{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

PDF-Ch 16 & 17 - (I Countries with less economic...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
1 (I) Countries with less economic freedom during the 1980s and 1990s had a lower average per capita GDP . (II) Countries with more economic freedom during the 1980s and 1990s achieved higher rates of economic growth . 1 Both I and II are true 1. Both I and II are true. 2. Both I and II are false. 3. I is true; II is false. 4. I is false; II is true. Which of the following is true? 1. Nations achieve high rates of economic growth primarily because of their natural resource endowments. 2. Human and physical capital investments are the most important factors that determine economic growth growth. 3. Poor nations grow slowly because they do not have access to modern technology. 4. A favorable institutional environment will tend to attract more investment in human and physical capital, increasing economic growth potential. France is experiencing massive social unrest as laborers all over the country strike in protest of a proposed increase in the mandatory retirement age from 60 to 62. Recently, tankers delivering petroleum were halted and unable to proceed to gas stations needing replenishment of depleted gasoline reserves. As a result, anything that depends on gasoline in the production process is being disrupted The gasoline in the production process is being disrupted. The FAA of France recently announced that planes flying in should expect difficulties refueling. Lady Gaga recently cancelled two concerts citing the gas shortages as the reason. As a result, what would you expect to happen to the market P & Q of EVERYTHING in France? Since the 1920s, more people live in cities than in rural areas…there is now a stigma of gun ownership…(in 1950s nearly every HS in NY state had a shooting team and kids frequently took their guns on the bus for this after school activity). As a result, fewer and fewer children are growing up fewer and fewer children are growing up learning how to shoot a gun. From the above, as our population ages, what would you expect to happen to the market price and quantity of sport hunting trips to places like Africa & South America? Since the 1920s, more people live in cities than in rural areas…there is now a stigma of gun ownership…(in 1950s nearly every HS in NY state had a shooting team and kids frequently took their guns on the bus for this after school activity). As a result, fewer and fewer children are growing up fewer and fewer children are growing up learning how to shoot a gun. From the above, as our population ages, what would you expect to happen to the market price and quantity of sport price and quantity of sport PHOTOGRAPHY PHOTOGRAPHY trips to places like Africa & South America?
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
2 Chapter 16 & 17 -- Economic Growth and the wealth of nations Learning Objectives To understand the To understand the relationship between o/p and Y relationship between o/p and Y (which causes which?) To identify To identify general factors that determine economic general factors that determine economic To To apply the factors of growth apply the factors of growth to economies
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern