EC102_-_Ch_7_Productivity_and_Growth_Que

# EC102_-_Ch_7_Productivity_and_Growth_Que - her According to...

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3937e1fe7bba25ddf3b17a7713aa5a12a24bac62.doc 1 1. Use the data in Table 1 to find out the growth of income per person between the two years  listed. Table 1 Year Real GDP (1996 prices) Population 1982 \$4,915,600 million 233 million 2000 \$9,243,800 million 283.5 million 2. Why is productivity related to the standard of living? In your answer be sure to explain what  productivity and the standard of living mean. Make a list of things that determine labour  productivity. 3. What is the difference between human capital and technology? 4. In 2002 real GDP per person in Olympus was 4,500.  In 2001 it was 4,250.  What was the  growth rate of real GDP per person? 5. Twenty years ago, Dr. Montgomery borrowed money from her parents to pay her tuition at  graduate school.  Now she wants to pay them back. She gives them double what they gave

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Unformatted text preview: her. According to the Rule of 70, what interest rate would have given her parents the same amount of money if they had put it in the bank rather than lending it to their daughter? a) 3.5 percent b) 4.5 percent c) 5 percent d) 7 percent 6. Fourteen years ago Alfred put money in his account at First National Bank. Alfred decides to cash in his account and is told that his money has quadrupled. What rate of interest did Alfred earn? a) 5 percent b) 7 percent 3937e1fe7bba25ddf3b17a7713aa5a12a24bac62.doc 2 c) 10 percent d) 14 percent 7. Go to the Statistics Canada website: http://www.statcan.gc.ca/start-debut-eng.html Determine the monthly GDP growth....
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EC102_-_Ch_7_Productivity_and_Growth_Que - her According to...

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