Macro Ch8 Online Questions

Macro Ch8 Online Questions - Chapter 8 Review Questions 1....

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Chapter 8 Review Questions 1. How do we calculate the average standard of living? Why should economic policy makers be concerned about economic growth? 2. Discuss the three major ways a country can increase its equilibrium level of output. 3. Why can population growth be a mixed blessing in terms of economic growth? 4. Explain how a tax cut could lead to slower economic growth. 5. If a country’s PPF is shifting outward, is it necessarily the case that the country’s standard of living is rising? Why or why not? 6. Why did Malthus’s dire prediction fail to materialize? Do you think it could still come true? Explain your reasoning. 7. “Faster economic growth can benefit everyone and need not harm anyone. That is, there is no policy trade-off when it comes to economic growth.” True or false? Explain. 8. Explain the following statement: “In some LDCs, it can be said that a significant cause of continued poverty is poverty itself.” 9. Compare the effects on the real wage rate and output from an increase in labor demand and an
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This note was uploaded on 11/07/2010 for the course ECON 0001 taught by Professor Kitsikopoulos during the Spring '08 term at NYU.

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Macro Ch8 Online Questions - Chapter 8 Review Questions 1....

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