How can the study of macroeconomics help a country's economic managers? O a. All of these are correct O b. It helps to bring stability in price level and analyses fluctuations in business activities O c. It explains factors which determine balance of payments O d. It helps to achieve the goal of economic growth, a higher GDP level, and higher level of employment

How can the study of macroeconomics help a country's economic managers? O a. All of these are correct O b. It helps to bring stability in price level and analyses fluctuations in business activities O c. It explains factors which determine balance of payments O d. It helps to achieve the goal of economic growth, a higher GDP level, and higher level of employment

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 31CTQ: As technological change makes us more sedentary and food costs increase, obesity is likely. What...

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What are typical GDP patterns for a high-income economy like the United States in the long run and the short run?
As technological change makes us more sedentary and food costs increase, obesity is likely. What factors do you think may limit obesity?
According to Table 19.7, how often have recessions occurred since the end of World War II (1945)?
An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it grows at an annual rate of 2 for 20 years? 2 for 40 years? 4 for 40 years? 6 for 40 years?
Are there other ways in which we can measure productivity besides the amount produced per hour of work?
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Real Consumption westion 1 The diagram below shows alternate paths for two hypothetical economies, each starting with GDP of $1 billion. Assume that Area 1 is equal to Area 2. at yet swered rked out of Economy B 2% growth Area 2 Flag question Еconomy A 1% growth Area 1 Year X Year Y Time FIGURE 25-1 Refer to Figure 25-1. Which of the following statements about Economies A and B is correct? Select one: O a. Economy B will sustain higher material living standards than Economy A in the long run. O b. Economies A and B will have equal material living standards beginning at Year Y. O C. Economies A and B will have equal material living standards beginning at Year 0. O d. Economy A will sustain higher material living standards than Economy B in the long run. O e. Economies A and B will have equal material living standards beginning at Year X. In a macro model with a constant nrice levelan increase in government nurchases will cause the AF curve to shift E 2°C Light rain/snow 13:01 on 2 C )…
What is the best way to measure the rate of economics growth? a. By the annual percentage change in nominal GDP O b. By the annual percentage change in nominal GDP per capita O c. O d. By the annual percentage change in real GDP By the annual percentage change in real GNP per capita Oe. None of the above
120 100F NOR ARE SGP CHE HKG SWE TWN Na. A VEN 40 60 80 100 120 Relatiwe GDP per enpita to the US lewel - 1970 In the figure above, GDP per capita relative to the US level for a large group of countries is plotted for years 1970 (in the horizontal axis) and 2000 (in the vertical axis). Which one of the following statements is correct? O Income per capita of countries on the 45 degree line has grown at a similar rate than income per capita of the US in each year. O Income per capita of each country is plotted according to how strongly it correlates to the income per capita of the US in each year. O The income per capita of those countries below the 45 degree line has grown the fastest in between years 1970 and 20 O The income per capita of those countries on the 45 degree line has not grown in between years 1970 and 2000.
The growth of potential GDP slowed folowing the recession of 2007-2009. Use he data in the following tablo disouss how movement in potential GOP can beolined by te anlyin chapter. Investment as a Annual Growth in Percentage of GDP Labor Year Productivity 2006 2007 194% 0.9% 18.3 1.6 2008 2009 16.5 13.0 0.8 32 2010 2011 14.1 33 14.4 01 0.9 0.3 15.6 2012 2013 16.2 16.7 2014 1.0 1.2 0.0 2015 17.1 2016 16.4 BIUS IEI 3 IE E 3 I x, x Insert Formula
nciples of Macroeconomics Spring20 fall20 stion 16 Activities that encourage faster growth are yet wered Select one: ked out of a. taxes on saving that serve to encourage more spending and less saving. O b. high levels of consumption and low levels of savings. Flag question O c. developing trade barriers to protect national industries. O d. investment in new capital and human capital. evious page