2.1 Differentiate between economic expansion and contraction. Providing evidence from appropriate academic sources, identify if South Africa is currently experiencing an expansion or contraction and motivate your answer.

Demand management policies do not matter for growth in the long run as long as there is productivity growth. Why or why not?

Which of the following statements is true? Select one: a.Wealthy countries tend to score highest on the "least corrupt" scale. b.Poor countries are likely to remain poor because when one country's economy grows, it is at the expense of some other country's economy. c.Poor countries are poor because they lack resources. d.The pursuit of economic growth harms children by encouraging child labour industries and discouraging school attendance.   In general, countries which are less corrupt by most international measures Select one: a.experience higher long term growth rates. b.have higher short term growth rates but are no different in the long run. c.have growth rates similar to more corrupt countries. d.are poorer than countries with higher levels of corruption.   As GDP per person rises Select one: a.the number of children per family tends to fall. b.environmental quality falls and continues to fall. c.the incidence of child labour rises. d.the economy shifts towards more labour…

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"Given the rate at which scientists are making new discoveries, we will soon reach the point that no further discoveries can be made. Economic growth will come to a stop.” Do you believe this to be an accurate statement? If so, why? If not, why?

Identify ONE way that the data in the chart illustrate global economic differences between countries in the late twentieth century. b) Identify ONE similarity (other than GDP per capita) that might account for the low life expectancies of some of the world’s countries, as displayed in the chart. c) Explain ONE way in which longer life expectancies in some of the world’s countries, as displayed in the chart, have led to new political, economic, or social problems.

18. The Goal of                          is to promote price stability, full employment, and economic growth.

Discuss China's Economic growth of 5.2% last year and how their population decrease can negatively effect their economy.

Tracking the past millennium, they say, puts the current economic drama into perspective. please identify the inaccurate representation in the following set. A) China alone generated one-third of the world’s gross domestic product in 1820.   B) For most of this span, China and India were the world’s two biggest economies   C) In 1850, India produced the highest percent of all the goods consumed in the world.   D) From 1000 to the mid-1880s, they produced, on average, 70 to 80 percent of world output   E) Before the steam engine and the power loom drove the transfer of economic might from Asia to the West, today’s emerging economies dominated world output.

During the last 20 to 30 years, there have been a number of countries whose econo- mies have experienced important economic expansion and development. One group of countries has been labeled the BRIC and the other the VISTA. Identify each of the nine countries and provide some insights about their economies and economic importance.