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21) Which one of the following is a key to economic development?

A) the removal of property rights

B) the preservation of established means of production

C) an educated population

D) a high level of protection against imported products

22) The study of development economics is to understand

A) why some products are successful in the market as soon as they are developed, whereas others do not catch on for years.

B) why most of the patents on record have been given to men rather than to women.

C) why some countries are rich and others are poor.

D) the personality factors that lead people to become entrepreneurs.

23) Which one of the following is true?

A) As a country becomes more prosperous, it experiences a higher birth rate.

B) Over the past century, the supply of food has grown more quickly than has the demand for food.

C) Over the past century, the real price of food has risen, reflecting the pressure of population growth on food supplies.

D) Over the next half-century, it is expected that population growth in industrially advanced nations will outpace population growth in developing countries.

24) Which one of the following describes the current state of economic development in the United States?

A) The United States is running out of natural resources, and therefore it will soon experience a drop in the rate of economic growth.

B) Employment is declining in the manufacturing sector and growing in the service sector.

C) Employment is declining in the manufacturing sector and growing in the agricultural sector.

D) The lack of well-defined property rights in the United States means that entrepreneurs do not expect to capture the benefits of innovations they bring to the marketplace.

25) Which one of the following is true?

A) Investments in secondary education produce gains in the form of economic growth.

B) Secondary education does not boost economic growth in developing nations, because so much of the workforce remains in agriculture.

C) New growth theory suggests that there is no connection between the level of education in a country and its rate of economic growth.

D) New growth theory suggests that education benefits only those people who receive it, and not the population as a whole.

26) Which one of the following is true?

A) For every country that experiences an increase in its growth rate, there must be another experiencing a decline.

B) Small changes in the annual growth rate amount to a measurable difference in the long-term growth trend of a country.

C) Restricting imports will enhance a country's economic growth.

D) A well-defined system of property rights benefits only the wealthy, and consequently it produces income inequality that will stifle economic growth.

27) What can be expected to happen in a country that enacts trade barriers?

A) The rate of immigration will increase.

B) The rate of technological innovation will increase.

C) The rate of economic growth will decrease.

D) The rate of population growth will decrease.

28) Which of the following is NOT an obstacle to economic development?

A) lack of entrepreneurship

B) political instability

C) corruption

D) a central bank

29) Which of the following is an obstacle to economic development?

A) poorly defined property rights

B) foreign direct investment

C) immigration

D) openness to trade

30) A good estimate of the world's population that lives on less than an inflation-adjusted$1.5 per day is

A) 20 percent.

B) 40 percent.

C) 50 percent.

D) 80 percent.

 

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