Our standards of living is most closely related to ?

A. How hard we work:
B. Our supply of capital because everything of value is produced by machinery
C. Our productivity because our income is equal to what we produce
D. Our supply of natural resources because they limit production

Which of the following government policies is least likely to increase likely to increase growth in Africa ?

A. Increase expenditure on public education
B. Eliminate civil war
C. All of these answers would increase growth
D. Increase restrictions on the importing of american tractors and electronics

If in Pakistan real GDP/person in 2004 is Rs18,073 and real GDP/person is 2005 is Rs18,635 What is the growth rate of real output per person over this period ?

A. 3.1 percent
B. 3.0 percent
C. 18.6 percent
D. 18.0 percent

As economic development proceeds income inequality tends to follow a(n) _____ curve?

A. Convex
B. Inverted u shaped
C. L-shaped
D. S-shaped

Peasants are ?

A. Rural politicians
B. Rural cultivators
C. Rural industrialist
D. Rural, religious group

If Toyota builds a new plant in the north of England ?

A. None of these answers
B. There has been an increase in foreign portfolio investment in the uk
C. Once the plant starts producing cars uk gdp will rise less than uk gnp
D. Once the plant starts producing cars uk gdp will rise more than uk gnp

Which of the following expenditures to enhance productivity is most likely to emit a positive externality ?

A. Megabank buys a new computer
B. Naila pays her university tuition fees.
C. Ogdc leases a new oil field
D. Indus motors buys a new drill press

To increase growth, governments should do all of the following except ?

A. Encourage foreigners to investment in your country
B. Encourage saving and investment
C. Nationalize major industries
D. Encourage research and development

Many East Asian countries are growing very quickly because ?

A. They save and invest an unusually high percentage of their gdp
B. They have always been wealthy and will continue to be wealthy, which is known as the “snowball effect”
C. They are imperialists and have collected wealth from previous victories in war
D. They have enormous natural resources.

For a given level of technology, we should expect an increase in productivity within a nation when there is an increase in each of the following except ?

A. Labor
B. Physical capital/worker
C. Human capital/worker
D. Natural resources/worker