The figure shows the relationship between the Gini coefficient and annual average GDP per capita growth. Which of the following is a likely factor that drives economic growth? 3.0 High performers Luxembourg Line drawn arbitrarily 2.5 Norway • Austria Finland 2.0 • UK • France Canada Australia • Italy Belgium Germany US Sweden . Netherlands 1.5 Denmark Low performers 1.0 Switzerland 0.5 0.0 0.20 0.25 0.30 0.35 0.40 Long-term average inequality in disposable income (Gini coefficient) O Very unequal societies spend comparatively large amounts on creating and maintaining secure environments for the well-off. These resources would have higher productivity if redeployed elsewhere. O Cheap labour. O High levels of cooperation and trust. O Policies that enhance the endowments of the poor (e.g. education and health services) may have a greater impact on productivity than pecuniary incentives. Annual average GDP per capita growth, 1970–2012 (%)

The figure shows the relationship between the Gini coefficient and annual average GDP per capita growth. Which of the following is a likely factor that drives economic growth? 3.0 High performers Luxembourg Line drawn arbitrarily 2.5 Norway • Austria Finland 2.0 • UK • France Canada Australia • Italy Belgium Germany US Sweden . Netherlands 1.5 Denmark Low performers 1.0 Switzerland 0.5 0.0 0.20 0.25 0.30 0.35 0.40 Long-term average inequality in disposable income (Gini coefficient) O Very unequal societies spend comparatively large amounts on creating and maintaining secure environments for the well-off. These resources would have higher productivity if redeployed elsewhere. O Cheap labour. O High levels of cooperation and trust. O Policies that enhance the endowments of the poor (e.g. education and health services) may have a greater impact on productivity than pecuniary incentives. Annual average GDP per capita growth, 1970–2012 (%)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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