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ECO3203 Exam 3 Review Textbook Assignments 10-13

Terms in this set (131)

Of the following, the most often used measure of changing living standards is

A. the growth rate of nominal GDP.
B. the growth rate of real GDP.
C. the growth rate of nominal GDP per capita.
D. the growth rate of real GDP per capita.
E. unemployment per capita.
D.
Over the last hundred years,

A. movements in output due to recessions and recoveries dominate the movement caused by long-run growth.
B. output has decreased in as many years as it has increased.
C. U.S. output has approximately doubled.
D. all of these
E. none of these
E.
Suppose individuals wish to obtain the most accurate comparison of living standards between the Canada and Saudi Arabia. To do so, one would convert Saudi Arabian output into dollars using

A. the current nominal exchange rate.
B. the current real exchange rate.
C. the prior year's real exchange rate.
D. an average of the last five years' exchange rates.
E. purchasing power parity methods.
E.
Using current exchange rates, the U.S. standard of living is ranked

A. higher than it would be under the purchasing power parity method.
B. lower than it would be under the purchasing power parity method.
C. number one in the world.
D. among the lowest in the world.
E. none of these
B.
Which of the following is a main conclusion about growth for OECD countries and the four rich countries examined in the chapter?

A. There has been a large increase in the standard of living since 1950.
B. The growth rates have decreased since the mid-1970s.
C. There has been a convergence of output per capita since 1950.
D. all of these
E. none of these
D.
Which of the following best characterizes the economic growth for OECD countries since the mid-1970s?

A. Growth has come to a complete halt.
B. Growth has slowed down.
C. Growth has not changed since the 1950s and 1960s.
D. Growth has increased slightly.
E. Growth has increased dramatically.
B.
Between 1950 and 2017, standards of living in the OECD countries

A. did not change at all.
B. were converging.
C. all increased at the same rate.
D. decreased at the same rate.
E. decreased, but at different rates.
B.
In the OECD countries, there is a negative relationship between output per capita in 1950 and

A. growth since 1950.
B. output per capita in the 1990s.
C. distance from the equator.
D. population.
E. none of these
A.
Over the last half-century, which of the following countries has had the highest growth rate of output per capita?

A. Japan
B. France
C. United Kingdom
D. United States
A.
When switching from the "current exchange rate" method to the "purchasing power parity" method, India's standard of living in dollars

A. decreases.
B. remains essentially the same.
C. rises but still remains far below that of the U.S.
D. rises almost to the level of the U.S.
E. leapfrogs over that of the U.S.
C.
Which of the following countries had the highest level of output per capita in 1950?

A. United States
B. France
C. Japan
D. United Kingdom
A.
Which of the following countries had the lowest level of output per capita in 1950?

A. United States
B. France
C. Japan
D. United Kingdom
C.
Which of the following countries experienced the lowest level of output per capita in 2017?

A. United States
B. France
C. Japan
D. United Kingdom
D.
Which of the following countries had the highest rate of growth of output per capita between 1950 and 2017?

A. United States
B. France
C. Japan
D. United Kingdom
C.
By 2017, which of the following countries had the highest level of real output per capita?

A. United States
B. France
C. Japan
D. United Kingdom
A.
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