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Macroeconomics Canada Study Set 2

Business

Quiz 6 :

Economic Growth

Quiz 6 :

Economic Growth

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A movement _______ illustrates a return to full employment in a business cycle expansion.
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Answer:

A

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During 2016, the country of Economia had real GDP of $115 billion and the population was 0.9 billion.In 2017, real GDP was $105 billion and the population was 0.85 billion.In 2016, real GDP per person was
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Answer:

D

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In which of the following decades did Canada experience the slowest economic growth?
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C

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Economic growth is
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If real GDP per person is growing at 4 percent per year, it will double in
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Real GDP per person in the country of Flip is $10,000, and the growth rate is 10 percent a year.Real GDP per person in the country of Flap is $20,000 and the growth rate is 5 percent a year.When will real GDP per person be greater in Flip than in Flap?
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Growthland's real GDP per person was $112,000 in 2016 and $117,000 in 2017.What is the growth rate of Growthland's real GDP per person in 2017?
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In 2016, Northland had real GDP of $4.21 billion and a population of 2.98 million.In 2017, real GDP was $4.59 billion and population was 2.97 million.What was Northland's growth rate of real GDP in 2017?
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The current growth rate of real GDP per person is 2 percent a year.How long will it take for real GDP per person to double?
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The current growth rate of real GDP per person is 1 percent a year.How long will it take for real GDP per person to double?
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During 2016, the country of Economia had real GDP of $115 billion and the population was 0.9 billion.In 2017, real GDP was $105 billion and the population was 0.85 billion.In 2017, real GDP per person was
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In 2016, Northland had real GDP of $4.21 billion and a population of 2.98 million.In 2017, real GDP was $4.59 billion and population was 2.97 million.Northland's real GDP per person in 2017 was
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If the current growth rate of real GDP per person is 10 percent a year, how long will it take for real GDP per person to double?
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Suppose a country's population grows by 2 percent a year and, at the same time, its real GDP grows by 5 percent a year.Real GDP per person is increasing by _______ a year.
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Canada's economic growth rate was highest in which of the following decades?
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Real GDP is $20 million.If the economy grows at 10 percent per year, approximately how many years will it take for real GDP to grow to $80 million?
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If the current growth rate of real GDP per person is 7 percent a year, how long will it take for real GDP per person to double?
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Choose the statement that is incorrect.
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The Rule of 70 is used to
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In 2016, Northland had real GDP of $4.21 billion and a population of 2.98 million.In 2017, real GDP was $4.59 billion and population was 2.97 million.Between 2016 and 2017, Northland's standard of living
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