Oxford University Press - Online Resource Centres

King: Economics

Chapter 25

Instructions

Answer the following questions and then press 'Submit' to get your score.

Question 1

Which of the following statements is false?

Question 2

Suppose GDP was constant over a period of years and yet living standards increased. Which of the following might not be a reason for this?

Question 3

Which of the following statements is false?

Question 4

In the basic neoclassical growth model, where does equilibrium occur?

Question 5

Suppose the proportion of the population in the workforce increases while everything else stays the same. According to the neoclassical growth model, which of the following statements is false?

Question 6

According to the neoclassical growth model, which of the following statements is false?

Question 7

In the past 50 years, the world's population has more than doubled. Which of the following has also occurred?

1. Most people have been left on subsistence incomes, as predicted by Matlhus.
2. The prices of most natural resources have risen greatly in relation to average wages.

Question 8

There are many reasons why a poor country may fail to catch up with a rich neighbour. Which of the following is not one of these reasons?

Question 9

Which of the following statements is true?

1. If output per head is proportional to the number of ideas had in the past, then a constant rate of growth requires ever rising numbers of new ideas each year.
2. World population growth is a potential source of new ideas.

Question 10

Which of the following statements about y=Ak growth models is false?