Macro_Chapter_17_study_guide_questions_13e - Macro Chapter...

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Macro Chapter 17 study guide questions Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 1. To compare income across countries in a common currency, economists generally prefer to use the a. purchasing power parity (PPP) method. b. production possibilities frontier (PPF) method. c. common currency converter (CCC) method. d. exchange rate conversion (ERC) method. ____ 2. The purchasing power parity method of comparing income across countries is based on a. the exchange rate for each country's currency. b. the cost of purchasing a specific bundle of goods and services in each country. c. the size of government in each country as a percent of GDP. d. none of the above. ____ 3. Which of the following is true regarding the growth record of LDCs over the past 25 years? a. All have been growing rapidly. b. All have experienced negative growth rates. c. Some are among the highest growth countries, whereas others are among the lowest. d. None of the above. ____ 4. A country that organizes economic activity in a manner consistent with personal choice, voluntary exchange coordinated by markets, freedom to enter and compete in markets, and protection of persons and their property from aggression by others is said to have a high degree of a. central planning. b. government regulation.
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This document was uploaded on 11/01/2011 for the course ECO ECO2013 at FSU.

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Macro_Chapter_17_study_guide_questions_13e - Macro Chapter...

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