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Macroeconomics Private and Public Choice

Business

Quiz 17 :

Institutions, Policies, and Cross-Country Differences in Income and Growth

Quiz 17 :

Institutions, Policies, and Cross-Country Differences in Income and Growth

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In order to achieve a high economic freedom rating, a country must
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B

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The GDP figures fail to count labor services and other household production. Once this omission is taken into account,
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C

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The purchasing power parity method of comparing income levels across countries
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A

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Which of the following calculates the cost of purchasing a specific bundle of goods and services in each country and uses this measure to convert the incomes of different countries to a common currency so they may be more accurately compared?
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Compared to those in low-income countries, the residents of countries with high per person incomes nearly always
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Countries that have a higher degree of economic freedom tend to
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Countries that have adopted liberal reforms and substantially increased their economic freedom rating in recent years
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Which of the following countries have liberalized their economies and substantially improved their economic freedom rating since 1990?
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Which of the following about economic growth is true?
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During 1980-2009, the countries achieving the most rapid growth of real GDP were nearly all
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During 1980 through 2010,
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The purchasing power parity (PPP) method
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In the absence of an even-handed legal system, high transaction costs will eliminate many potential mutually advantageous trades and the accompanying gains from
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Which of the following countries have the highest per person income levels?
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Which of the following about economic freedom is true?
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Income per person in the United States is approximately ____ that of Sierra Leone, Malawi, and Niger, three of the world's poorest countries.
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When making income comparisons across countries, economists generally prefer to use
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Compared to high-income developed countries, the per person income levels of poorer less developed countries are somewhat understated because
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Which of the following is true concerning the growth record of less developed countries (LDCs) during the last several decades?
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Which of the following economies have the highest degree of economic freedom?
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