Exam 7: The Wealth of Nations and Economic Growth

The ability to collect on a debt in a timely manner is due to:

Individuals in wealthy nations tend to enjoy less leisure.

Wealthier countries have:

The world's poorest country is:

Countries that are NOT landlocked tend to grow _____ because _____.

Which statement is TRUE about economic growth?

Which are immediate causes of the wealth of nations?

When industries are limited by the size of the domestic market,opening trade to the world markets will likely lead to _____ and _____ real GDP per capita in the domestic country.

Relative to Japan,Argentina was _____ in 1950 and _____ in 2000.

Following World War II,Japan was one of the richest countries in the world.

Why do economists look at a government's honesty when they study national wealth?

If real GDP per capita in a country were $14,000 in year 1 and $14,280 in year 2,then the economic growth rate for this country from year 1 to year 2 was:

Countries that have high per capita GDP tend to have:

Data from countries around the world suggest that "health and wealth" (measured by infant survival rates and real GDP per capita)are:

Honest government _____ economic growth.

The key reason for China's growth miracle beginning in the late 1970s was:

Some of the poorest countries in the world are rich with natural resources.Explain why these resource-rich nations still struggle with low economic growth.

Virtually every indicator of societal well-being tends to increase with wealth.

Fully 80% of the world's population live in countries with a GDP:

Use the following to answer questions Figure: The Distribution of World Income -What percentage of the world's population lives in a country that has a GDP per capita above the world average?