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Quiz 6 :

Economic Growth

Quiz 6 :

Economic Growth

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Using the Rule of 70, if the country of Huttodom's current growth rate of real GDP per person was 10 percent a year, how long would it take the country's real GDP per person to double?
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C

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

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The best definition for economic growth is
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A

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We are interested in long-term growth primarily because it brings
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In 2011, Armenia had a real GDP of $4.21 billion and a population of 2.98 million. In 2012, real GDP was $4.59 billion and population was 2.97 million. What was Armenia's economic growth rate from 2011 to 2012?
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During 2017, the country of Economia had a real GDP of $115 billion and the population was 0.9 billion. In 2016, real GDP was 105 billion and the population was 0.85 billion. Economia's growth rate of real GDP per person is
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Suppose that in 2015 a country has a population of 1 million and real GDP of $1 billion. In 2016, 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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According to the Economic Times (09/2012), Standard & Poor's forecast for India's GDP growth rate was cut by 1 percentage point to 5.5 percent as the entire Asia Pacific region feels the pressure of ongoing economic uncertainty. India has averaged 7 percent growth in GDP since 1997. Based on this story, it is most likely that the slowdown reflects a
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During 2017, the country of Economia had a real GDP of $115 billion and the population was 0.9 billion. In 2016, real GDP was 105 billion and the population was 0.85 billion. In 2017, real GDP per person was
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According to the Economic Times (09/2012), Standard & Poor's forecast for India's GDP growth rate was cut by 1 percentage point to 5.5 percent as the entire Asia Pacific region feels the pressure of ongoing economic uncertainty. India has averaged 7 percent growth in GDP since 1997. Which of the following is TRUE?
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Suppose a nation's 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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Slowdonia's 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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Which of the following is used to calculate the standard of living?
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Suppose real GDP for a country is $13 trillion in 2015, $14 trillion in 2016, $15 trillion in 2017, and $16 trillion in 2018. Over this time period, the real GDP growth rate is
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Economic growth is measured by
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In 2016, Armenia had a real GDP of approximately $4.21 billion and a population of 2.98 million. In 2017, real GDP was $4.59 billion and population was 2.97 million. From 2016 to 2017, Armenia's standard of living
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Using the Rule of 70, if China's current growth rate of real GDP per person was 7 percent a year, how long would it take the country's real GDP per person to double?
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The Rule of 70 is used to
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If a nation's population grows, then
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In 2016, Armenia had a real GDP of approximately $4.21 billion and a population of 2.98 million. In 2017, real GDP was $4.59 billion and population was 2.97 million. Armenia's real GDP per person in 2017 was
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