Appalachian State University ECO 2040 Quiz 4: Economic Growth 1)Nation A's real GDP was $520 billion in 2013 and $550 billion in 2014

Appalachian State University

ECO 2040

Quiz 4: Economic Growth

1)Nation A's real GDP was $520 billion in 2013 and $550 billion in 2014. Its population was 150 million in 2013 and 155 million in 2014. On the other hand, Nation B's real GDP was $200 billion in 2013 and $210 billion in 2014; and its population was 53 million in 2013 and 55 million in 2014. Which of the following statements is true?

2. A nation's real GDP was $250 billion in 2013 and $265 billion in 2014. Its population was 122 million in 2013 and 125 million in 2014. What is the growth rate of real GDP per capita in 2014?

3. In 2011, what percent of adults in the U.S. were college graduates or higher?

4. Between Year 1 and Year 2, real GDP increased by:

5. Economic growth would be best indicated by:

6. Which of the following is a measure of economic growth that is most useful for measuring geopolitical preeminence or military potential?

7. One of the main arguments against further growth for industrialized nations focuses on the problem of:

8. The main cause for the cast differences in per capita GDP levels seen across the globe today is the:

9. Assume that an economy has 1500 workers, each working 2000 hours per year. If the average real output per worker-hour is $20, then total output or real GDP will be:

10. In the modern economic growth process, it is typical to find that:

11. An antigrowth view would be that there may be a significant tradeoff between productivity and…

12. The factor accounting for the largest increase in the productivity of labor in the United States has been:

13. The “rule of 70” is a formula for determining the approximate number of:

14. Which of the following is the single most important source of the U.S. economic growth?

15. Which of the following is a measure of economic growth is most useful for comparing living standards?

16. Nation A's real GDP was $520 billion in 2013 and $550 billion in 2014. Its population was 150 million in 2013 and 155 million in 2014. On the other hand, Nation B's real