifed

verified

Randomized control trials can help economists evaluate the impact of global aid programs in the same way that doctors test drugs.

A) True
B) False

Correct Answer

verifed

verified

True

Like physical capital,human capital is a produced factor of production.

A) True
B) False

Correct Answer

verifed

verified

In countries where women are discriminated against,policies that increase the likelihood of career success and educational opportunities for women are likely to decrease the birth rate.

A) True
B) False

Correct Answer

verifed

verified

Economists generally agree on the role the government should play in promoting productivity and economic growth.

A) True
B) False

Correct Answer

verifed

verified

Petroleum is an example of a nonrenewable resource.

A) True
B) False

Correct Answer

verifed

verified

The catch-up effect refers to the idea that poor countries,despite their best efforts,are not likely ever to experience the economic growth rates of wealthier countries.

A) True
B) False

Correct Answer

verifed

verified

Showing 1 - 20 of 62

Related Exams

Exam 1

Ten Principles of Economics

24 Questions

Exam 1

Ten Principles of Economics: How People Make Decisions

139 Questions

Exam 1

Ten Principles of Economics: How People Interact

103 Questions

Exam 1

Ten Principles of Economics: How the Economy As a Whole Works

73 Questions

Exam 1

Ten Principles of Economics: Part A

53 Questions

Exam 1

Ten Principles of Economics: Part B

51 Questions

Exam 2

Thinking Like an Economist

2 Questions

Exam 2

Thinking Like an Economist: The Economist As Scientist

256 Questions

Exam 2

Thinking Like an Economist: The Economist As Policy Adviser

67 Questions

Exam 2

Thinking Like an Economist: Why Economists Disagree

17 Questions

Exam 2

Thinking Like an Economist: Lets Get Going

6 Questions

Exam 2

Thinking Like an Economist: Graphing a Brief Review

68 Questions

Exam 2

Thinking Like an Economist: Part A

56 Questions

Exam 2

Thinking Like an Economist: Part B

136 Questions

Exam 3

Interdependence and the Gains From Trade

2 Questions

Exam 3

Interdependence and the Gains From Trade: A Parable for the Modern Economy

60 Questions

Exam 3

Interdependence and the Gains From Trade: Comparative Advantage the Driving Force of Specialization

141 Questions

Exam 3

Interdependence and the Gains From Trade: Applications of Comparative Advantage

20 Questions

Exam 3

Interdependence and the Gains From Trade: Conclusion

1 Questions

Exam 3

Interdependence and the Gains From Trade: Part A

40 Questions

Exam 3

Interdependence and the Gains From Trade: Part B

69 Questions

Exam 4

The Market Forces of Supply and Demand

3 Questions

Exam 4

The Market Forces of Supply and Demand:Markets and Competition

46 Questions

Exam 4

The Market Forces of Supply and Demand: Demand

150 Questions

Exam 4

The Market Forces of Supply and Demand: Supply

96 Questions

Exam 4

The Market Forces of Supply and Demand: Supply and Demand Together

158 Questions

Exam 4

The Market Forces of Supply and DemandConclusion How Prices Allocate Resources

5 Questions

Exam 4

The Market Forces of Supply and Demand: Part A

38 Questions

Exam 4

The Market Forces of Supply and Demand: Part B

108 Questions

Exam 5

Elasticity and Its Applications

6 Questions

Exam 5

Elasticity and Its Applications: The Elasticity of Demand

303 Questions

Exam 5

Elasticity and Its Applications: The Elasticity of Supply

86 Questions

Exam 5

Elasticity and Its Applications: Three Applications of Supply,demand,and Elasticity

48 Questions

Exam 5

Elasticity and Its Applications: Part A

49 Questions

Exam 5

Elasticity and Its Applications: Part B

78 Questions

Exam 6

Supply Demand and Government Policies

5 Questions

Exam 6

Supply Demand and Government Policies: Controls on Prices

215 Questions

Exam 6

Supply Demand and Government Policies: Taxes

199 Questions

Exam 6

Supply Demand and Government Policies: Part A

46 Questions

Exam 6

Supply Demand and Government Policies: Part B

166 Questions

Exam 7

Consumers Producers and the Efficiency of Markets

10 Questions

Exam 7

Consumers Producers and the Efficiency of Markets: Consumer Surplus

98 Questions

Exam 7

Consumers Producers and the Efficiency of Markets: Producer Surplus

92 Questions

Exam 7

Consumers Producers and the Efficiency of Markets: Market Efficiency

123 Questions

Exam 7

Consumers Producers and the Efficiency of Markets: Conclusion Market Efficiency and Market Failure

7 Questions

Exam 7

Consumers Producers and the Efficiency of Markets: Part A

46 Questions

Exam 7

Consumers Producers and the Efficiency of Markets: Part B

65 Questions

Exam 8

Application the Cost of Taxation

5 Questions

Exam 8

Application the Cost of Taxation: The Deadweight Loss of Taxation

247 Questions

Exam 8

Application the Cost of Taxation: The Determinants of the Deadweight Loss

61 Questions

Exam 8

Application the Cost of Taxation: Deadweight Loss and Tax Revenue As Taxes Vary

62 Questions

Exam 8

Application the Cost of Taxation: Conclusion

2 Questions

Exam 8

Application the Cost of Taxation: Part A

58 Questions

Exam 8

Application the Cost of Taxation: Part B

59 Questions

Exam 9

Application International Trade

2 Questions

Exam 9

Application International Trade: The Determinants of Trade

41 Questions

Exam 9

Application International Trade: The Winners and Losers From Trade

302 Questions

Exam 9

Application International Trade: The Arguments for Restricting Trade

40 Questions

Exam 9

Application International Trade: Conclusion

3 Questions

Exam 9

Application International Trade: Part A

53 Questions

Exam 9

Application International Trade: Part B

68 Questions

Exam 10

Measuring a Nations Income

6 Questions

Exam 10

Measuring a Nations Income: The Economy's Income and Expenditure

27 Questions

Exam 10

Measuring a Nations Income: The Measurement of GDP

117 Questions

Exam 10

Measuring a Nations Income: The Components of GDP

106 Questions

Exam 10

Measuring a Nations Income: Real Versus Nominal GDP

52 Questions

Exam 10

Measuring a Nations Income: Is GDP a Good Measure of Economic Well-Being

22 Questions

Exam 10

Measuring a Nations Income: Part A

44 Questions

Exam 10

Measuring a Nations Income: Part B

86 Questions

Exam 11

Measuring the Cost of Living

12 Questions

Exam 11

Measuring the Cost of Living: The Consumer Price Index

195 Questions

Exam 11

Measuring the Cost of Living: Correcting Economic Variables for the Effects of Inflation

124 Questions

Exam 11

Measuring the Cost of Living: Part A

39 Questions

Exam 11

Measuring the Cost of Living: Part B

83 Questions

Exam 12

Production and Growth

16 Questions

Exam 12

Production and Growth: Economic Growth Around the World

54 Questions

Exam 12

Production and Growth: Productivity Its Role and Determinants

159 Questions

Exam 12

Production and Growth: Economic Growth and Public Policy

157 Questions

Exam 12

Production and Growth: Conclusion the Importance of Long-Run Growth

2 Questions

Exam 12

Production and Growth: Part A

59 Questions

Exam 13

Saving Investment and the Financial System

8 Questions

Exam 13

Saving Investment and the Financial System: Financial Institutions in the US economy

177 Questions

Exam 13

Saving Investment and the Financial System: Saving and Investment in the National Income Accounts

98 Questions

Exam 13

Saving Investment and the Financial System: The Market for Loanable Funds

201 Questions

Exam 13

Saving Investment and the Financial System: Part A

57 Questions

Exam 13

Saving Investment and the Financial System: Part B

63 Questions

Exam 14

The Basic Tools of Finance

2 Questions

Exam 14

The Basic Tools of Finance: Present Value Measuring the Time Value of Money

213 Questions

Exam 14

The Basic Tools of Finance: Managing Risk

120 Questions

Exam 14

The Basic Tools of Finance: Asset Valuation

70 Questions

Exam 14

The Basic Tools of Finance: Conclusion

2 Questions

Exam 14

The Basic Tools of Finance: Part A

59 Questions

Exam 14

The Basic Tools of Finance: Part B

54 Questions

Exam 15

Unemployment

15 Questions

Exam 15

Unemployment: Identifying Unemployment

163 Questions

Exam 15

Unemployment: Job Search

40 Questions

Exam 15

Unemployment: Minimum-Wage Laws

39 Questions

Exam 15

Unemployment: Unions and Collective Bargaining

49 Questions

Exam 15

Unemployment: The Theory of Efficiency Wages

41 Questions

Exam 15

Unemployment: Part A

48 Questions

Exam 15

Unemployment: Part B

221 Questions

Exam 16

The Monetary System

17 Questions

Exam 16

The Monetary System: The Meaning of Money

100 Questions

Exam 16

The Monetary System: The Federal Reserve System

52 Questions

Exam 16

The Monetary System: Banks and the Money Supply

78 Questions

Exam 16

The Monetary System: The Feds Tools of Monetary Control

126 Questions

Exam 16

The Monetary System: Part A

64 Questions

Exam 16

The Monetary System: Part B

57 Questions

Exam 17

Money Growth and Inflation

22 Questions

Exam 17

Money Growth and Inflation: The Classical Theory of Inflation

245 Questions

Exam 17

Money Growth and Inflation: The Costs of Inflation

94 Questions

Exam 17

Money Growth and Inflation: Conclusion

3 Questions

Exam 17

Money Growth and Inflation: Part A

63 Questions

Exam 17

Money Growth and Inflation: Part B

60 Questions

Exam 18

Open Economy Macroeconomics Basic Concepts

2 Questions

Exam 18

Open Economy Macroeconomics Basic Concepts: The International Flows of Goods and Capital

227 Questions

Exam 18

Open Economy Macroeconomics Basic Concepts: The Prices for International Transactions Real and Nominal Exchange Rates

76 Questions

Exam 18

Open Economy Macroeconomics Basic Concepts: A First Theory of Exchange-Rate Determination Purchasing-Power Parity

87 Questions

Exam 18

Open Economy Macroeconomics Basic Concepts: Part A

67 Questions

Exam 18

Open Economy Macroeconomics Basic Concepts: Part B

63 Questions

Exam 19

A Macroeconomic Theory of the Open Economy

3 Questions

Exam 19

A Macroeconomic Theory of the Open Economy: Supply and Demand for Loanable Funds and for Foreign-Currency Exchange

141 Questions

Exam 19

A Macroeconomic Theory of the Open Economy: Equilibrium in the Open Economy

45 Questions

Exam 19

A Macroeconomic Theory of the Open Economy: How Policies and Events Affect an Open Economy

172 Questions

Exam 19

A Macroeconomic Theory of the Open Economy: Part A

47 Questions

Exam 19

A Macroeconomic Theory of the Open Economy: Part B

56 Questions

Exam 20

Aggregate Demand and Aggregate Supply

6 Questions

Exam 20

Aggregate Demand and Aggregate Supply: Three Key Facts About Economic Fluctuations

33 Questions

Exam 20

Aggregate Demand and Aggregate Supply: Explaining Short-Run Economic Fluctuations

38 Questions

Exam 20

Aggregate Demand and Aggregate Supply: The Aggregate-Demand Curve

141 Questions

Exam 20

Aggregate Demand and Aggregate Supply: The Aggregate-Supply Curve

95 Questions

Exam 20

Aggregate Demand and Aggregate Supply: Two Causes of Economic Fluctuations

117 Questions

Exam 20

Aggregate Demand and Aggregate Supply: Part A

59 Questions

Exam 20

Aggregate Demand and Aggregate Supply: Part B

61 Questions

Exam 21

The Influences of Monetary and Fiscal Policy on Aggregate Demand

5 Questions

Exam 21

The Influences of Monetary and Fiscal Policy on Aggregate Demand: How Monetary Policy Influences Aggregate Demand

198 Questions

Exam 21

The Influences of Monetary and Fiscal Policy on Aggregate Demand: How Fiscal Policy Influences Aggregate Demand

123 Questions

Exam 21

The Influences of Monetary and Fiscal Policy on Aggregate Demand: Using Policy to Stabilize the Economy

73 Questions

Exam 21

The Influences of Monetary and Fiscal Policy on Aggregate Demand: Part A

60 Questions

Exam 21

The Influences of Monetary and Fiscal Policy on Aggregate Demand: Part B

50 Questions

Exam 22

The Short Run Trade Off Between Inflation and Unemployment

11 Questions

Exam 22

The Short Run Trade Off Between Inflation and Unemployment: The Phillips Curve

86 Questions

Exam 22

The Short Run Trade Off Between Inflation and Unemployment: Shifts in the Phillips Curve the Role of Expectations

161 Questions

Exam 22

The Short Run Trade Off Between Inflation and Unemployment: Shifts in the Phillips Curve the Role of Supply Shocks

60 Questions

Exam 22

The Short Run Trade Off Between Inflation and Unemployment: The Cost of Reducing Inflation

87 Questions

Exam 22

The Short Run Trade Off Between Inflation and Unemployment: Part A

62 Questions

Exam 22

The Short Run Trade Off Between Inflation and Unemployment: Part B

52 Questions

Exam 23

Six Debates Over Macroeconomic Policy: Should Monetary and Fiscal Policymakers Try to Stabilize the Economy

44 Questions

Exam 23

Six Debates Over Macroeconomic Policy: Should the Government Fight Recessions With Spending Hikes Rather Than Tax Cuts

15 Questions

Exam 23

Six Debates Over Macroeconomic Policy: Should Monetary Policy Be Made by Rule Rather Than by Discretion

37 Questions

Exam 23

Six Debates Over Macroeconomic Policy: Should the Central Bank Aim for Zero Inflation

49 Questions

Exam 23

Six Debates Over Macroeconomic Policy: Should the Government Balance Its Budget

38 Questions

Exam 23

Six Debates Over Macroeconomic Policy: Should the Tax Laws Be Reformed to Encourage Saving

44 Questions

Exam 23

Six Debates Over Macroeconomic Policy: Conclusion

1 Questions

Exam 23

Six Debates Over Macroeconomic Policy: Part A

68 Questions

Exam 23

Six Debates Over Macroeconomic Policy: Part B

39 Questions

Exam 24

A-Financial-Overview-Of-The-US

104 Questions

Show Answer