Exam 12: Production and Growth

The dictator of Turan has recently begun to arbitrarily seize farms belonging to his political opponents, and he has given the farms to his friends. His friends don't know much about farming. The courts in Turan have ruled that the seizures are illegal, but the dictator has ignored the rulings. Other things equal, we would expect that the growth rate in Turan will

In countries where women are discriminated against, policies that increase the likelihood of career success and educational opportunities for women are likely to decrease the birth rate.

Which of the following is an example of a nonrenewable resource?

The Economic Development Minister of a country has a list of things she thinks may explain her country's low growth of real GDP per person relative to other countries. She asks you to pick the one you think most likely explains her country's low growth. Which of the following contributes to low growth?

Other things the same, if a country raises its saving rate, then in the long run

As of 2008, using real GDP per person as a measure, we would classify

Which of the following pairs of countries experienced approximately the same rate of growth of real income per person over the last 100 or so years?

Greg's Ice Cream produces 1120 gallons of ice cream per day. Each employed works seven hours and has productivity of 20 gallons an hour. How many employees does Greg's employ?

Which of the following are human capital and physical capital, respectively?

In the long run, an increase in the saving rate

Last year the imaginary country of Bahkan had a population of 10,000, 6,000 people worked 8 hours a day and produced a real GDP of $30,000,000. The imaginary country of San Andreo had a population of 15,000, 8,000 people worked 7 hours a day and produced a real GDP of $33,000,000. Which of the following is correct?

Which of the following countries benefited significantly from the catch-up effect in the last half of the twentieth century?

Which of the following best states economists' understanding of the facts concerning the relationship between natural resources and economic growth?

Other things the same, another unit of capital will increase output by more in a poor country than in a rich country.

All else equal, which of the following would tend to cause real GDP per person to rise?

If an American-based firm opens and operates a service call center in Bulgaria, then it is engaging in

Last year the imaginary nation of Freedonia had a population of 2,700 and real GDP of 16,200,000. This year it had a population of 2,500 and real GDP of 14,640,000. What was the growth rate of real GDP per person between last year and this year?

"When workers already have a large quantity of capital to use in producing goods and services, giving them an additional unit of capital increases their productivity only slightly." This statement

Suppose over the last year that the price of iron ore increased from $1,200 a ton to $1,300 a ton. Over the same time a measure of the overall price level increased from 168 to 187. The price of iron ore increased by

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