101.ThedictatorofTuranhasrecentlybeguntoarbitrarilyseizefarmsbelongingtohispoliticalopponents,andhehasgiventhefarmstohisfriends.Hisfriendsdon’tknowmuchaboutfarming.ThecourtsinTuranhaveruledthattheseizuresareillegal,butthedictatorhasignoredtherulings.Otherthingsequal,wewouldexpectthatthegrowthrateinTuranwill
a.falltemporarily,butwillreturntowhereitwaswhenthenewownerslearnhowtofarm.
b.increasebecausethetotalamountofhumancapitalinthecountrywillincreaseasthenewownerslearnhowtofarm.
c.fallandremainlowerforalongtime.
d.notbeaffectedunlesswidespreadcivildisorderorcivilwarresults.
102.Thedictatorofacountryrequiresthatcompaniesplanningtoopenorexpandmustpayalargefeetofileanapplicationoneyearpriortobuildingnewfactoriesorexpandingexistingones.Otherthingsthesame,inthelongrunthisrequirementwould
a.reducerealGDPperpersonandproductivity.
b.reducerealGDPperpersonbutnotproductivity.
c.reduceproductivitybutnotrealGDPperperson.
d.Noneoftheaboveiscorrect.
103.SupposethatanewgovernmentiselectedinEurnesia.Thenewgovernmenttakesstepstowardimprovingthecourtsystemandreducinggovernmentcorruption.ThecitizensofEurnesiafindtheseeffortscredibleandoutsidersbelievethesechangeswillbeeffectiveandlonglasting.Thesechangeswillprobably
a.raiserealGDPperpersonandproductivityinEurnesia.
b.raiserealGDPperpersonbutnotproductivityinEurnesia.
c.raiseproductivitybutnotrealGDPperpersoninEurnesia.
d.raiseneitherproductivitynorrealGDPperpersoninEurnesia.
104.Ifanewlyelectedgovernmenttakesactionsthatmakesitscountry’scourtsmoreefficientandlesscorrupt,then
a.producerswillhavegreaterconfidencethattheywillbenefitfromtheirefforts.
b.producersarelikelytobemorespecialized.
c.buyersandsellerswillbemorelikelytohonorcontracts.
d.Alloftheabovearecorrect.
105.Inward-orientedpolicies
a.includeimposingtariffsandothertraderestrictions.
b.havegenerallyincreasedproductivityandgrowthinthecountriesthatpursuedthem.
c.promotetheproductionofgoodsandservicesthatthecountryproducesmostefficiently.
d.Alloftheabovearecorrect.
106.Inward-orientedpolicies
a.aregenerallysupportedbyeconomists.
b.areprimarilyconcernedwiththedevelopmentofhumancapital.
c.insomewaysarelikeprohibitingtheuseofcertaintechnologies.
d.Alloftheabovearecorrect.
107.Whichofthefollowingwillincreaseacountry’srealGDPperperson?
a.imposingrestrictionsonforeigntradeandforeigninvestment
b.imposingrestrictionsonforeigntradeandreducingrestrictionsonforeigninvestment
c.reducingrestrictionsonforeigntradeandimposingrestrictionsonforeigninvestment
d.reducingrestrictionsonforeigntradeandforeigninvestment
108.AnincreaseincapitalwillincreaserealGDPperperson
a.moreinapoorcountrythanarichcountry.TheincreaseinrealGDPperpersonwillbelargeriftheadditiontocapitalisfromdomesticratherthanforeigninvestment.
b.moreinapoorcountrythanarichcountry.TheincreaseinrealGDPperpersonwillbethesamewhethertheadditiontocapitalisfromdomesticorforeigninvestment.
c.lessinapoorcountrythanarichcountry.TheincreaseinrealGDPperpersonwillbelargeriftheadditiontocapitalisfromdomesticratherthanforeigninvestment.
d.lessinapoorcountrythanarichcountry.TheincreaseinrealGDPperpersonwillbethesamewhethertheadditiontocapitalisfromdomesticorforeigninvestment.
109.AnincreaseincapitalwillincreaserealGNPperperson
a.moreinapoorcountrythanarichcountry.TheincreaseinrealGNPperpersonwillbelargeriftheadditiontocapitalisfromdomesticratherthanforeigninvestment.
b.moreinapoorcountrythanarichcountry.TheincreaseinrealGNPperpersonwillbelargeriftheadditiontocapitalisforeignratherthanfromdomesticinvestment.
c.lessinapoorcountrythanarichcountry.TheincreaseinrealGNPperpersonwillbelargeriftheadditiontocapitalisfromdomesticratherthanforeigninvestment.
d.lessinapoorcountrythanarichcountry.TheincreaseinrealGNPperpersonwillbelargeriftheadditiontocapitalisforeignratherthanfromdomesticinvestment.
110.Countriesthatpursuedoutward-orientedpoliciesinthe20thcentury
a.experiencedlowerratesofeconomicgrowththandidcountriesthatpursuedinward-orientedpolicies.
b.experiencedhigherlevelsofpoliticalinstabilitythandidcountriesthatpursuedinward-orientedpolicies.
c.includeSingapore,SouthKorea,andTaiwan.
d.Alloftheabovearecorrect.
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