Quiz_210 - 14 , bespending A B C moretimein

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14) Economist Robert Fogel has estimated that by the year 2040, individuals in the United States will be spending A) less time in the workforce and more time in leisure activities than they do today. B) more time in the workforce and less time in leisure activities than they do today. C) more time in the workforce and more time in leisure activities than they do today. D) less time in the workforce and less time in leisure activities than they do today. 14) Answer: A Diff: 1 Page Ref: 680 - 681/274 - 275 Topic: Long - Run Economic Growth Learning Outcome: Macro 1: Define macroeconomics and identify its basic concerns AACSB: 15) If real GDP grows by 3% in 2009, 3.2% in 2010, and 2.5% in 2011, what is the average annual growth rate of real GDP? 15) Diff: 2 Page Ref: 681/275 Topic: Calculating Growth Rates Learning Outcome: Macro 1: Define macroeconomics and identify its basic concerns AACSB: Analytic Skills 16) Countries with high rates of economic growth tend to have 16) Diff: 1 Page Ref: 682/276 Topic: Labor Productivity Learning Outcome: Macro 1: Define macroeconomics and identify its basic concerns AACSB: Reflective Thinking 17) According to the ʺ Rule of 70 ʺ , how many years will it take for real GDP per capita to double when the growth rate of real GDP per capita is 5%? 17) Diff: 2 Page Ref: 682/276 Topic: The Rule of 70 Learning Outcome: Macro 1: Define macroeconomics and identify its basic concerns AACSB: Analytic Skills
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  • Spring '11
  • Lee
  • Economics, AACSB, Page Ref

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