Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 25, Problem 1MCQ
To determine
To find:
If real GDP increases from $5 billion to $5.25 billion and the population increases from $2 million to $2.02 million, the value by which the real GDP per person would increase.
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Last year, real GDP per person was $4,200. The year before it was $4,000. By what percentage did real GDP per person grow during the period?
a. 200 percent
b. 10 percent
c. 5 percent
d. 50 percent.
For each part below, determine whether the following actions will increase or decrease productivity, and name the component of
productivity that each affects.
a. The local government builds a new school.
b. Teachers in the new school hold classes for young
students.
c. A manufacturer installs robots on its assembly line.
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e. A soda company discovers a new source of underground
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f. A professor writes a new and improved economics
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g. A large number of people have less access to health
care.
h. A worker receives on-the-job training to be a
mechanic.
Impact on productivity
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Component of
productivity
(Click to select)
Physical capital
Technology
Human capital
Natural resources
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Suppose a country's real GDP is $18 trillion and the population is 400 million.
Instructions: Enter your answers as a whole number.
a. What is this country's real GDP per capita?
b. Suppose that during the next 10 years, real GDP doubles and the population triples. At the end of this 10-year period, what will
be its real GDP per capita?
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Chapter 25 Solutions
Foundations of Economics (8th Edition)
Ch. 25 - Prob. 1SPPACh. 25 - Prob. 2SPPACh. 25 - Prob. 3SPPACh. 25 - Prob. 4SPPACh. 25 - Prob. 5SPPACh. 25 - Prob. 6SPPACh. 25 - Prob. 7SPPACh. 25 - Prob. 8SPPACh. 25 - Prob. 9SPPACh. 25 - Prob. 10SPPA
Ch. 25 - Prob. 11SPPACh. 25 - Prob. 12SPPACh. 25 - Prob. 1IAPACh. 25 - Prob. 2IAPACh. 25 - Prob. 3IAPACh. 25 - Prob. 4IAPACh. 25 - Prob. 5IAPACh. 25 - Prob. 6IAPACh. 25 - Prob. 7IAPACh. 25 - Prob. 8IAPACh. 25 - Prob. 9IAPACh. 25 - Prob. 10IAPACh. 25 - Prob. 1MCQCh. 25 - Prob. 2MCQCh. 25 - Prob. 3MCQCh. 25 - Prob. 4MCQCh. 25 - Prob. 5MCQCh. 25 - Prob. 6MCQCh. 25 - Prob. 7MCQCh. 25 - Prob. 8MCQ
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