Explain the reasons for the hidden momentum of population growth and state its implication for population levels
What will be an ideal response?
Even after a decline in birthrates to replacement levels, population growth continues because of a large young population that widens the potential parent base. Implication: population will not stabilize until after a couple of generations.
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In 1995–7, tax revenue as a percent of GDP
(a) was roughly equal between developing and developed countries. (b) was a few percentage points higher for developed than for developing countries. (c) was a few percentage points lower for developed than for developing countries. (d) was much higher (approximately double) for developed countries than for developing countries. (e) was much higher (approximately double) for developing countries than for developed countries.
One way the government can boost the economy out of a recession is:
A. with public announcements telling the public to save their money. B. by increasing government spending. C. by setting price ceilings on most goods so people can afford them. D. None of these will help an economy in recession.
In the United States, the largest expenditure component in GDP is
A) gross private domestic investment. B) government purchases of goods and services. C) consumption expenditures. D) net exports. E) none of the above
In 2011, which country had the highest level of GDP per hour of work?
A. Spain B. The United Kingdom C. France D. Japan