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1、Name:??Class:??Date:?Chapter7-ProductionandGrowth1.?Whatisthemostappropriatemeasureofanation’sstandardofliving??a.?realGDP?b.?realGDPperperson?c.?nominalGDP?d.?nominalGDPperpersonANSWER:??b2.?WhichstatementbestexplainstheimportanceofrealGDPperperson??a.?Itisausefulmeasureofeconomicgrowth.?b.
2、?Itisausefulmeasureofthehealthofcitizens.?c.?Itisausefulmeasureofthecostofliving.?d.?Itisausefulmeasureofwell-being.ANSWER:??d3.?Whichofthefollowingbestdescribeschangesintheaveragewell-beinginacountry??a.?thegrowthrateoftheunemployed?b.?thegrowthrateofnominalGDP?c.?thegrowthrateofrealGDP?d.?
3、thegrowthrateofrealGDPperpersonANSWER:??d4.?HowdoesincomeindevelopingcountrieslikePakistanandBangladeshcomparewiththatinJapanandCanada??a.?It’sabout1/10orlessofthatindevelopedcountrieslikeJapanandCanada.?b.?It’sabout1/8ofthatindevelopedcountrieslikeJapanandCanada.?c.?It’sabout1/4ofthatindeve
4、lopedcountrieslikeJapanandCanada.?d.?It’sabout1/3to1/2ofthatindevelopedcountrieslikeJapanandCanada.ANSWER:??a5.?OverthepastcenturyinCanada,byhowmuchhasrealGDPperpersongrown??a.?byabout1percentperyear?b.?byabout2percentperyear?c.?byabout4percentperyear?d.?byabout8percentperyearANSWER:??b6.?In
5、approximatelyhowmanyyearswillrealGDPperpersoninCanadadouble,givenitsaveragegrowthrateduringthepastcentury??a.?25years?b.?35years?c.?50years?d.?80yearsANSWER:??b7.?Overthepast100years,CanadianrealGDPperpersonhasdoubledaboutevery35years.Ifinthenext100yearsitCopyrightCengageLearning.PoweredbyCo
6、gnero.Page?36Name:??Class:??Date:?Chapter7-ProductionandGrowthdoublesevery25years,thenwhatwillCanadianrealGDPperpersonbeacenturyfromnow??a.?8timeshigherthanitisnow?b.?10timeshigherthanitisnow?c.?12timeshigherthanitisnow?d.?16timeshigherthanitisnowANSWER:??d8.?Whichstatementbestcharacterizest
7、hevariationsinrealGDPperpersonanditsrateofgrowthacrosscountries??a.?RealGDPperpersondifferswidelyacrosscountries,butthegrowthrateofrealGDPperpersonissimilaracrosscountries.?b.?RealGDPperpersonisverysimilaracrosscountries,butthegrowthrateofrealGDPpe