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Macroeconomics Study Set 41

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Quiz 6 : Economic Growth

In 2008, Armenia had a real GDP of $4.21 billion and a population of 2.98 million. In 2009, real GDP was$4.59 billion and population was 2.97 million. What was Armeniaʹs economic growth rate from 2008 to 2009?
Free
Multiple Choice

C

Which of the following is used to calculate the standard of living?
Free
Multiple Choice

C

During 2011, the country of Economia had a real GDP of $115 billion and the population was 0.9 billion. In 2010, real GDP was 105 billion and the population was 0.85 billion. In 2011, real GDP per person was Free Multiple Choice Answer: Answer: C If real GDP per person is growing at 4 percent per year, approximately how many years will it take to double? Multiple Choice Answer: Using the Rule of 70, if the country of Flowerdomʹs current growth rate of real GDP per person was 7 percent a year, how long would it take the countryʹs real GDP per person to double? Multiple Choice Answer: Suppose that in 2009 a country has a population of 1 million and real GDP of$1 billion. In 2010, the population is 1.1 million and the real GDP is $1.1 billion. The real GDP per person growth rate is Multiple Choice Answer: Slowdoniaʹs current growth rate of real GDP per person is 2 percent a year. How long will it take to double real GDP per person? Multiple Choice Answer: In 2008, Armenia had a real GDP of approximately$4.21 billion and a population of 2.98 million. In 2009, real GDP was $4.59 billion and population was 2.97 million. Armeniaʹs real GDP per person in 2009 was Multiple Choice Answer: If a nationʹs population grows, then, Multiple Choice Answer: In 2008, Armenia had a real GDP of approximately$4.21 billion and a population of 2.98 million. In 2009, real GDP was $4.59 billion and population was 2.97 million. From 2008 to 2009, Armeniaʹs standard of living . Multiple Choice Answer: We are interested in long-term growth primarily because it brings Multiple Choice Answer: During 2011, the country of Economia had a real GDP of$115 billion and the population was 0.9 billion. In 2010, real GDP was 105 billion and the population was 0.85 billion. In 2010, real GDP per person was
Multiple Choice
Using the Rule of 70, if the country of Flowerdomʹs current growth rate of real GDP per person was 10 percent a year, how long would it take the countryʹs real GDP per person to double?
Multiple Choice
Economic growth is measured by
Multiple Choice
Suppose real GDP for a country is $13 trillion in 2007,$14 trillion in 2008, $15 trillion in 2009, and$16 trillion in 2010. Over this time period, the real GDP growth rate is
Multiple Choice
Suppose a nationʹs population grows by 2 percent and, at the same time, its GDP grows by 5 percent. Approximately how fast will real GDP per person increase?
Multiple Choice