Question : 31) During 2008, Swaziland had a real GDP growth rate : 1238572

31) During 2008, Swaziland had a real GDP growth rate of 1.8 percent and a real GDP growth rate per person of -1.3 percent. These rates indicate that in Swaziland

A) there was an error when calculating the growth rates because the growth rate of real GDP per person cannot be negative.

B) the population growth rate was negative.

C) the population grew at a faster rate than real GDP.

D) poverty levels are declining.

E) real GDP grew more rapidly than did the population.

32) In India last year, the growth rate of real GDP was 3.5 percent and the population grew from 1,000 million people to 1,100 million. Real GDP per person

A) increased by 13.5 percent.

B) decreased by 6.5 percent.

C) increased by 6.5 percent.

D) decreased by 13.5 percent.

E) increased by 3.5 percent.

33) Belgium’s real GDP per person is $33,000 and Austria’s is $34,700. The population growth rate in Belgium is 0.13 percent and the growth rate of real GDP is 3.0 percent. The population growth rate in Austria is 0.08 percent and the growth rate of real GDP is 3.3 percent. If these growth rates continue, how many years will it take for Belgium’s real GDP per person to equal Austria’s real GDP per person?

A) Belgium’s standard of living will never equal Austria’s.

B) just over 23 years

C) just over 24 years

D) just over 21 years

E) over 230 years

34) If Country A’s real GDP is growing at 6 percent per year and Country B’s real GDP is growing at 6 percent per year, then the standard of living is

A) growing more rapidly in Country A.

B) higher in Country B.

C) changing at the same rate in Country A and Country B.

D) growing more slowly in Country A.

E) changing at the same rate in Country A and Country B only if the rate of population growth is the same in both countries.

35) If Country A’s real GDP per person is growing at 6 percent and Country B’s real GDP per person is growing at 3 percent, then

A) the standard of living is higher in Country A.

B) the standard of living is higher in Country B.

C) the standard of living is growing more rapidly in Country A.

D) We cannot say whose standard of living is growing more rapidly without knowing the population growth rate.

E) We cannot say whose standard of living is growing more rapidly without knowing the growth rate of real GDP.

36) According to the data in the table above,

A) the standard of living improved between year 1 and year 2.

B) the standard of living worsened between year 1 and year 2.

C) as measured by real GDP per person, the standard of living remained the same between year 1 and year 2.

D) real GDP grew more rapidly than population between year 1 and year 2.

E) real GDP grew more slowly than population between year 1 and year 2.

37) According to the data in the table above, real GDP grew at a rate of ________ between year 1 and year 2.

A) 10 percent

B) 1 percent

C) 50 percent

D) 5 percent

E) 55 percent

38) According to the data in the table above, real GDP per person grew at a rate of ________ between year 1 and year 2.

A) 10 percent

B) 0 percent

C) 1 percent

D) 5 percent

E) 50 percent

39) The Rule of ________ can be used to calculate the number of years that it takes for the level of a variable to ________.

A) 20; double

B) 70; triple

C) 70; double

D) 20; triple

E) thumb; double

40) The Rule of 70 states that the level of a variable will double in

A) 70 years.

B) the number of years equal to the variable’s annual rate of growth divided by 70.

C) the number of years equal to 70 divided by the variable’s annual growth rate.

D) the number of years equal to the variable’s annual growth rate minus 70.

E) the number of years equal to 70 multiplied by the variable’s annual growth rate expressed as a decimal.