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Economic Growth

25. Economic Growth. CLICKER QUESTIONS. Checkpoint 25.3. Checkpoint 25.4. Checkpoint 25.1. Question 8. Question 1. Question 5. Question 9. Question 6. Question 2. Question 7. Question 10. Checkpoint 25.2. Question 3. Question 4. CHECKPOINT 25.1. Question 1

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Economic Growth

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  1. 25 Economic Growth CLICKER QUESTIONS

  2. Checkpoint 25.3 Checkpoint 25.4 Checkpoint 25.1 Question 8 Question 1 Question 5 Question 9 Question 6 Question 2 Question 7 Question 10 Checkpoint 25.2 Question 3 Question 4

  3. CHECKPOINT 25.1 Question 1 If real GDP increases by 6 percent a year and at the same time the population increases by 2 percent a year, then real GDP per person grows by _____ a year. • 6 percent • 4 percent • 2 percent • 8 percent • 3 percent

  4. CHECKPOINT 25.1 Question 2 A country experiences a real GDP growth rate of 4 percent a year. Its real GDP will double in ______. • 17.5 years • 14 years • 23.3 years • 35 years • 25 years

  5. CHECKPOINT 25.2 Question 3 If real GDP is $1,200 billion, the population is 60 million, and the quantity of labor is 80 billion hours, labor productivity is _______. • $5.00 an hour • $6.67 an hour • $15.00 an hour • $20,000 • $20.00 an hour

  6. CHECKPOINT 25.2 Question 4 Labor productivity increases if ______. • saving and investment in physical capital and wages increase • human capital and the labor force increase and new technologies are discovered • human capital increases, the population grows, and new technologies are discovered • investment in physical capital, human capital increases, and new technologies are discovered • the labor force increases and wages increase

  7. CHECKPOINT 25.3 Question 5 If real income is above the subsistence level then, according to classical growth theory, ________. • human capital will increase • the population will increase • the standard of living will continue to improve • labor productivity will increase • more technological advances occur

  8. CHECKPOINT 25.3 Question 6 Neoclassical growth theory predicts that economic growth is ________. • only temporary due to overpopulation • the result of technological advances • random because of the extremes in weather • created by women entering the work force • increased by decreasing labor productivity

  9. CHECKPOINT 25.3 Question 7 An increase in labor productivity ____ and ____ the demand for labor. • leads to a movement up along the production function; does not change • leads to a movement upward along the production function; decreases • shifts the production function upward; does not change • shifts the production function downward; increases • shifts the production function upward; increases

  10. CHECKPOINT 25.4 Question 8 Economic growth is enhanced by ______. • engaging in free international trade • limiting international trade so that the domestic economy can prosper • discouraging saving because increased saving means less spending • ignoring incentive systems • increasing welfare payments to the poor so that they can afford to buy goods and services

  11. CHECKPOINT 25.4 Question 9 Which of the following statements is FALSE? • Saving helps create economic growth. • Improvements in the quality of education are important for economic growth. • Free international trade helps create economic growth. • Faster population growth is the key to growth in real GDP per person. • Economic freedom requires property rights.

  12. CHECKPOINT 25.4 Question 10 Saving ________. • slows growth because it decreases consumption expenditure • finances investment, which brings capital accumulation • does not influence economic growth • is very low in most East Asian nations • is important for a country to gain the benefits of international trade

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