Economics Today The Macro View Ch. 9 Graded A+
1. Economic growth ️: Increases in per capita real GDP measured by its rate of change per year.
2. Labor productivity ️: Total real domestic output (real GDP) divided by the number of workers
(output per worker).
3. Economic growth can be d...
11. Saving is important for economic growth because
A. Without saving, there cannot be investment, and without investment, there will be less economic
growth. ✔️
12. Brazil has a population of about 200 million, with about 145 million over the age of 15. Of these, an
estimated 25 percent, or 35 million people, are functionally illiterate. A. Since the development of
human capital is an important determinant of economic growth, Brazil's literacy and reading rates
suggest its potential economic growth rate is lower. ✔️: A.
13. Norway has a more open economy (lower tariff barriers) than Jamaica. Thus it would be expected
that the average annual per capita growth rate of real GDP would be higher in ✔️: Norway.
Free trade encourages economic growth by ✔️: B. encouraging the more rapid spread of technology.
14. An economy has an overall economic growth rate of 4.6%. Growth in the labor force accounts for
2.1%, growth in physical capital accounts for 1.1%, growth in human capital accounts for 0.6%, and
, growth in the productivity of labor and capital accounts for 0.2%. The increase in growth due to
technology in this economy is ✔️: 0.6% (rounded to one decimal place).
15. Typically, countries in which there are few property rights have ✔️: D. less entrepreneurship, which
leads to less investment, which leads to less economic growth.
16. Which of the following is not a true statement about the impact of immigration on economic
growth?
A. Economists agree that population growth through immigration is a drain on the economy because it
lowers per capita GDP. ✔️
17. Typically, modern developed countries have gone through three stages. Initially, countries have most
of the population involved in ✔️: Agriculture.
Secondly, much of the population moves to ✔️: Industry.
Finally, there is a shift toward ✔️: Services.
18. The two key factors that cause labor productivity to increase over time are:
✔️: B. the quantity of capital per hour worked and the level of technology.
In 2002, real GDP in Economika was $7.8 million. There were 2.5 million workers. Thus average
productivity per worker in Economika was $___. (Round your answer to one decimal place.)
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper CertifiedGrades. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €9,23. Je zit daarna nergens aan vast.
