Ideas for Test Review with Respect to T3, November 2016
[Content Coverage: Ch. 25-27 plus Ch. 29]
Ch. 25: Economic Growth
1, Define and calculate economic growth.
2. Distinguish growth of the RGDP from the growth of per capita RGDP. If one is interested i
Practice /Discussion Material in Prep for T2. The material below represents some
(just some) of the concepts we explored. You are allowed a formula card with only
five formulas. No notes or definitions on the card.
What follows requires you to either fill
1. Cam can produce 400 sandwiches or 800 cookies per hour. Meanwhile, Mitchell can
produce 200 sandwiches or 100 cookies per hour. If Cam and Mitchell trade with each
other, Mitchell will produce and export _.
1. Big Mac set is priced at $10 in NYC, and the same Big Mac Sells at 7.67. If
purchasing power parity holds, what would be exchange rate between British
Pound () and U.S. dollar?
2. Of the following items, some affe