Question : 51) year Iceland has a real GDP per person that : 1238574

51) This year Iceland has a real GDP per person that is approximately 8 times greater than that of Cape Verde. Cape Verde’s growth rate of real GDP per person was 5.2 percent. If Cape Verde maintains this current growth rate, approximately how many years will it take for Cape Verde’s real GDP per person to reach the same level that Iceland has this year?

A) 13.5 years

B) 20 years

C) 27 years

D) 40 years

E) 54 years

52) If it took 20 years for real GDP to double, what was the growth rate of real GDP?

A) 4.5 percent

B) 3.0 percent

C) 3.5 percent

D) 4 percent

E) 5 percent

53) In this year, Country A has a real GDP per person that is 4 times greater than that of Country B. Country B’s growth rate of real GDP per person is 3.5 percent per year. How many years will it take for Country B’s real GDP per person to reach the same level that Country A had in this year?

A) 10 years

B) 20 years

C) 40 years

D) 60 years

E) 56 years

54) Suppose Mexico’s real GDP per person in 2008 is $6,000 and the U.S. real GDP per person is $24,000. Mexico has annual growth in real GDP per person of 5 percent. Approximately how many years will it take Mexico to equal $24,000 of real GDP per person?

A) 14 years

B) 18 years

C) 28 years

D) 36 years

E) 40 years

55) Over the past 110 years, real GDP per person in the United States has grown at an average rate of about ________ per year.

A) 1 percent

B) 2 percent

C) 5 percent

D) 10 percent

E) 7.5 percent

56) For the world, what period of time experienced the fastest growth rate of real GDP per person?

A) around 500 B.C.

B) around 400 A.D.

C) between 1000 A.D. and 1500 A.D.

D) after about 1850 A.D.

E) between 1500 A.D. and 1850 A.D.

57) Real GDP per person averaged $150 a year (in 2009 dollars) from 1,000,000 BC until 1620. During this time there was a period when it rose to ________ around ________ because ________.

A) $210; 1620; the Pilgrim Fathers began to arrive in the Americas

B) $210; 1492; Columbus sailed to the Americas

C) $140; 400 BC; the Roman Empire collapsed

D) $190; 500 BC; of the gains from human capital while Aristotle and Plato were teaching in Athens

E) a 1-million year high; the 1340s; the Black Death gripped Europe

58) Real GDP per person averaged $150 a year (in 2009 dollars) from 1,000,000 BC until 1620. Then in ________ real GDP began to increase without limit and by 1850 had risen to twice its 1650 level because ________.

A) 1650; the Pilgrims arrived in the Americas

B) 1750; Columbus arrived in the Americas

C) 1650; of the Industrial Revolution

D) 1750; of the Industrial Revolution

E) 1776; United States was founded

59) Since the beginning of the 20th century the decade with the slowest real GDP per person growth rate other than the 1930s is ________ because of the ________.

A) 2000-2010; the war on terror

B) 1990-2000; fear of Y2K

C) 1930-1940; Great Depression

D) 2000-2010; 2008/2009 deep recession

E) 2010-2020; Keynesian economic policies being used more frequently than in the 1930s

60) The economic growth rate is measured as the

A) annual percentage change of real GDP.

B) annual percentage change of employment.

C) amount of real GDP.

D) annual percentage change of the population.

E) amount of population.