# Table south koreas real gdp per capita look at the

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Chapter 09(24)- Long-Run Economic Growth

13 .   Economists use real GDP per capita to measure economic growth :
A ) because it ignores the effect of price changes .
B ) because poor nations have a large population and the population of richer nations is declining .
C ) because it is the inflation - adjusted value of a country 's production of goods and services corrected for the change in a country 's population .
D ) even though nominal GNP per capita is a far superior measure of economic growth .
Answer:  C )   because it is the inflation - adjusted value of a country 's production of goods and services corrected for the change in a country 's population .
14 .   Table : South Korea 's Real GDP per Capita Look at the table South Korea 's Real GDP per Capita . As a percentage of real GDP per capita in 1960 , approximately how much did South Korea produce in 2000 ?
15 .   ( Table : South Korea 's Real GDP per Capita ) Look at the table South Korea 's Real GDP per Capita . As a percentage of real GDP per capita in 2000 , approximately how much did South Korea produce in 1960 ?
16 .   China has much higher rate of growth than the United States , but the average Chinese household is _____ a typical U.S. household . China 's real GDP per capita is ___ __ that of the United States .
17.   U.S. real GDP per capita in 2010 was _____ as much per person as in 1900 .
A ) 16 %
B ) 129 %
C ) 46 %
D ) 758 %
18 .   Suppose a panel of economists predicts that a nation 's real GDP per capita will double in approximately 20 years . According to the rule of 70 , what must be the predicted annual growth rate of real GDP per capita ?
19 .   Suppose a panel of economists predicts that a nation 's real GDP per capita will have an average annual growth rate of 2 % . According to the rule of 70 , how many years will it take for this nation 's real GDP per capita to double ?
20 .   The rule of 70 indicates that a 6 % annual increase in the level of real GDP would lead to the output doubling in approximately _____ years .
21 .   The rule of 70 states that a variable 's approximate doubling time equals :
A ) 70 times the growth rate .
B ) the growth rate divided by 70 .
C ) 70 divided by the doubling time .
D ) 70 divided by the growth rate .
Answer:  C )   70 divided by the growth rate .
22 .   The formula for the rule of 70 , where n is number of years and r is growth rate , is expressed as :
23 .   The rule of 70 is most useful in :
24 .   If real GDP grows at an annual rate of 1 % , it will double in approximately _____ years .
25 .   If real GDP grows at an average rate of 3 % per year , it will double in approximately _____ years .
A ) less than 10
B ) 20
C ) 23
D ) 36
26 .   If real GDP doubles in 35 years , it s average annual growth rate is approximately :
27 .   If real GDP doubles in 12 years , it s average annual growth rate is approximately :
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Chapter 20 / Exercise 4
Exploring Economics
Sexton
Expert Verified
14.(Table: South Korea's Real GDP per Capita) Look at the table South Korea's Real GDP per Capita. As a percentage of real GDP per capita in 1960, approximately how much did South Korea produce in 2000? A) 10% B) 15% C) 151% D) 1,011%
15.(Table: South Korea's Real GDP per Capita) Look at the table South Korea's Real GDP per Capita. As a percentage of real GDP per capita in 2000, approximately how much did South Korea produce in 1960?
16.China has much higher rate of growth than the United States, but the average Chinese household is _____ a typical U.S. household. China's real GDP per capita is _____ that of the United States.
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##### We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
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Chapter 20 / Exercise 4
Exploring Economics
Sexton
Expert Verified
17.U.S. real GDP per capita in 2010 was _____ as much per person as in 1900.
18.Suppose a panel of economists predicts that a nation's real GDP per capita will double in approximately 20 years. According to the rule of 70, what must be the predicted annual growth rate of real GDP per capita? A) 140% B) 3.5% C) 2.85% D) 14%
19.Suppose a panel of economists predicts that a nation's real GDP per capita will have an average annual growth rate of 2%. According to the rule of 70, how many years will it take for this nation's real GDP per capita to double?
20.The rule of 70 indicates that a 6% annual increase in the level of real GDP would lead to the output doubling in approximately _____ years.
21.The rule of 70 states that a variable's approximate doubling time equals:
22.The formula for the rule of 70, where n is number of years and r is growth rate, is expressed as: A) n × 70 = r B) n / r = 70. C) r / n = 70. .
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D) n × r = 70. 23.The rule of 70 is most useful in:
24.If real GDP grows at an annual rate of 1%, it will double in approximately _____ years.
25.If real GDP grows at an average rate of 3% per year, it will double in approximately _____ years.
26.If real GDP doubles in 35 years, its average annual growth rate is approximately: A) 1%. B) 2%. C) 3%. D) 4%.