Exam 17: Institutions, Policies, and Cross-Country Differences in Income and Growth

What is the Economic Freedom of the World index designed to measure? What will determine whether the rating of a country will be high or low on this index?

How do growth rates vary across countries? Are the rich countries getting richer while the poor are getting poorer?

Political institutions are more likely to allow and encourage the emergence of good economic institutions and policies when

Which of the following about economic freedom is true?

During the 2000-2009 decade,

Which of the following will be required for a country to move up the income ladder and achieve high-income status?

In order to achieve a high rating on the Economic Freedom of the World index, a country must

Countries with more economic freedom during 1980-2010 tended to

Which of the following about economic freedom is true?

Which of the following countries began economic liberalization in the 1970s and have achieved an impressive record of economic growth since that time?

Nations will attract investment and its citizens will engage in productive activities when the institutions and policies of that country

For most less-developed countries, the proven technologies of the high-income countries are readily available. Why hasn't this always led to economic growth for these low-income countries?

Realization of gains from trade, entrepreneurial discovery, and investment are largely dependent on

The Economic Freedom of the World measure indicates that the United States

(I) Historically, countries with colonial settlers who planned on staying for long periods of time set up sound economic institutions. (II) Countries with harsh environments not suitable for permanent settlements resulted in colonial settlers adopting weaker and less productive economic institutions before leaving.

Which of the following calculates the cost of purchasing a specific bundle of goods and services in each country and uses this measure to convert the incomes of different countries to a common currency so they may be more accurately compared?

Which of the following has contributed to China's economic growth since 1980?

Nations will attract investment and its citizens will engage in productive activities when the institutions and policies of that country

Which of the following countries have the highest per person income levels?

Which of the following is true?