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Macroeconomics Study Set 41

Business

Quiz 6 :

Economic Growth

Quiz 6 :

Economic Growth

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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?
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Multiple Choice
Answer:

Answer:

C

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Which of the following is used to calculate the standard of living?
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Answer:

C

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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

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If real GDP per person is growing at 4 percent per year, approximately how many years will it take to double?
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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?
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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
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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?
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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
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If a nationʹs population grows, then,
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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 .
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We are interested in long-term growth primarily because it brings
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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
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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?
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Economic growth is measured by
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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
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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?
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The Rule of 70 is used to
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During 2009, the country of Economia had a real GDP of $115 billion and the population was 0.9 billion. In 2008, real GDP was 105 billion and the population was 0.85 billion. Economiaʹs growth rate of real GDP per person is
Multiple Choice
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Slowdoniaʹs current growth rate of real GDP per person is 1 percent a year. Approximately how long will it take to double real GDP per person?
Multiple Choice
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The best definition for economic growth is
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