Geog quiz 3

the geometric mean annual growth rate of the above economy from 1985 to 2010 was:

Between 2005 and 2010, how much did the economy slow compared to the average rate of the growth from 1985 - 2010

which of the following statements about scarcity is true?

Match the (national debt/ GDP) % values with the appropriate countries: Greece

The cost of a given good service is what you pay for it

Economic decisions never involve trade -offs because desired resources are by definition available

About how long will it take for the above economy to double its GDP?

The acronym PPP stands for:

What does the figure below suggest about global change in the 21st Century?

per capita GDP is:

Match the (national debt/ GDP) % values with the appropriate countries: Russia

Economic growth for 2012 is forecast to be greatest in:

Economics is:

trade is good because it results in net benefits to both buyer and seller

Which of the following statements is/are false?

In 2012, both Advanced and emerging Economies are best classified as:

Prices rise when there is too much inflation

which of the following are the opportunity costs of attending school?
(1) poor examination results, (2) income forgone, (3) school fees, (4) Expenditure on dinners

Optimal consumers think at the margins

The country with the largest foreign currency reserves per GDP in 2012 is:

Match the (national debt/ GDP) % values with the appropriate countries: China

Competition and expanded markets work increase market efficiency (lower cost and higher consumption)

Unemployment falls when inflation increases, but this may be a short term "lag" effect. In the long term, wages will increase to accommodate inflation and employment will decline because of the increased cost of labor

Consumers and suppliers are guided in their decisions by concern for the greatest goods

in 2010 employed Canadians spent about 36.2 hours per week working. In which country did employed workers work more hours per week than Canadian workers?

A nation's standard of living depends on its efficiency

Match the (national debt/ GDP) % values with the appropriate countries: Japan

Canada's national debt as a proportion of its GDP is at an all-time high

The nation or collection of nations in control of the world's reserve currency is:

Which of the following statements is/are true?

Societies that do not have scarce resources are termed

If 100 kg of flour costs 150 Yuan in China and 100 dollars in the US, what is the exchange rate in US dollars per Yuan?

Mary has accumulated 20 coupons. What is the opportunity cost to her if she uses them to exchange for one camera?

Monetary policy referred to as "quantitative easing" involves

What is the statistic associated with the figure below called?

Match the (national debt/ GDP) % values with the appropriate countries: Canada

Adam Smith's "invisible hand" is the effect of government in increasing the efficiency of free markets

Net debt (Gross Debt - Funds in reserve for commitments (e.g., pensions)) to GDP ratios for ontario and Canada:

T/F Canada's national debt is at an all-time high

The best measure of economic growth is:

Miss cheng could spend two hours at a concert or tutoring a student at $70 per hour. She could use the time on painting instead and earn a total of $170. If the price of the concert ticket is $ 250, what is the opportunity cost of her choice of going to the concert?