chapter 25 - Chapter 25 Production and Growth TRUE/FALSE 1....

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Unformatted text preview: Chapter 25 Production and Growth TRUE/FALSE 1. If per capita real income grows by 2 percent per year, then it will double in approximately 20 years. ANS: F DIF: 1 REF: 25-0 NAT: Analytic LOC: Productivity and growthTOP: Economic growth MSC: Definitional 2. Over the period 1870-2006, the United States experienced an average annual growth rate of real GDP per person of about 4 percent per year. ANS: F DIF: 1 REF: 25-1 NAT: Analytic LOC: Productivity and growthTOP: Economic growth MSC: Definitional 3. In 2006, income per person in the United States was about 12 times that in India. ANS: T DIF: 1 REF: 25-1 NAT: Analytic LOC: Productivity and growthTOP: Economic growth MSC: Definitional 4. Over the period 1900-2006, Brazils rate of economic growth exceeded that of China. ANS: T DIF: 2 REF: 25-1 NAT: Analytic LOC: Productivity and growthTOP: Economic growth MSC: Definitional 5. If a country has a higher level of productivity than another, then it also has a higher level of real GDP. ANS: F DIF: 2 REF: 25-1 NAT: Analytic LOC: Productivity and growthTOP: Productivity MSC: Analytical 6. International data on real GDP per person give us a sense of how standards of living vary across countries. ANS: T DIF: 1 REF: 25-1 NAT: Analytic LOC: Productivity and growthTOP: Real GDP MSC: Definitional 7. Real GDP per person in rich countries, such as Germany, is sometimes more than 10 times that of poor countries like Pakistan. ANS: T DIF: 1 REF: 25-1 NAT: Analytic LOC: Productivity and growthTOP: Standard of living MSC: Definitional 8. Both the standard of living and the growth of real GDP per person vary widely across countries. ANS: T DIF: 1 REF: 25-1 NAT: Analytic LOC: Productivity and growth TOP: Standard of living | Real GDP MSC: Definitional 9. If they could increase their growth rates slightly, countries with low income would catch up with rich countries in about ten years. ANS: F DIF: 1 REF: 25-1 NAT: Analytic LOC: Productivity and growth TOP: Economic growth | Catch-up effect MSC: Interpretive 10. In the United States real GDP per person is about $44,000, while in some poor countries real GDP per person is less than $3,000. ANS: T DIF: 1 REF: 25-1 NAT: Analytic LOC: Productivity and growthTOP: Economic growth MSC: Definitional 147 148 Chapter 25 /Production and Growth 11. Although growth rates across countries vary some, rankings of countries by income remain pretty much the same over time. ANS: F DIF: 1 REF: 25-1 NAT: Analytic LOC: Productivity and growthTOP: Economic growth MSC: Definitional 12. International data on the history of real GDP growth rates shows that over the last 100 years or so, rich countries got richer and poor countries got poorer. ANS: F DIF: 1 REF: 25-1 NAT: Analytic LOC: Productivity and growthTOP: Economic growth MSC: Definitional 13. Productivity can be computed as number of hours worked divided by output....
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This note was uploaded on 02/16/2012 for the course EDU 112 taught by Professor Adasd during the Spring '12 term at Alabama A&M University.

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chapter 25 - Chapter 25 Production and Growth TRUE/FALSE 1....

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