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Copyright © 2008 Nelson Education Ltd. Principles of Macroeconomics 4 th Canadian Edition Mankiw, Kneebone & McKenzie Chapter 7 Turning Point Slides
Copyright © 2008 Nelson Education Ltd. Learning Objective #1 See how economic growth differs around the world
Copyright © 2008 Nelson Education Ltd. In the length of one generation, which of the following countries has gone from being among the poorest countries in the world to being among the richest? 1.Nigeria 2.Sudan 3.India 4.South Korea 10 Seconds Remaining
Copyright © 2008 Nelson Education Ltd. Of the following countries, which grew the slowest over the last 100 years? 1.Brazil. 2.Mexico. 3.Singapore. 4.United States. 10 Seconds Remaining
Copyright © 2008 Nelson Education Ltd. Learning Objective #2 Consider why productivity is the key determinant of a countrys standard of living
Copyright © 2008 Nelson Education Ltd. Which of the following is NOT correct? 1.Countries that have had higher output growth per person have typically not done so with higher productivity growth. 2.A country's standard of living and its productivity are closely related. 3.Increasing the amount produced per hour of work has led to higher wages for workers. 4.Increases in productivity can be used to increase output or leisure. 10 Seconds Remaining
Copyright © 2008 Nelson Education Ltd. The primary reason that Canadian living standards are higher today than they were a century ago is that … 1.more productive natural resources have been discovered. 2.physical capital per worker has increased. 3.technological knowledge has increased. 4.human capital has increased. 10 Seconds Remaining
Copyright © 2008 Nelson Education Ltd. Learning Objective #3 Analyze the factors that determine a countrys productivity
Copyright © 2008 Nelson Education Ltd. Which of the following would increase productivity? 1.an increase in the physical capital stock per worker 2.an increase in human capital per worker 3.an increase in natural resources per worker 4.All of the above are correct. 10 Seconds Remaining
Copyright © 2008 Nelson Education Ltd. On average, each year of schooling raises a person's wage in Canada by about 10 Seconds Remaining 1.3 percent. 2.10 percent. 3.15 percent. 4.25 percent.
Copyright © 2008 Nelson Education Ltd. Learning Objective #4 Examine how a countrys policies influence its productivity growth
Copyright © 2008 Nelson Education Ltd. A government can encourage growth and, in the long run, raise the economy's standard of living by encouraging 1.population growth. 2.consumption spending. 3.saving and investment. 4.trade restrictions. 10 Seconds Remaining
Copyright © 2008 Nelson Education Ltd. Many countries in Africa have low growth rates. This is partly due to 1.few natural resources. 2.high trade barriers. 3.low incomes, making it very difficult for them to grow. 4.All of the above are correct. 10 Seconds Remaining
u A countrys standard of living depends on its ability to produce goods and services. u Within a country there are large changes in the standard of living.
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