Exam 20: Economic Growth and Development

Increases in worker productivity usually reflect

Suppose a developing country is falling further behind the developed countries that it neighbors. As an economic consultant you are called to look at its policies to recommend changes. If you saw all of the following on your visit, which of them could be an explanation for the slow growth in the economy?

-In Figure 20.2, the increase in Real GDP might reflect

The U.S. represents less than 5% of the world's population, but produces a share of the world's output almost equal to

-In Figure 20.1, the increase in Real GDP might reflect

A country's real GDP can increase for brief periods of time

How does the inability of foreign investors to repatriate profits impact a developing economy?

Among countries with per capita gross national income in 2006 greater than $24,000,

If a country resolves its corruption issues that had inhibited the ability of local businesses to be as productive as possible, it will impact its economy by

Expected deflation can reduce Aggregate demand by

From 1990 to 2004 among developed countries, a 1 percentage point increase in productivity growth was associated with increased per capita GDP growth of

If a country that has experienced political instability (coups, revolutions, etc.), begins to experience a stable period of elections and peaceful transitions of government, it will impact its economy by

Aggregate Supply decreases when

If a country faces starvation among its people and therefore cannot afford to improve its infrastructure (thereby inhibiting exports)it will impact its economy by

-In Figure 20.2, if Aggregate Demand does not change, the increase in Real GDP will be accompanied by

The greatest threat to continued growth in the developed countries might be

Which of the following is far more likely to be an important part of actual production in the Sudan than it is in the United States?

Suppose a developing country is falling further behind the developed countries that it neighbors. As an economic consultant you are called to look at its policies to recommend changes. If you saw all of the following on your visit, which of them could be an explanation for the slow growth in the economy?

Among countries with Per Capita GDP in 2004 less than $2,000, the opportunity cost of increased education and literacy for young workers might be measured as

Using the cost of a similar market basket of goods across countries to compare an economic variable like gross national income applies the concept of