Deck 25: 1: Sec 251 Mc Economic Growth Around the World

Question 1

Which of the following is correct?

A)Countries with the highest growth rates over the last 120 years are the ones that had the highest level of real GDP 120 years ago.
B)Most countries have had little fluctuation around their average growth rates during the past 120 years.
C)The ranking of countries by income changes little over time.
D)Even though Japan had a higher growth rate of real GDP per person than the U.S.over the last 120 years,it's level of real GDP per person is less than that of the U.S.

Answer 1

D

Question 2

Country A experienced a growth rate of real GDP per person of 2.5 percent per year throughout the 1900's.In view of other countries' experiences during this time country A's growth was

A)exceptionally high.
B)moderately high.
C)moderately low.
D)exceptionally low.

Answer 2

C

Question 3

Which of the following statements is correct?

A)In the late 1800s,real GDP per person was higher in the United Kingdom than in the United States.
B)In 2014,real GDP per person was higher in the United Kingdom than in the United States.
C)The average annual growth rate of real GDP was higher in the United Kingdom than in the United States between the late 1800s and 2014.
D)All of the above are correct.

Answer 3

A

Question 4

Which of the following measures how the level of well-being in a country has changed over time?

A)level of nominal GDP per person.
B)growth rate of nominal GDP.
C)growth rate of real GDP.
D)growth rate of real GDP per person.

Question 5

Countries that have lower levels of real GDP per person than the United States

A)tend to have growth rates that are higher than that of the United States.
B)tend to have growth rates that are about the same as that of the United States.
C)tend to have growth rates that are lower than that of the United States.
D)in some cases have growth rates that are higher than that of the United States and in other cases lower than that of the United States.

Question 6

Which of the following is not correct?

A)Across countries there are large differences in the average income per person.These differences are reflected in large differences in the quality of life.
B)With a growth rate of about 2 percent per year,average income per person doubles about every 60 years.
C)The ranking of countries by average income changes substantially over time.
D)In some countries real income per person has changed very little over many years.

Question 7

A nation's standard of living is best measured by its

A)real GDP.
B)real GDP per person.
C)nominal GDP.
D)nominal GDP per person.

Question 8

Measured in 2014 dollars,real GDP per person in the United States in 2014 was about 10 times that in

A)China.
B)India.
C)Indonesia.
D)Pakistan.

Question 9

Country A experienced a growth rate of real GDP per person of 0.5 percent per year throughout the 1900's.In view of other countries' experiences,country A's growth was

A)exceptionally high.
B)moderately high.
C)moderately low.
D)exceptionally low.

Question 10

Which of the following countries had the lowest level of real GDP per person in 2014?

A)Bangladesh
B)Indonesia
C)Mexico
D)China

Question 11

The level of real GDP person

A)differs widely across countries,but the growth rate of real GDP per person is similar across countries.
B)is very similar across countries,but the growth rate of real GDP per person differs widely across countries.
C)and the growth rate of real GDP per person are similar across countries.
D)and the growth rate of real GDP per person vary widely across countries.

Question 12

In 2014,real GDP per person in Bangladesh was

A)about 3 times as high as it was in the U.S.in 1870.
B)about twice as high as it was in the U.S.in 1870.
C)about the same as it was in the U.S.in 1870.
D)less than it was in the U.S.in 1870.

Question 13

In 2014,the typical Bangladeshi had about

A)more than half the real income of a typical American a century ago.
B)the same real income of a typical American a century ago.
C)2 times as much real income as that of a typical American a century ago.
D)4 times as much real income as that of a typical American a century ago.

Question 14

As of 2014,using real GDP per person as a measure,we would classify

A)the United States and Mexico as advanced economies and Bangladesh as a middle-income country.
B)Canada as an advanced economy,Mexico as a middle-income country,and Pakistan as a poor country.
C)Japan and India as advanced economies and Mexico as a poor country.
D)Japan as an advanced economy,the United Kingdom as a middle-income country,and Argentina as a poor country.

Question 15

Which of the following statements is correct? In 2014,

A)real income per person in the U.S.was about 4 times that in China.
B)real income per person in China was more than 2 times that in India.
C)the typical resident of India had less real income than the typical resident of England in 1870.
D)All of the above are correct.

Question 16

Which of the following can be measured by the level of real GDP per person?

A)productivity and the standard of living
B)productivity but not the standard of living
C)the standard of living but not productivity
D)neither the standard of living nor productivity

Question 17

Countries that grew the fastest over the last 100 or so years had average growth rates of real income per person of about

A)1.5 percent per year.
B)2.0 percent per year.
C)2.5 percent per year.
D)3.0 percent per year.

Question 18

Measured in 2014 dollars,real GDP per person in the United States in 2014 was about

A)$37,000.
B)$56,000.
C)$57,000.
D)$67,000.

Question 19

Which of the following countries had the highest level of real GDP per person in 2014?

A)Germany
B)Canada
C)United States
D)Japan

Question 20

Among the following countries,which one has the highest level of real GDP per person but the lowest growth rate of real GDP per person over a very long period of time?

A)the United Kingdom
B)Mexico
C)Argentina
D)China

Question 21

Which of the following countries had the highest growth rate over about the last 100 years?

A)Japan
B)China
C)Germany
D)United States

Question 22

Which of the following correctly ranks the three countries,from highest to lowest,for percentage of college-age children in school?

A)United Kingdom,Mali,Mexico.
B)Mexico,Mali,United Kingdom.
C)United Kingdom,Mexico,Mali.
D)Mali,Mexico,United Kingdom.

Question 23

Which country has had a higher growth rate than the U.S.over about the last 120 years?

A)India
B)Mexico
C)United Kingdom
D)Pakistan

Question 24

Which of the following nations experienced average rates of economic growth of less than 2 percent over the last 100 years or so?

A)Bangladesh
B)Pakistan
C)United Kingdom
D)All of the above are correct.

Question 25

In 1870,the richest country in the world was

A)Germany.
B)Japan
C)the United Kingdom.
D)the United States.

Question 26

Of the following countries,which grew most slowly,in terms of real GDP per person,over about the last 120 years?

A)Brazil
B)Mexico
C)China
D)United States

Question 27

The United Kingdom is

A)an advanced economy,and over the past century its rate of economic growth has been higher than that of the United States.
B)an advanced economy,and over the past century its rate of economic growth has been lower than that of the United States.
C)a middle-income country,and over the past century its rate of economic growth has been higher than that of the United States.
D)a middle-income country,and over the past century its rate of economic growth has been lower than that of the United States.

Question 28

Which of the following statements is correct?

A)In 1870,real income per person was higher in the United States than in any other country at that time.
B)Over about the last 100 years India experienced significantly higher growth of real income per person than did the United States.
C)Over about the last 100 years the United States experienced significantly higher growth of real income per person than did Japan.
D)None of the above are correct.

Question 29

Which of the following pairs of countries experienced approximately the same rate of growth of real income per person over about the last 120 years?

A)Germany and Japan
B)Indonesia and Bangladesh
C)the United States and Argentina
D)Mexico and Pakistan

Question 30

Which list contains,in this order,a country whose real GDP per person grew faster and one whose real GDP per person grew slower than real GDP per person in the U.S.over about the last 100 years?

A)Bangladesh,India
B)China,United Kingdom
C)Japan,Brazil
D)Pakistan,Mexico

Question 31

Mexico is

A)a poor country,and over the past century its rate of economic growth has been higher than that of the United States.
B)a poor country,and over the past century its rate of economic growth has been lower than that of the United States.
C)a middle-income country,and over the past century its rate of economic growth has been higher than that of the United States.
D)a middle-income country,and over the past century its rate of economic growth has been lower than that of the United States.

Question 32

Among the following countries,which one has the highest growth rate of real GDP per person over about the last 100 years?

A)Argentina
B)Mexico
C)the United Kingdom
D)the United States

Question 33

Which of these countries' growth rates of real GDP per person have exceeded the United States' growth rate of real GDP per person over the last century?

A)Canada and China
B)China and India
C)Germany and India
D)Germany and Pakistan

Question 34

Which of the following is indicated by the data on real income per person for various countries over the past 100 or so years?

A)If,in a relatively poor country,real income per person had grown by 3.5 percent per year for the last 100 years,it would be a relatively rich country today.
B)Rich countries became richer and poor countries became poorer.
C)In the United States,real income per person today is about four times as high as it was 120 years ago.
D)All of the above are correct.

Question 35

Which of the following is correct?

A)Over the last 100 years Japan had a higher average growth rate than the United States.It follows that,today,the standard of living in Japan is higher than in the United States.
B)The typical person in Bangladesh today has about twice the real income of a typical American 100 years ago.
C)The typical citizen of China today has about one-half as much real income as the typical citizen of America today.
D)None of the above is correct.

Question 36

Which country has had a higher growth rate than the US over about the last 120 years?

A)Argentina
B)Germany
C)the United Kingdom
D)None of the above is correct.

Question 37

Over the period 1900-2014,which of the following countries experienced the highest average annual growth rate of real GDP per person?

A)Brazil
B)China
C)India
D)Pakistan

Question 38

One can argue that the average American today is "richer" than the richest American 100 years ago,given that 100 years ago,

A)people's nominal incomes were,on average,much lower than they are today.
B)personal fortunes were not accurately measured.
C)many of the goods and services that we now take for granted were not available.
D)international trade had not yet begun to flourish.

Question 39

Japan is

A)an advanced economy,and over the past century its rate of economic growth has been higher than that of the United States.
B)an advanced economy,and over the past century its rate of economic growth has been lower than that of the United States.
C)a middle-income country,and over the past century its rate of economic growth has been higher than that of the United States.
D)a middle-income country,and over the past century its rate of economic growth has been lower than that of the United States.

Question 40

Which of the following nations experienced average rates of economic growth of a bit under 2% over the last 100 years or so?

A)Mexico
B)Brazil
C)the United States
D)All of the above are correct.

Question 41

Last year the imaginary nation of Panglossia had real GDP of 400 billion.This year it had real GDP of 472.5 billion.Which of the following changes in population is consistent with a 5 percent growth rate of real GDP per person over the last year?

A)The population decreased from 75 million to 72 million.
B)The population decreased from 60 million to 50 million.
C)The population increased from 70 million to 80 million.
D)The population increased from 80 million to 90 million.

Question 42

Last year the imaginary nation of Freedonia had a population of 2,800 and real GDP of 16,800,000.This year it had a population of 2,700 and real GDP of 15,390,000.About what was the growth rate of real GDP per person between last year and this year?

A)-5.3 percent
B)-5 percent
C)5 percent
D)5.3 percent

Question 43

The rate of real economic growth

A)​is underestimated using measures of income growth.
B)​​is overestimated using measures of income growth.
C)​​is underestimated using measures of technological growth.
D)​​​is overestimated using measures of technological growth.

Question 44

Which of the following is higher in Mali than in the United Kingdom?

A)​Modern sanitation access
B)​Income per person
C)​Child mortality
D)​Percent of the population enrolled in college

Question 45

In 2010,the imaginary nation of Bovina had a population of 5,000 and real GDP of 600,000.In 2011 it had a population of 5,200 and real GDP of 636,480.During 2011 real GDP per person in Bovina grew by

A)2 percent,which is high compared to average U.S.growth over the last one-hundred years.
B)2 percent,which is about the same as average U.S.growth over the last one-hundred years.
C)4 percent,which is high compared to average U.S.growth over the last one-hundred years.
D)4 percent,which is about the same as average U.S.growth over the last one-hundred years.

Question 46

In 2010,the imaginary nation of Bovina had a population of 5,000 and real GDP of 500,000.In 2011 it had a population of 5,100 and real GDP of 520,200.During 2011 real GDP per person in Bovina grew by

A)2 percent,which is high compared to average U.S.growth over the last one-hundred years.
B)2 percent,which is about the same as average U.S.growth over the last one-hundred years.
C)4 percent,which is high compared to average U.S.growth over the last one-hundred years.
D)4 percent,which is about the same as average U.S.growth over the last one-hundred years.

Question 47

In 2012,the imaginary nation of Kanmiw had a population of 8,044 and real GDP of 36,198,000.In 2013 it had a population of 7,800 and real GDP of 35,880,000.What was the growth rate of real GDP per person in Kanmiw between 2012 and 2013?

A)-2.2 percent
B)-0.7 percent
C)2.2 percent
D)4.5 percent

Question 48

Last year real GDP in the imaginary nation of Oceania was 561.0 billion and the population was 2.2 million.The year before,real GDP was 500.0 billion and the population was 2.0 million.What was the growth rate of real GDP per person during the year?

A)12 percent
B)10 percent
C)4 percent
D)2 percent

Question 49

Last year real GDP in the imaginary nation of Populia was 907.5 billion and the population was 3.3 million.The year before real GDP was 750 billion and the population was 3 million.What was the growth rate of real GDP per person during the year?

A)10 percent
B)14 percent
C)17 percent
D)21 percent

Question 50

In 2009,the imaginary nation of Mainland had a population of 7,000 and real GDP of 210,000.In 2010 the population was 7,300 and real GDP of 223,380.Over the year in question,real GDP per person in Mainland grew by

A)2 percent,which is high compared to average U.S.growth over the last one-hundred years.
B)2 percent,which is about the same as average U.S.growth over the last one-hundred years.
C)4 percent,which is high compared to average U.S.growth over the last one-hundred years.
D)4 percent,which is about the same as average U.S.growth over the last one-hundred years.

Question 51

Last year real GDP per person in the imaginary nation of Olympus was 4,250.The year before it was 4,100.By about what percentage did Olympian real GDP per person grow during the period?

A)1.6 percent
B)2.5 percent
C)3.7 percent
D)6 percent

Question 52

In 2011,the imaginary nation of Maconia had a population of 8,200 and real GDP of 210,500.Maconia had 5% growth in real GDP per person.In 2012 it had a population of 8,400.To the nearest dollar what was real GDP in Maconia in 2012?

A)216,815
B)221,025
C)226,416
D)None of the above is correct.

Question 53

In 2012,the imaginary nation of Dorados had a population of 8,000 and real GDP of 3,000,000.During the year its real GDP grew by about 2.9%.Which of the following sets of growth rates is consistent with this growth in real GDP?

A)2% population growth and 6% real GDP growth
B)6% population growth and 2% real GDP growth
C)4% population growth and 7% real GDP growth
D)7% population growth and 4% real GDP growth

Question 54

In 2010,the imaginary nation of Mainland had a population of 6,000 and real GDP of 120,000.In 2011 the population was 6,200 and real GDP of 128,960.Over the year in question,real GDP per person in Mainland grew by

A)2 percent,which is high compared to average U.S.growth over the last one-hundred years.
B)2 percent,which is about the same as average U.S.growth over the last one-hundred years.
C)4 percent,which is high compared to average U.S.growth over the last one-hundred years.
D)4 percent,which is about the same as average U.S.growth over the last one-hundred years.