In the measure of the wealth of nations, the World Bank: Question 1 options: Bas

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In the measure of the wealth of nations, the World Bank: Question 1 options: Basically uses current production of goods and services as a measure of a nation's wealth. Emphasizes the development of natural resources to provide for current consumption of goods and services. Finds that the vast majority of the world's wealthiest countries have little human (capital) resources. Subtracts the development natural resources from a nation's wealth. In the measure of the wealth of nations, the World Bank: In the measure of the wealth of nations, the World Bank: Basically uses current production of goods and services as a measure of a nation's wealth. Emphasizes the development of natural resources to provide for current consumption of goods and services. Finds that the vast majority of the world's wealthiest countries have little human (capital) resources. Subtracts the development natural resources from a nation's wealth. Basically uses current production of goods and services as a measure of a nation's wealth. Emphasizes the development of natural resources to provide for current consumption of goods and services. Finds that the vast majority of the world's wealthiest countries have little human (capital) resources. Subtracts the development natural resources from a nation's wealth. To promote what is know as "genuine savings", the World Bank emphasizes: Question 2 options: That governments devote a greater portion of their expenditures to the development of education and national infrastructure. For governments to reduce fertility rates in the population. That government spending only be used for national defense, and combined with tax cuts, private consumption is encouraged. That governments rapidly develop their natural resources to increase the wealth of the population. To promote what is know as "genuine savings", the World Bank emphasizes: To promote what is know as "genuine savings", the World Bank emphasizes: That governments devote a greater portion of their expenditures to the development of education and national infrastructure. For governments to reduce fertility rates in the population. That government spending only be used for national defense, and combined with tax cuts, private consumption is encouraged. That governments rapidly develop their natural resources to increase the wealth of the population. That governments devote a greater portion of their expenditures to the development of education and national infrastructure. For governments to reduce fertility rates in the population. That government spending only be used for national defense, and combined with tax cuts, private consumption is encouraged. That governments rapidly develop their natural resources to increase the wealth of the population. Rent-seeking behavior: Question 3 options: Describes how corporations issue new stock. Is exhibited by governments that seek to maximize revenues by developing natural resources. Describes the tendency for governments to shrink in size over time. Refers to landlords who never return the deposits of their renters. Rent-seeking behavior: Rent-seeking behavior: Describes how corporations issue new stock. Is exhibited by governments that seek to maximize revenues by developing natural resources. Describes the tendency for governments to shrink in size over time. Refers to landlords who never return the deposits of their renters. Describes how corporations issue new stock. Is exhibited by governments that seek to maximize revenues by developing natural resources. Describes the tendency for governments to shrink in size over time. Refers to landlords who never return the deposits of their renters. The country of Angola was used to give an example of: Question 4 options: How inaccurate forecasts lead to excessive spending prior to the realization of export revenues. How rent-seeking behavior of political leaders leads them to warfare to control a vital resource. How high tariffs inhibit trade and as a result, a contraction of trade and domestic output. How a trade surplus results in the appreciation of the domestic currency and consequently, to lower prices for imported goods. The country of Angola was used to give an example of: The country of Angola was used to give an example of: How inaccurate forecasts lead to excessive spending prior to the realization of export revenues. How rent-seeking behavior of political leaders leads them to warfare to control a vital resource. How high tariffs inhibit trade and as a result, a contraction of trade and domestic output. How a trade surplus results in the appreciation of the domestic currency and consequently, to lower prices for imported goods. How inaccurate forecasts lead to excessive spending prior to the realization of export revenues. How rent-seeking behavior of political leaders leads them to warfare to control a vital resource. How high tariffs inhibit trade and as a result, a contraction of trade and domestic output. How a trade surplus results in the appreciation of the domestic currency and consequently, to lower prices for imported goods. A trade deficit is indicated by: Question 5 options: Positive net exports. Negative private investment. Positive private investment. Negative net exports. A trade deficit is indicated by: A trade deficit is indicated by: Positive net exports. Negative private investment. Positive private investment. Negative net exports. Positive net exports. Negative private investment. Positive private investment. Negative net exports. Goods that are produced domestically but sold abroad are: Question 6 options: Imports. Investment. Exports. Capital Goods that are produced domestically but sold abroad are: Goods that are produced domestically but sold abroad are: Imports. Investment. Exports. Capital Imports. Investment. Exports. Capital Investment spending represents the purchase of: Question 7 options: Stocks Mutual Funds Physical Capital Corporate Bonds Investment spending represents the purchase of: Investment spending represents the purchase of: Stocks Mutual Funds Physical Capital Corporate Bonds Stocks Mutual Funds Physical Capital Corporate Bonds Inventories are a part of: Question 8 options: Consumption. Investment. Net Exports Government Spending Inventories are a part of: Inventories are a part of: Consumption. Investment. Net Exports Government Spending Consumption. Investment. Net Exports Government Spending Which of the following purchases would not be counted in Consumption as part of GDP: Question 9 options: A visit with the dentist. Purchase of a local newspaper. Purchase of a Big Mac Purchase of a television produced abroad. Which of the following purchases would not be counted in Consumption as part of GDP: Which of the following purchases would not be counted in Consumption as part of GDP: A visit with the dentist. Purchase of a local newspaper. Purchase of a Big Mac Purchase of a television produced abroad. A visit with the dentist. Purchase of a local newspaper. Purchase of a Big Mac Purchase of a television produced abroad. Which of the following would not be counted in the calculation of GDP (there are two correct answers - you should select both for full credit): Question 10 options: The export of a car that is sold to a consumer in Mexico. The purchase of a new computer by a local firm. The purchase of a used car from a neighbor. Time spent working with your child on his homework. Which of the following would not be counted in the calculation of GDP (there are two correct answers - you should select both for full credit): Which of the following would not be counted in the calculation of GDP (there are two correct answers - you should select both for full credit): The export of a car that is sold to a consumer in Mexico. The purchase of a new computer by a local firm. The purchase of a used car from a neighbor. Time spent working with your child on his homework. The export of a car that is sold to a consumer in Mexico. The purchase of a new computer by a local firm. The purchase of a used car from a neighbor. Time spent working with your child on his homework. If nominal GDP growth is positive but the growth rate of real GDP is negative, this indicates that: Question 11 options: The the growth rate of real GDP is greater than the growth rate of nominal GDP. As a result, real GDP will become positive. The growth rate of nominal GDP is greater than the inflation rate. The inflation rate is greater that the growth rate of nominal GDP. If nominal GDP growth is positive but the growth rate of real GDP is negative, this indicates that: If nominal GDP growth is positive but the growth rate of real GDP is negative, this indicates that: The the growth rate of real GDP is greater than the growth rate of nominal GDP. As a result, real GDP will become positive. The growth rate of nominal GDP is greater than the inflation rate. The inflation rate is greater that the growth rate of nominal GDP. The the growth rate of real GDP is greater than the growth rate of nominal GDP. As a result, real GDP will become positive. The growth rate of nominal GDP is greater than the inflation rate. The inflation rate is greater that the growth rate of nominal GDP. Basically uses current production of goods and services as a measure of a nation's wealth. Emphasizes the development of natural resources to provide for current consumption of goods and services. Finds that the vast majority of the world's wealthiest countries have little human (capital) resources. Subtracts the development natural resources from a nation's wealth.

Explanation / Answer

1. In the measure of the wealth of nations, the World Bank subtracts the development natural resources from a nation's wealth.

2. To promote what is known as "genuine savings", the World Bank emphasizes that the governments devote a greater portion of their expenditures to the development of education and national infrastructure..

3. Rent-seeking behavior is exhibited by governments that seek to maximize revenues by developing natural resources.

4. The country of Angola was used to give an example of how rent-seeking behavior of political leaders leads them to warfare to control a vital resource.

5. A trade deficit is indicated by negative net exports.

6. Goods that are produced domestically but sold abroad are exports.

7. Investment spending represents the purchase of physical capital.

8. Inventories are a part of investment.

9. Purchase of a television produced abroad.

10. The purchase of a used car from a neighbor (since there is no calue added there) and time spent working with your child on his homework (since such activities are very difficult to measure).

11. If nominal GDP growth is positive but the growth rate of real GDP is negative, this indicates that the inflation rate is greater that the growth rate of nominal GDP.

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