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If the population of a nation expands at a faster rate than its rate of growth of real output, then O real output per capita would decrease O real output per capita would increase O there will be an upward movement along the production possibilities curve of the nation O there will be a downward movement along the production possibilities curve of the nation o the production possibilities curve of the nation will shift inward
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Identify the correct statement. a. Neither the initial development process nor the sustained growth of an economy is dependent on a large natural resource base. b. An increase in labor input necessarily increases output per capita. c. Economic growth is usually measured by the annual percent change in the nominal output of goods and services per capita. d. Improvements in and greater stocks of land, labor, capital, and entrepreneurial activity shift the production possibilities curve inward. Oe. According to the...
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As per one of the ten principles of economics, a country’s
standard of living depends on its
a.
ability to produce goods and services.
b.
quantity of physical capital.
c.
ability to thrive economically without having to interact with
other countries.
d.
abundance of natural resources.
Refer to the information below for the economy of Greenland:
Real GDP per person in 2018 = $7,250
Real GDP per Person in 2017 = $7,050
By what percentage the real GDP per person...
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I need some confirmation on how I scored on an AP Macroeconomics
Assignment. If I get something wrong, could you please tell me what
the correct answer is, as well as why? Thanks!
1) Sources of economic growth would include an increase in:
consumer spending. GDP. worker education. government spending.
financial investment.
(I put worker education)
2) Suppose real GDP per capita in Canada is $25,000 and its
annual growth rate is 7%. Real GDP per capita for Canada will...
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33. The "Catch-Up effect" refers to: a. a situation where poor countries will never grow faster than rich countries because they can never "catch up" in terms of economic production. b. when an economy is sitting in a trough, economic activity will eventually increase and an increase in productivity will result. c. the difference between real GDP and nominal GDP. d. a situation where poor countries tend to grow more rapidly than rich countries. e. when an economy just starts...
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1) Which of the following is an example of a measure of labor productivity?a. Autos get 30 gallons to the mile.b. The growth rate of per capita real GDP is 3.5 percent per year.c. Farm workers produce 30 bushels of wheat per worker per day.d. Wages increase by 3.5 percent per year for 5 years.2) Labor productivity increases whena. the unemployment rate decreases.b. the average output produced per worker during a specified time period decreases.c. the average number of hours...
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Question 21 (1 point) Recently, the Chinese government has acknowledged that its GDP growth rate for 2015 will fall to 7%, which is substantially below China's recent annual growth rates, including that for 2014 (Wall Street Journal, March 5, 2015). Over the past several decades, China has invested heavily in capital, increasing its capital stock. However, its economic system provides entrepreneurs little incentive to work to develop new technologies. What is the effect of the Chinese government doubling its spending...
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20. If inflation rises unexpectedly by 8%, indicate for each of the following whether the economic actor is helped, hurt, or unaffected: a. A department store that often has large amounts of cash on hand b. c. Are A person buying a home with an ARM A retired person living on a fixed pension A state government borrowing money at a fixed interest rate to build a highway d. An increase in the stock of capital: 1) has no effect...
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Problem2 Consider the following table displaying annual growth rates for nations A, B, and C, each of which entered 2015 with real per capita GDP equal to S18,000 (see pages 190-192.) Annual Growth Rate Country 2015 2016 2017 2018 956 3% 5% 8% 796 8% 10% 13% С 9%896 796 596 a. Which nation most likely experienced a sizable earthquake in late 2015 that destroyed a significant portion of its stock of capital goods, but was followed by speedy investments...
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knewton.com yestin hgrowth perore the industrian Revoltioity Which of the following applies to economic growth? 1. Economic growth allows people to buy more goods and services. 2. Economic growth is the expansion of the economy's production possibilities. 3. Economic growth is represented by a movement from a point inside the production possibilities curve to a point on the curve. Select the correct answer below: O 1, 2, and 3 0 1 and 2 only 0 1 and 3 only O...
If the population of a nation expands at a faster rate than its rate of growth of real output, then O real output per capita would decrease O real output per capita would increase O there will be an upward movement along the production possibilities curve of the nation O there will be a downward movement along the production possibilities curve of the nation o the production possibilities curve of the nation will shift inward
Identify the correct statement. a. Neither the initial development process nor the sustained growth of an economy is dependent on a large natural resource base. b. An increase in labor input necessarily increases output per capita. c. Economic growth is usually measured by the annual percent change in the nominal output of goods and services per capita. d. Improvements in and greater stocks of land, labor, capital, and entrepreneurial activity shift the production possibilities curve inward. Oe. According to the...
33. The "Catch-Up effect" refers to: a. a situation where poor countries will never grow faster than rich countries because they can never "catch up" in terms of economic production. b. when an economy is sitting in a trough, economic activity will eventually increase and an increase in productivity will result. c. the difference between real GDP and nominal GDP. d. a situation where poor countries tend to grow more rapidly than rich countries. e. when an economy just starts...
Question 21 (1 point) Recently, the Chinese government has acknowledged that its GDP growth rate for 2015 will fall to 7%, which is substantially below China's recent annual growth rates, including that for 2014 (Wall Street Journal, March 5, 2015). Over the past several decades, China has invested heavily in capital, increasing its capital stock. However, its economic system provides entrepreneurs little incentive to work to develop new technologies. What is the effect of the Chinese government doubling its spending...
20. If inflation rises unexpectedly by 8%, indicate for each of the following whether the economic actor is helped, hurt, or unaffected: a. A department store that often has large amounts of cash on hand b. c. Are A person buying a home with an ARM A retired person living on a fixed pension A state government borrowing money at a fixed interest rate to build a highway d. An increase in the stock of capital: 1) has no effect...
Problem2 Consider the following table displaying annual growth rates for nations A, B, and C, each of which entered 2015 with real per capita GDP equal to S18,000 (see pages 190-192.) Annual Growth Rate Country 2015 2016 2017 2018 956 3% 5% 8% 796 8% 10% 13% С 9%896 796 596 a. Which nation most likely experienced a sizable earthquake in late 2015 that destroyed a significant portion of its stock of capital goods, but was followed by speedy investments...
knewton.com yestin hgrowth perore the industrian Revoltioity Which of the following applies to economic growth? 1. Economic growth allows people to buy more goods and services. 2. Economic growth is the expansion of the economy's production possibilities. 3. Economic growth is represented by a movement from a point inside the production possibilities curve to a point on the curve. Select the correct answer below: O 1, 2, and 3 0 1 and 2 only 0 1 and 3 only O...