Which of the following is correct?Exchange-rate-based measures of income per capita are identical to PPP-based measures.PPP rate-based measures of income are generated by the market.The gap between the income per capita of the U.S. and the income per capita of poorer countries is smaller when PPP-based measures are used.The gap between the income per capita of the U.S. and the income per capita of poorer countries is smaller when exchange rate-based measures are used.Suppose the GDP growth resulting from physical capital in an economy is 1%, and the growth resulting from human capital is 2%. If the annual growth rate of GDP is 5%, the growth resulting from technology equals:1%2%3%4%Net investment is equal to: The change in the stock of capitalGross investment plus depreciationReplacement investmentThe change in the capital stock plus depreciation.Which of the following is the most critical factor contributing to poverty reduction across the world? Sustained economic growthPolicies of income redistribution by governments.Foreign aid.Education Exponential growth implies that: Relatively small differences in growth rates translate into substantial differences in the level of a quantity after many years of growth. Growth rates can only be positive.Growth rates will alternate between positive and negative values in every consecutive period.Relatively large differences in growth rates will translate into small differences in the level of a quantity after many years of growth

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Which of the following is correct?

Exchange-rate-based measures of income per capita are identical to PPP-based measures.
PPP rate-based measures of income are generated by the market.
The gap between the income per capita of the U.S. and the income per capita of poorer countries is smaller when PPP-based measures are used.
The gap between the income per capita of the U.S. and the income per capita of poorer countries is smaller when exchange rate-based measures are used.

Suppose the GDP growth resulting from physical capital in an economy is 1%, and the growth resulting from human capital is 2%. If the annual growth rate of GDP is 5%, the growth resulting from technology equals:

Net investment is equal to:

The change in the stock of capital
Gross investment plus depreciation
Replacement investment
The change in the capital stock plus depreciation.

Which of the following is the most critical factor contributing to poverty reduction across the world?

Sustained economic growth
Policies of income redistribution by governments.
Foreign aid.
Education

Exponential growth implies that:

Relatively small differences in growth rates translate into substantial differences in the level of a quantity after many years of growth.
Growth rates can only be positive.
Growth rates will alternate between positive and negative values in every consecutive period.
Relatively large differences in growth rates will translate into small differences in the level of a quantity after many years of growth

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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