Question 1

What does labour productivity depend on?

Accepted Answer

A)  the quality of the labour 
B)  unstable government 
C)  the proportion of the labour force that is unionized 
D)  the size of the economy 
A)  the quality of the labour 
B)  unstable government 
C)  the proportion of the labour force that is unionized 
D)  the size of the economy A

Question 2

What is the yardstick most often used to compare living standards across nations?

Accepted Answer

A)  average production cost per unit 
B)  sales revenue per month 
C)  output per capita 
D)  imports per year 
A)  average production cost per unit 
B)  sales revenue per month 
C)  output per capita 
D)  imports per year C

Question 3

Which of the following types of economies has the lowest malnutrition rate among children less than 5 years of age?

Accepted Answer

A)  middle-income economies 
B)  low-income economies 
C)  high-income economies 
D)  sub-Saharan African economies 
A)  middle-income economies 
B)  low-income economies 
C)  high-income economies 
D)  sub-Saharan African economies C

Question 4

Suppose the country of Deficitland is experiencing trade deficits.Which of the following imports is Deficitland more likely to cut?

Accepted Answer

A)  beef 
B)  cocoa 
C)  coffee 
D)  capital goods 
A)  beef 
B)  cocoa 
C)  coffee 
D)  capital goods

Question 5

Which of the following is a requirement for development?

Accepted Answer

A)  an unreliable system of financial institutions 
B)  a lack of saving by households and firms 
C)  low confidence in domestic currency 
D)  low and predictable inflation that encourages saving 
A)  an unreliable system of financial institutions 
B)  a lack of saving by households and firms 
C)  low confidence in domestic currency 
D)  low and predictable inflation that encourages saving

Question 6

Which of the following best describes a reason why a country may be trapped in poverty?

Accepted Answer

A)  The country lacks mineral wealth. 
B)  The country has an honest and functional government. 
C)  The country has laws and regulations to help detect fiscal fraud. 
D)  The country has experienced a civil war. 
A)  The country lacks mineral wealth. 
B)  The country has an honest and functional government. 
C)  The country has laws and regulations to help detect fiscal fraud. 
D)  The country has experienced a civil war.

Question 7

Which of the following is NOT an example of foreign aid?

Accepted Answer

A)  when Canadian discount department stores purchase toys from Chinese manufacturers 
B)  when the International Monetary Fund extends loans to countries that are having trouble with their balance of payments 
C)  when the World Bank provides loans and grants to support health and education programs 
D)  when the Canadian government pays to build an electricity plant in Albania 
A)  when Canadian discount department stores purchase toys from Chinese manufacturers 
B)  when the International Monetary Fund extends loans to countries that are having trouble with their balance of payments 
C)  when the World Bank provides loans and grants to support health and education programs 
D)  when the Canadian government pays to build an electricity plant in Albania

Question 8

Which of the following does NOT characterize migration patterns?

Accepted Answer

A)  Migration plays an important role in the economies of developing countries. 
B)  A major source of foreign exchange in some countries is the money sent home by migrants. 
C)  Migration provides a valuable safety valve for poor countries. 
D)  The best and brightest professionals are very unlikely to migrate to developed countries. 
A)  Migration plays an important role in the economies of developing countries. 
B)  A major source of foreign exchange in some countries is the money sent home by migrants. 
C)  Migration provides a valuable safety valve for poor countries. 
D)  The best and brightest professionals are very unlikely to migrate to developed countries.

Question 9

Eddie is a skilled worker employed in a low-skill job.Which of the following terms can be used to describe him?

Accepted Answer

A)  underemployed 
B)  unemployed 
C)  overemployed 
D)  fully employed 
A)  underemployed 
B)  unemployed 
C)  overemployed 
D)  fully employed

Question 10

Which of the following describes what is included in Canada's gross national income (GNI)?

Accepted Answer

A)  It measures the market value of all final goods and services produced by Canadians anywhere in the world over a 1-year period. 
B)  It excludes profits earned by Bombardier Inc. in India. 
C)  It measures the market value of all final goods and services produced in Canada's economy by resources supplied by Canada's residents and firms, regardless of the location of the resource, over a 1-year period. 
D)  It excludes earnings earned by expatriate workers. 
A)  It measures the market value of all final goods and services produced by Canadians anywhere in the world over a 1-year period. 
B)  It excludes profits earned by Bombardier Inc. in India. 
C)  It measures the market value of all final goods and services produced in Canada's economy by resources supplied by Canada's residents and firms, regardless of the location of the resource, over a 1-year period. 
D)  It excludes earnings earned by expatriate workers.

Question 11

What is the value added per farm worker in Canada compared to the value added per farm worker in low-income and middle-income countries?

Accepted Answer

A)  five times greater in Canada 
B)  ten times greater in Canada 
C)  seventy-five times greater in Canada 
D)  500 times greater in Canada 
A)  five times greater in Canada 
B)  ten times greater in Canada 
C)  seventy-five times greater in Canada 
D)  500 times greater in Canada

Question 12

Which of the following groups has the highest infant mortality rate?

Accepted Answer

A)  middle-income economies 
B)  low-income economies 
C)  high-income economies 
D)  Western European economies 
A)  middle-income economies 
B)  low-income economies 
C)  high-income economies 
D)  Western European economies

Question 13

Which of the following best describes social capital?

Accepted Answer

A)  the shared values and trust that promote cooperation in the economy 
B)  the buildings and equipment used to produce goods and services 
C)  a government regulation aimed at improving health and safety 
D)  the accumulated knowledge, skill, and experience of the labour force 
A)  the shared values and trust that promote cooperation in the economy 
B)  the buildings and equipment used to produce goods and services 
C)  a government regulation aimed at improving health and safety 
D)  the accumulated knowledge, skill, and experience of the labour force

Question 14

Which of the following is NOT an example of rules of the game?

Accepted Answer

A)  formal procedures for behaviour 
B)  government takeover of private corporations 
C)  traditions 
D)  informal constraints on behaviour 
A)  formal procedures for behaviour 
B)  government takeover of private corporations 
C)  traditions 
D)  informal constraints on behaviour

Question 15

Which of the following resources is necessary to efficiently combine the other resources in order to produce goods and services?

Accepted Answer

A)  natural resources 
B)  capital 
C)  labour 
D)  entrepreneurial ability 
A)  natural resources 
B)  capital 
C)  labour 
D)  entrepreneurial ability

Question 16

A World Bank study of economics in Africa suggests a strong link exists between governments that cater to special-interest groups and a particular rate of economic growth.What is the rate of growth involved in the link identified in the World Bank study?

Accepted Answer

A)  high 
B)  moderate 
C)  low 
D)  average 
A)  high 
B)  moderate 
C)  low 
D)  average

Question 17

Compared to industrial market countries, what do developing countries usually have?

Accepted Answer

A)  exports consisting mostly of agricultural products and raw materials 
B)  slow population growth 
C)  low unemployment 
D)  higher rates of literacy 
A)  exports consisting mostly of agricultural products and raw materials 
B)  slow population growth 
C)  low unemployment 
D)  higher rates of literacy

Question 18

How many countries in the world have failed to come up with the rules of the game that lead to sustained economic growth?

Accepted Answer

A)  none 
B)  one 
C)  half 
D)  most 
A)  none 
B)  one 
C)  half 
D)  most

Question 19

Which of the following is the worst possible economic strategy to help promote economic growth?

Accepted Answer

A)  poorly defined property rights 
B)  less social capital 
C)  civil war 
D)  privatization 
A)  poorly defined property rights 
B)  less social capital 
C)  civil war 
D)  privatization

Question 20

Which of the following creates an obstacle to pursuing freer international trade?

Accepted Answer

A)  when consumers do NOT recognize their potential gains 
B)  when losses are widespread 
C)  when domestic producers do NOT recognize their potential losses 
D)  when government has plenty of political will and support to remove trade barriers 
A)  when consumers do NOT recognize their potential gains 
B)  when losses are widespread 
C)  when domestic producers do NOT recognize their potential losses 
D)  when government has plenty of political will and support to remove trade barriers

What does labour productivity depend on?

What is the yardstick most often used to compare living standards across nations?

Which of the following types of economies has the lowest malnutrition rate among children less than 5 years of age?

Suppose the country of Deficitland is experiencing trade deficits.Which of the following imports is Deficitland more likely to cut?

Which of the following is a requirement for development?

Which of the following best describes a reason why a country may be trapped in poverty?

Which of the following is NOT an example of foreign aid?

Which of the following does NOT characterize migration patterns?

Eddie is a skilled worker employed in a low-skill job.Which of the following terms can be used to describe him?

Which of the following describes what is included in Canada's gross national income (GNI)?

What is the value added per farm worker in Canada compared to the value added per farm worker in low-income and middle-income countries?

Which of the following groups has the highest infant mortality rate?

Which of the following best describes social capital?

Which of the following is NOT an example of rules of the game?

Which of the following resources is necessary to efficiently combine the other resources in order to produce goods and services?

A World Bank study of economics in Africa suggests a strong link exists between governments that cater to special-interest groups and a particular rate of economic growth.What is the rate of growth involved in the link identified in the World Bank study?

Compared to industrial market countries, what do developing countries usually have?

How many countries in the world have failed to come up with the rules of the game that lead to sustained economic growth?

Which of the following is the worst possible economic strategy to help promote economic growth?

Which of the following creates an obstacle to pursuing freer international trade?

The Art and Science of Economic Analysis

Economic Tools and Economic Systems

Economic Decision Makers

Demand, Supply, and Markets

Algebraic Approach to Demand, Supply, and Equilibrium

Introduction to Macroeconomics

Tracking the Canadian Economy

Unemployment and Inflation

Productivity and Growth

Aggregate Expenditure and Aggregate Demand

Aggregate Supply

Fiscal Policy

Money and the Financial System

Banking and the Money Supply

Monetary Theory and Policy in an Open Economy

Macro Policy Debate: Active or Passive

International Finance

International Trade

Understanding Graphs

Filters

Exam 19: Economic Development

What does labour productivity depend on?

What is the yardstick most often used to compare living standards across nations?

Which of the following types of economies has the lowest malnutrition rate among children less than 5 years of age?

Suppose the country of Deficitland is experiencing trade deficits.Which of the following imports is Deficitland more likely to cut?

Which of the following is a requirement for development?

Which of the following best describes a reason why a country may be trapped in poverty?

Which of the following is NOT an example of foreign aid?

Which of the following does NOT characterize migration patterns?

Eddie is a skilled worker employed in a low-skill job.Which of the following terms can be used to describe him?

Which of the following describes what is included in Canada's gross national income (GNI)?

What is the value added per farm worker in Canada compared to the value added per farm worker in low-income and middle-income countries?

Which of the following groups has the highest infant mortality rate?

Which of the following best describes social capital?

Which of the following is NOT an example of rules of the game?

Which of the following resources is necessary to efficiently combine the other resources in order to produce goods and services?

A World Bank study of economics in Africa suggests a strong link exists between governments that cater to special-interest groups and a particular rate of economic growth.What is the rate of growth involved in the link identified in the World Bank study?

Compared to industrial market countries, what do developing countries usually have?

How many countries in the world have failed to come up with the rules of the game that lead to sustained economic growth?

Which of the following is the worst possible economic strategy to help promote economic growth?

Which of the following creates an obstacle to pursuing freer international trade?

The Art and Science of Economic Analysis

Economic Tools and Economic Systems

Economic Decision Makers

Demand, Supply, and Markets

Algebraic Approach to Demand, Supply, and Equilibrium

Introduction to Macroeconomics

Tracking the Canadian Economy

Unemployment and Inflation

Productivity and Growth

Aggregate Expenditure and Aggregate Demand

Aggregate Supply

Fiscal Policy

Money and the Financial System

Banking and the Money Supply

Monetary Theory and Policy in an Open Economy

Macro Policy Debate: Active or Passive

International Finance

International Trade

Understanding Graphs

Filters