曼昆经济学题库chapter17.docx

曼昆经济学题库chapter17.docx

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曼昆经济学题库chapter17

Chapter17

ProductionandGrowth

MultipleChoice

1.Anation’sstandardoflivingismeasuredbyits

a.realGDP.

b.realGDPperperson.

c.nominalGDP.

d.nominalGDPperperson.

ANSWER:

b.realGDPperperson.

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2.IncomeindevelopingcountrieslikeIndiaandIndonesia

a.is1/10thorlessofthatindevelopedcountrieslikeJapanandtheUnitedStates.

b.isabout1/8thofthatindevelopedcountrieslikeJapanandtheUnitedStates.

c.isabout1/5thofthatindevelopedcountrieslikeJapanandtheUnitedStates.

d.isabout1/3to1/2ofthatindevelopedcountrieslikeJapanandtheUnitedStates.

ANSWER:

a.is1/10thorlessofthatindevelopedcountrieslikeJapanandtheUnitedStates.

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3.OverthepastcenturyintheUnitedStates,realGDPperpersonhasgrownbyabout

a.1percentperyear.

b.2percentperyear.

c.4percentperyear.

d.6percentperyear.

ANSWER:

b.2percentperyear.

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4.DuringthepastcenturytheaveragegrowthrateofU.S.realGDPperpersonimpliesthatitdoubledaboutevery

a.100yearsonaverage.

b.70years.

c.35years.

d.25years.

ANSWER:

c.35years.

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5.Overthepast100years,U.S.realGDPperpersonhasdoubledaboutevery35years.Ifinthenext100yearsitdoublesevery25years,thenacenturyfromnowU.S.realGDPperpersonwillbe

a.4timeshigherthanitisnow.

b.8timeshigherthanitisnow.

c.12timeshigherthanitisnow.

d.16timeshigherthanitisnow.

ANSWER:

d.16timeshigherthanitisnow.

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6.ThelevelofrealGDPperson

a.differswidelyacrosscountries,butthegrowthrateofrealGDPperpersonissimilaracrosscountries.

b.isverysimilaracrosscountries,butthegrowthrateofrealGDPperpersondifferswidelyacrosscountries.

c.andthegrowthrateofrealGDPperpersonaresimilaracrosscountries.

d.andthegrowthrateofrealGDPperpersonvarywidelyacrosscountries.

ANSWER:

d.andthegrowthrateofrealGDPperpersonvarywidelyacrosscountries.

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7.OverthepastcenturyintheUnitedStates,averageincomeasmeasuredbyrealGDPperpersonhasgrownabout

a.3.5percentperyear,whichimpliesadoublingaboutevery20years.

b.2percentperyear,whichimpliesadoublingaboutevery35years.

c.4percentperyear,whichimpliesadoublingaboutevery17.5years.

d.noneoftheabovearecorrect.

ANSWER:

b.2percentperyear,whichimpliesadoublingaboutevery35years.

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8.IntheUnitedStates,asmeasuredbyrealGDPperperson,averageincomeisabouthowmanytimesashighasaverageincomeacenturyago?

a.2

b.4

c.6

d.8

ANSWER:

d.8

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9.Newproductsareinventedeveryyear.ConsequentlyrealGDPgrowth

a.probablyunderestimatestherateofrealeconomicgrowth.

b.probablyoverestimatestherateofrealeconomicgrowth.

c.probablyaccuratelyestimatestherateofrealeconomicgrowth.

d.israrelyused.

ANSWER:

a.probablyunder-estimatestherateofrealeconomicgrowth.

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10.Inrecentdecades,averageincomeinsomeEastAsiancountries,suchasHongKong,Singapore,andTaiwan,hasrisenabout

a.2percentperyear.

b.4percentperyear.

c.7percentperyear.

d.10percentperyear.

ANSWER:

c.7percentperyear.

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11.InsomeEastAsiancountries,averageincome,asmeasuredbyrealGDPperperson,hasgrownatanaverageannualratethatimpliesoutputshoulddoubleaboutevery

a.10years.

b.15years.

c.20years.

d.25years.

ANSWER:

a.10years.

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12.Inthelengthofonegeneration,whichofthefollowingcountrieshasgonefrombeingamongthepoorestcountriesintheworldtobeingamongtherichest?

a.Chad

b.Ethiopia

c.India

d.SouthKorea

ANSWER:

d.SouthKorea

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13.Averageincomehasbeenstagnantformanyyearsin

a.Ireland.

b.Singapore.

c.Ethiopia.

d.Alloftheabovearecorrect.

ANSWER:

c.Ethiopia.

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14.Whichofthefollowingistrue?

a.AlthoughlevelsofrealGDPperpersonvarysubstantiallyfromcountrytocountry,thegrowthrateofrealGDPperpersonissimilaracrosscountries.

b.Productivityisnotcloselylinkedtogovernmentpolicies.

c.ThelevelofrealGDPperpersonisagoodgaugeofeconomicprosperity,andthegrowthrateofrealGDPperpersonisagoodgaugeofeconomicprogress.

d.ProductivitymaybemeasuredbythegrowthrateofrealGDPperperson.

ANSWER:

c.ThelevelofrealGDPperpersonisagoodgaugeofeconomicprosperity,andthegrowthrateofrealGDPperpersonisagoodgaugeofeconomicprogress.

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15.WhichofthefollowingdoesthelevelofrealGDPmeasure?

a.totalrealincome

b.productivity

c.thestandardofliving

d.Alloftheabovearecorrect.

ANSWER:

a.totalrealincome

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16.Theaverageamountofgoodsandservicesproducedfromeachhourofaworker'stimeiscalled

a.percapitaGDP

b.percapitaGNP

c.productivity

d.humancapital

ANSWER:

c.productivity

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17.Anation'sstandardoflivingisdeterminedby

a.itsproductivity.

b.itsgrossdomesticproduct.

c.itsnationalincome.

d.howmuchithasrelativetoothers.

ANSWER:

a.itsproductivity.

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18.Whichofthefollowingiscorrect?

a.Overthelast100yearsJapanhadahigheraveragegrowthratethantheUnitedStates.ItfollowsthatthestandardoflivinginJapanisgreaterthanintheUnitedStates.

b.ThetypicalpersoninPakistantodayhasaboutthesamerealincomeasatypicalAmerican100yearsago.

c.ThetypicalcitizenofChinatodayhasaboutasmuchrealincomeasthetypicalAmericanin1950.

d.Noneoftheabovearecorrect.

ANSWER:

d.Noneoftheabovearecorrect.

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19.In2000,thetypicalPakistanihadabouthowmanytimestheincomeofthetypicalAmericanin1900?

a.2

b.1

c.2/3

d.1/4

ANSWER:

d.1/4

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20.In2000,thetypicalcitizenofChinahadaboutasmuchrealincomeasthetypicalpersonintheUnitedKingdomin

a.1870.

b.1920.

c.1945.

d.1975

ANSWER:

a.1870.

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21.Whichofthefollowingcountries,hadthehighestgrowthrateoverthelast100years?

a.Brazil

b.Germany

c.Canada

d.UnitedStates

ANSWER:

a.Brazil

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22.Countriesthatgrewthefastestoverthelast100yearshadgrowthratesofabout

a.0.5percent.

b.1.5percent.

c.2.0percent.

d.2.5percent.

ANSWER:

d.2.5percent.

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23.Ofthefollowingcountrieswhichgrewtheslowestoverthelast100years?

a.Brazil.

b.Mexico.

c.China.

d.UnitedStates.

ANSWER:

d.UnitedStates.

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24.Whichofthefollowingiscorrect?

a.Countrieswiththehighestgrowthratesoverthelast100yearsaretheonesthathadthehighestlevelofrealGDP100yearsago.

b.Mostcountrieshavehadlittlefluctuationaroundtheiraveragegrowthratesduringthepast100years.

c.Therankingofcountriesbyincomechangessubstantiallyovertime.

d.Overthelast100years,JapanhadthehighestrealGDPgrowthrate,andnowhasthehighestrealGDPperperson.

ANSWER:

c.Therankingofcountriesbyincomechangessubstantiallyovertime.

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25.Overthelast100yearswhichofthefollowinghadgrowthrateshigherthanthatoftheUnitedStates?

a.theUnitedKingdom

b.Bangladesh

c.Pakistan

d.Noneoftheabovearecorrect.

ANSWER:

d.Noneoftheabovearecorrect.

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26.Whichofthefollowingnationsexperiencedaverageratesofeconomicgrowthoflessthan2.0percentoverthelast100years?

a.Bangladesh

b.Pakistan

c.UnitedKingdom

d.Alloftheabovearecorrect.

ANSWER:

d.Alloftheabovearecorrect.

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27.In1870,therichestcountryintheworldwas

a.theUnitedStates.

b.Spain.

c.theUnitedKingdom.

d.Germany.

ANSWER:

c.theUnitedKingdom.

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28.In2002realGDPperpersoninOlympuswas4,500.In2001itwas4,250.WhatwasthegrowthrateofrealGDPperperson?

a.5.6percent

b.5.9percent

c.6.5percent

d.Noneoftheabovearecorrecttothenearesttenth.

ANSWER:

b.5.9percent

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29.In2002realGDPinOceaniawas561.0billionandthepopulationwas2.2million.In2001realGDPwas500.0billionandthepopulationwas2.0million.WhatwastheapproximategrowthrateofrealGDPperperson?

a.12percent

b.10percent

c.4percent

d.2percent

ANSWER:

d.2percent

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30.In2002realGDPinLataniawas750billionandthepopulationwas3million.In2003realGDPwas907.5andthepopulationwas3.3million.WhatwastheapproximategrowthrateofrealGDPperperson?

a.10percent

b.14percent

c.17percent

d.21percent

ANSWER:

a.10percent

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31.In2002,Freedoniahadapopulationof2,700andrealGDPofabout11,610,000.In2001ithadapopulationof2,500andrealGDPofabout10,000,000.WhatwastheapproximategrowthrateofrealGDPperpersoninFreedoniabetween2001a