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Chapter 17 Quiz

Chapter 17 Quiz

This activity contains 10 questions.

	We know that GDP per capita today varies greatly over countries, while over 200 years ago, this wasn't the case. Why is this?   Countries often fluctuate between being rich and poor. Some countries have grown a lot, while some have remained stagnant. Some countries have become richer, while others have become poorer. None of the above.

	Which of the following is an example of a country whose growth started most recently and is now an economic leader?   Russia U.S. Japan U.K.

	Which country's past shows that there is often more than lack of capital accumulation to blame for slow growth?   Russia Mexico South Korea None of the above.

	If technology was the only reason for the productivity gap among countries today, poorer countries would have to be using technology that was how far behind that of the more advanced countries?   More than 100 years. Between 50 and 100 years. Less than 5 years. Between 10 and 50 years.

	What has been the trend of world income inequality over the last one and a half centuries?   Steadily increasing. It was falling until about 30 years ago, at which point it flattened out. It was rising until about 30 years ago, at which point it flattened out. Steadily decreasing.

	What is the most important factor for the future growth of rich countries?   Abundance of natural resources Technological progress Population growth Efficiency

	Was Keynes' prediction of the standard of living increasing by a factor of 4 to 8 from 1920-2030 correct?   No, but because of the Depression and World War II. No, but because people today have too much leisure. It is too soon to tell. Yes

	Is there any relationship between happiness and income within the U.S.?   Yes, income is the only determinant of happiness. No, there is no relationship between income and happiness. Yes, income is one of many factors of happiness. None of the above.

	According to Figure 17.2, which of the following countries has the highest level of happiness?   France U.S. Iceland Russia

	Which of the following factors will affect economic growth in the future? I. The future of the AIDS epidemic. II. Whether or not natural resources become too scarce. III. Whether or not globalization continues.   II only I, II and III I and III only II and III only

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