Exam 12: Economic Growth

The prosperity of a nation today is typically measured by its:

Which one of the following will not cause the production possibilities curve to shift outward?

One of the most important determinants of accelerated economic growth is:

Country A and Country B initially have the same real GDP per capita.Country A experiences no economic growth, while Country B grows at a sustained rate of 5 percent.In 14 years, Country A's GDP will be approximately ____ that of Country B.

The most volatile GDP category under the expenditure approach is:

If real GDP increased by 2% and nominal GDP increased by 4%, then output:

Which of the following is a problem with using real GDP as a measure of economic well-being?

Final goods or services used to compute GDP refer to:

Given a constant rate of growth of real GDP, what would lead to an increasing real GDP per capita?

If real GDP per capita is decreasing, real output is:

Which of the following is not part of U.S.GDP?

Which of the following is true?

Exhibit 12-A GDP - Expenditure Approach -Refer to Exhibit 12-A.Net exports of goods and services (X-M) was approximately:

To better measure economic well-being, GDP needs to:

This difference between net income of foreigners and GDP is:

If individuals were paid for their household production, GDP would:

Many scholars believe that the importance of research and development is understated.Efforts in research and development can include:

Total income received by households and noncorporate businesses is called:

Gross national product is equal to:

Net exports are a ____ proportion of GDP and have recently been ____ for the United States.