Economic Growth
Between 2008 and 2009, the US economy ______ Between 2008 and 2009, GDP changed by about _______ Between 2008 and 2009, the unemployment rate changed by about _______
- Shrank - -3.0% - 1.5%
Which statements about countries with lower GDP and lowest HDI scores are accurate? Check all that apply.
- The countries with the lowest HDI scores are all located in Africa. - The countries with the lowest HDI scores do not have the lowest GDP. - Small island nations often have the lowest GDP, but not necessarily low HDI scores.
Robert just found out that he is going to be unemployed within a month because his factory has invested in a robotic factory line and his skills are no longer needed. This means that Robert is ______ The GDP within Country D has begun to decline. As a result of decreased production, Thomas lost his job designing cars. This means that Thomas is _______ Raquel has just been offered a job, but she has decided not to take it because she feels her skills merit better pay and a better position. This means that Raquel is _______
- structurally unemployed - Cyclically unemployed - Frictionally unemployed
This graph shows changes in GDP and the unemployment rate in the United States in recent years. In what year would someone looking for work have had the hardest time finding a job?
2009
Based on the data for China, what conclusion can be made about the relationship between GDP and human development?
A high GDP does not guarantee a high standard of living.
What do the graphs tell you about Bolivia's labor force?
About 1/3rd of Bolivians work in agriculture
This graph shows merchandise export data for the years 2010 through 2012. Which statement most accurately describes the information presented on the graph?
China exported more goods than the United States from 2010 to 2012.
Use the graphs to answer the question. Which sector of Germany's economy had the highest GDP compared to its labor force?
Industry
Use the graphs to answer the question. Which sector uses labor most efficiently?
Industry
How did the contribution of the goods-producing sector to GDP growth change between 2010 and 2011?
It fell by 2.3%.
These circle graphs show information about Bolivia's workforce and GDP. What do the graphs indicate about Bolivia's labor force?
Most people in Bolivia work in agriculture.
The map shows GDP per capita in the United States for a given year. What conclusion can someone draw from the map?
States with the lowest per capita GDP tend to be in the South.
Despite having the highest overall GDP, the US ranks fifth for productivity when considering the GDP per hour worked. What contributes to this discrepancy?
The US has the longest average work week among the top 10 countries.
The graph shows unemployment rates in the United States in recent years. Which statement is the most accurate explanation of the information on the graph?
The United States suffered an economic downturn starting in 2009.
Go to this link to find out more about Bolivia's economy to answer the question. Use the information and the graphs to write two sentences about how Bolivia's labor force by occupation compares to its GDP by sector. Why might the percentages differ?
The percentage of workers in agriculture is higher than the GDP percentage. This could be because industry and service workers contribute more to output on average.
The graph shows data for the years 2010 through 2012. Which might be a better title for this graph?
Total Exports for the United States and China
How is Country M planning on encouraging economic growth?
by investing in education to reduce unemployment and increase production
When economists determine that a nation's GDP has declined, they can point to this as a sign of
economic shrinkage.
To help encourage economic growth, a country can...
invest in research and development.
What do the graphs tell you about Germany's labor force?
many people in Germany work in services
Economic growth takes place when a country
produces more goods and services.
Economists use gross national product (GNP) to measure
the output of a nation's citizens, regardless of where they are.
Which countries are in the top 10 of both human development and productivity indexes? Check all that apply.
- Norway - Germany - Denmark - United States - Netherlands - Ireland
According to the website, Bolivia is one of the _____ nations in Latin America. Bolivia's GDP per capita in 2012 was _______. The unemployment rate in Bolivia during 2012 was ______.
- Poorest - $5,000 - 5.5%
A normal unemployment rate in the US is considered to be around 5%. According to the graph, in what years was the unemployment rate nearest to this average? _______ According to the graph, in what years did the US unemployment rate rise most steeply? _______ According to the graph, individuals would have the most difficult time finding employment during which year? ________
- 2006 through 2008 - 2009-2010 - 2010
____ and ______ have almost an equal number of their populations employed, working almost the same number of hours in a work week. Yet, ________ is more productive overall.
- Denmark - Norway - Luxembourg
According to the information on the website, Germany is the _______largest economy in the world and the _______ in Europe. In 2012, Germany's GDP per capita was ______. In 2012, Germany's unemployment rate was ______.
- Fifth - Largest - $39,100 - 6.5%
Which countries have high productivity, but are not among the top 10 for human development? Check all that apply.
- France - Belgium - Luxembourg
