Foundations of Economics, Student Value Edition Plus MyLab Economics with eText -- Access Card Package (8th Edition)
Foundations of Economics, Student Value Edition Plus MyLab Economics with eText -- Access Card Package (8th Edition)
8th Edition
ISBN: 9780134641843
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 25, Problem 6MCQ
To determine

To identify:

The option that correctly states about the classical growth theory.

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(a) Identify the factors which are the drivers behind a countries rate of growth. Describe the relevance of each of them in having an effect the growth rate of an economy. (b) Describe the measures that a country can take to improve a countries long term potential growth rate.
Most economists are_____ that natural resources will eventually limit economic growth. As evidence, they note that the prices of most natural resources, adjusted for overall inflation, have tended to _____ over time. a. concerned, rise b.concerned, fall c. not concerned, rise d. not concerned, fall
1. Japan’s real GDP was 525 trillion yen in 2009 and 535 trillion yen in 2010. Japan’s population was 127.6 million in 2009 and 127.5 million in 2010. Calculate a. The economic growth rate. b. The growth rate of real GDP per person. c. The approximate number of years it takes for real GDP per person in Japan to double if the real GDP economic growth rate returns to 3 percent a year and the population growth rate is maintained.
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