Answered: Which of the following statements is…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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 intensive industries.

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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