QUESTION 41Comparing predicted to historical resource prices,a.They are positively correlated as pre

QUESTION 41Comparing predicted to historical resource prices,a.They are positively correlated as predicted by theoryb.They are negatively correlated as predicted by theoryc.They are predicted to rise but fell historicallyd.They are predicted to fall but rose historically1 points QUESTION 42Suppose a country produced 100 units of a resource at an extraction cost of 1.50 per unit and sold at a price of 5.00 per unit. The value of exhausted resource isa.350b.400c.450d.5001 points QUESTION 43Geographic factor that is not conducive to economic growth includea.proximity to oceans or rivers that open to the seab.located close to rich countriesc.located near the equatord.all of the above1 points QUESTION 44Suppose a country produced 100 units of a resource at an extraction cost of 3.00 per unit and sold at a price of 5.00 per unit. GDP for this country was 500, Green GDP wasa.400b.350c.300d.2501 points QUESTION 45Because of __________ resource prices, Green GDP has been __________.a.rising; overestimatedb.falling; overestimatec.rising; underestimatedd.falling; underestimated1 points QUESTION 46Suppose that resource consumption is growing at 5% and the population is shrinking by 2%. What rate does resource intensity need to be growing at to allow for output per capita to grow at 2%?a.2%b.3%c.4%d.5%1 points QUESTION 47Resource curse means all of the following excepta.the abundance of natural resources leads to rent seeking activityb.the abundance of natural resources leads to government making poor policiesc.a country’s economic growth is limited by a lack of natural resourcesd.natural resources produce short-term benefits but long-term harme.all of the above1 points QUESTION 48Which of the following statements is true about the Dutch disease?a.It refers to a disease that originated from Holland that destroys tulipsb.It refers to the tendency of natural resource rich countries to over-consume and under invest in capitalc.It refers to how natural resource can come to dominate an economy at the expense of the development of other industriesd.It refers to how low transportation costs can reduce the advantage of resource-rich countries has over resource-poor countries1 points QUESTION 49According to your textbook, which of the following factors can limit economic growth?a.Lack of natural resourcesb.Geographically located near low cost transportation routesc.Geographically located in the temperate zonesd.None of the above1 points QUESTION 50In the boxed article “Guns, Germs, and Geography”, the early domination of Eurasia over the Americas, Australia, and sub-Saharan Africa was attributed to the following excepta.Eurasia’s huge landmassb.Eurasia’s geographic orientation along a east-west axisc.Eurasia’s developing early immunity to certain diseasesd.Eurasia’s huge technological leade.None of the above1 points QUESTION 51In “Will Growth Make Us Happy?”, which of the following empirical evidence is not true?a.People with average income of over $15000 reported to be twice as happy as people with average income below $15000b.Within a country, there is no relationship between average income and happinessc.The positive correlation between income and happiness is limited only to an income up to $15000d.People in rich countries tend to report themselves to be happier than people in poor countries1 points QUESTION 52The following statements about “Comparison utility” are all true excepta.It can explain why at a point in time, income and happiness are positively correlatedb.Is useful in explaining why there is no correlation between happiness and income overtime within a given countryc.It means that your happiness depends only on your incomed.It can explain why Mr. Keynes’s prediction that we would have an abundance of leisure time in the future did not come true1 points QUESTION 53In “Is Growth Good for the Poor?”, which of the following is not true?a.The poor is better off in a rich country with unequal distribution of income than in a less wealthy country but more equal distribution of incomeb.GDP per capita is more important than income inequality in determining the income of the poorc.The average income of the poor is higher in the country with more equal distribution of income than in the country with more unequal distribution of income when the two countries have the same GDP per capitad.All the above are true1 points QUESTION 54Globalization is especially important in the future for countries that area.Lacking in natural resourcesb.Located in climates that are not conducive to economic growthc.Lacking in technological knowhowd.developing countriese.all of the above1 points QUESTION 55The tragedy of the commons refers toa.The tendency to overuse renewable natural resourcesb.The tendency to overuse non-renewable natural resourcesc.The tendency to overexploit resources where there is no clear property rightsd.The fact that air pollution is a common problem faced by many countries1 points QUESTION 56Looking to the future, we can expecta.Technology to progress at the same pace as the recent pastb.Income inequality to continue to narrow between countries as more and more developing countries become developed countriesc.World population to stabilize in the next 50 yearsd.Globalization to continue at the current pacee.Nothing is guaranteed1 points QUESTION 57Which of the following statements about democracy is true?a.Democratic countries have the highest growth ratesb.Democracies tend to have stronger rule of law and therefore cannot be bad for economic growthc.The economist Robert Barro suggested that there is an optimal level of democracyd.All of the above1 points QUESTION 58You observe that the voting participation is consistently higher in Country A than in Country B. Based on this observation and assuming all else are equal, you can conclude which of the following to be true?a.Country A has a higher degree of social capital than Country Bb.Country B has a higher degree of social capital than Country Ac.Country A has a higher degree of social capability than Country Bd.Country B has a higher degree of social capability than Country A1 points QUESTION 59For the U.S. since WWII, income inequalitya.Has been risingb.Has been fallingc.Has been more or less flatd.Resembles an U-shape curve, falling initially and then risinge.Resembles an inverted U-shape curve, rising initially and then falling1 points QUESTION 60In “Government Regulation: Helping Hand or Grabbing Hand”, which of the following is true?a.Evidence suggests that government regulation is more a helping handb.Countries with more government regulations tend to have lower pollution, better and safer consumer productsc.Corrupt governments tend to have more regulations that benefit the citizensd.Democratic governments tend to have fewer regulations


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