9 Economic Growth
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Economic growth is defined as | show 🗑
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| show | 18-16/16 * 100 = 12.5%
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| show | 11%
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| Using the data in the table above, the growth rate for real GDP for 2005 is equal to | show 🗑
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| show | Real GDP/Population
$14,257.43
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| show | Calculate Growth Rate for Time Periods
slowed down from year to year
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| show | real GDP per person
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| show | Real GDP must grow more rapidly than the population
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| show | Growth Rate - Population Rate
Percentage Change formula to both: 2.8%
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| show | 70/2.5 = 28
Double the current level of real GDP in about 28 years
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| show | How many times does Cape Verde have to double:?
1-2-4-8=3X 70/5.2=13 13X3=40
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| show | Real GDP/Aggregate Hours
6,460/170=38
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| show | 45
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| The widespread adoption of computers in the workplace has likely caused a | show 🗑
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| Increases in human capital can come | show 🗑
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| Thomas Malthus was an economist who contributed to the _______ theory of growth | show 🗑
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| show | Not last because higher income leads to a population explosion
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| show | people make choices in pursuit of profits
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| The new growth theory asserts that profits are | show 🗑
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| show | economic freedom
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| Economic freedom requires | show 🗑
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| show | don't have social institutions with a strong rule of law and economic freedom
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| show | the government will not confiscate their income or savings
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| show | savings finances investment
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Created by:
malanave