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

During the past three decades, the economic freedom gap between high and low income countries has _______ and per capita income has grown ______ in high income than low income countries. (Fill in the two blanks)

Which of the following about economic freedom is true?

Compared to those in low-income countries, the residents of countries with high per person incomes nearly always

Since 1980, economic freedom has increased  _______  in less developed countries than in high-income developed nations and the per capita income of less developed countries has grown  _____ than in the high-income developed countries. (Fill in the blanks)

Which of the following is true regarding the growth record of less-developed countries (LDC's) during the past quarter of a century?

On average, countries that have a larger degree of economic freedom tend to have

What has happened to income inequality and the poverty rate of the world since 1980?

Democracy tends to best promote freedom when there is

If a country's political leaders wanted to promote economic growth, which of the following policy alternatives would be most effective?

During 1980 through 2014,

Which of the following political institutions would be supportive of an economic environment that would promote gains from trade and productive activities, while discouraging counterproductive actions?

The income per person in the quartile of countries with the most economic freedom was approximately ____ times the figure for the least free group of countries.

Economic theory and history indicate that open elections and democratically elected governments

During 1980-2014, the per-capita incomes of less-developed countries (LDCs)

The rapid growth rates of less developed countries (LDCs) after adopting institutions and policies more favorable to economic freedom and voluntary exchange is not surprising when one considers that

Which of the following will increase economic freedom?

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?

The GDP figures fail to count labor services and other household production. Once this omission is taken into account,

Dividing data into quartiles means that you are dividing data into

How did the world's per capita income and the degree of income inequality change between 1800 and  1980?