Question 1

Other things constant,a lower savings rate

Accepted Answer

A) leads to lower interest rates. 
B) means lower standards of living in the future. 
C) means lower standards of living today. 
D) is associated with a decline in the rate of growth of the population. 
A) leads to lower interest rates. 
B) means lower standards of living in the future. 
C) means lower standards of living today. 
D) is associated with a decline in the rate of growth of the population.

Question 2

A system of property rights

Accepted Answer

A) enhances economic growth by creating incentives to the Bank of Canada to maintain stable prices. 
B) enhances economic growth by increasing the probability that a person can gain from making investments today. 
C) retards economic growth by serving the interests of the wealthy only. 
D) retards economic growth by limiting the options of people who own nothing. 
A) enhances economic growth by creating incentives to the Bank of Canada to maintain stable prices. 
B) enhances economic growth by increasing the probability that a person can gain from making investments today. 
C) retards economic growth by serving the interests of the wealthy only. 
D) retards economic growth by limiting the options of people who own nothing.

Question 3

Labour productivity is found by

Accepted Answer

A) the net domestic product. 
B) dividing the value of total domestic output (GDP)by the number of workers. 
C) the size of the labour force divided by total real GDP. 
D) the rate of capital accumulation. 
A) the net domestic product. 
B) dividing the value of total domestic output (GDP)by the number of workers. 
C) the size of the labour force divided by total real GDP. 
D) the rate of capital accumulation.

Question 4

Suppose two countries have identical growth rates of real GDP and the same initial value of per capita real GDP.We know,then,that

Accepted Answer

A) life expectancies are the same in both countries. 
B) economic well-being is the same in both countries. 
C) living standards may differ in the two countries because we don't know how income is distributed in the countries. 
D) living standards in the two countries are probably identical,or very close to each other. 
A) life expectancies are the same in both countries. 
B) economic well-being is the same in both countries. 
C) living standards may differ in the two countries because we don't know how income is distributed in the countries. 
D) living standards in the two countries are probably identical,or very close to each other.

Question 5

If population growth is more than growth of real output,

Accepted Answer

A) real per capita GDP growth will be less than the growth of GDP. 
B) there can be no economic growth. 
C) real per capita GDP growth will be greater than the growth of GDP. 
D) real per capita GDP and GDP will be growing at the same rate. 
A) real per capita GDP growth will be less than the growth of GDP. 
B) there can be no economic growth. 
C) real per capita GDP growth will be greater than the growth of GDP. 
D) real per capita GDP and GDP will be growing at the same rate.

Question 6

Other things held constant,an increase in consumption spending implies

Accepted Answer

A) a decrease in saving. 
B) a decrease in government spending. 
C) a lower standard of living in the future. 
D) economic growth is stagnant. 
A) a decrease in saving. 
B) a decrease in government spending. 
C) a lower standard of living in the future. 
D) economic growth is stagnant.

Question 7

Economic growth may overstate changes in standards of living if

Accepted Answer

A) the growth is accompanied by increasing congestion. 
B) leisure time is also decreasing. 
C) the types of jobs generated feelings of alienation. 
D) deflation is taking place. 
A) the growth is accompanied by increasing congestion. 
B) leisure time is also decreasing. 
C) the types of jobs generated feelings of alienation. 
D) deflation is taking place.

Question 8

Labour productivity decreases when

Accepted Answer

A) the population increases. 
B) output remains constant while the labour force increases. 
C) output decreases at the same rate as the labour force increases. 
D) output decreases faster than population increases. 
A) the population increases. 
B) output remains constant while the labour force increases. 
C) output decreases at the same rate as the labour force increases. 
D) output decreases faster than population increases.

Question 9

Sustainable development means

Accepted Answer

A) increases in per capita real GDP measured by its rate of change per year. 
B) method of redistributing income to the poorest in society. 
C) improvements in labour productivity which lead to greater economic growth and higher living standards. 
D) economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs. 
A) increases in per capita real GDP measured by its rate of change per year. 
B) method of redistributing income to the poorest in society. 
C) improvements in labour productivity which lead to greater economic growth and higher living standards. 
D) economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Other things constant,a lower savings rate

A system of property rights

Labour productivity is found by

Suppose two countries have identical growth rates of real GDP and the same initial value of per capita real GDP.We know,then,that

If population growth is more than growth of real output,

Other things held constant,an increase in consumption spending implies

Economic growth may overstate changes in standards of living if

Labour productivity decreases when

Sustainable development means

The Nature of Economics

Production Possibilities and Economic Systems

Demand and Supply

Introduction to Macroeconomics

Measuring the Economys Performance

Modelling Real Gdp and the Price Level in the Long Run

Modelling Real Gdp and the Price Level in the Short Run

Consumption, investment, and the Multiplier

The Public Sector

Fiscal Policy and the Public Debt

Money and the Banking System

Money Creation and Deposit Insurance

The Bank of Canada and Monetary Policy

Issues in Stabilization Policy

Comparative Advantage and the Open Economy

Exchange Rates and the Balance of Payments

Filters

Exam 7: Economic Growth and Development

Other things constant,a lower savings rate

A system of property rights

Labour productivity is found by

Suppose two countries have identical growth rates of real GDP and the same initial value of per capita real GDP.We know,then,that

If population growth is more than growth of real output,

Other things held constant,an increase in consumption spending implies

Economic growth may overstate changes in standards of living if

Labour productivity decreases when

Sustainable development means

The Nature of Economics

Production Possibilities and Economic Systems

Demand and Supply

Introduction to Macroeconomics

Measuring the Economys Performance

Modelling Real Gdp and the Price Level in the Long Run

Modelling Real Gdp and the Price Level in the Short Run

Consumption, investment, and the Multiplier

The Public Sector

Fiscal Policy and the Public Debt

Money and the Banking System

Money Creation and Deposit Insurance

The Bank of Canada and Monetary Policy

Issues in Stabilization Policy

Comparative Advantage and the Open Economy

Exchange Rates and the Balance of Payments

Filters