chapter 25 quiz

chapter 25 quiz - 1. As of 1998, living standards in the...

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1. As of 1998, living standards in the United States were nearly ______ times higher than those in Africa. A) 3 B) 8 C) 14 D) 20 2. From 1960 to 2004: A) Follower countries such as Ireland, Singapore, and Hong Kong caught up to and surpassed leader countries such as France and the United Kingdom. B) Leader country growth rates were about double those of follower countries. C) Japan's rapid growth pushed its real GDP per capita above that of the United States. D) Growth rates in follower nations such as South Korea and Hong Kong averaged about 10 percent per year. 3. Real GDP per capita: A) cannot grow more rapidly than real GDP. B) cannot grow more slowly than real GDP. C) necessarily grows more rapidly than real GDP. D) can grow either more slowly or more rapidly than real GDP. 4. If the secular trend of labor productivity rises from 2 percent per year to 4 percent, the number of years that it will take for the standard of living to double will decline by about: A) 5 years. B) 10 years.
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This note was uploaded on 02/10/2010 for the course ECON 201 taught by Professor Smith during the Spring '10 term at Bowling Green.

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chapter 25 quiz - 1. As of 1998, living standards in the...

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