$02$:$21$:$25$

Time Remaining

$1$

Multiple Choice

$1$ point

Factors contributing to differences in countries' growth rates do NOT include:

the amount of physical capital available.

a lack of spending on infrastructure.

differences in savings and investment rates.

adherence to the rule of $70.$

$2$

Multiple Choice

$1$ point

Which factor contributes to economic development?

investment in infrastructure

a command economy

a low saving and investment rate

the absence of any governmental involvement in the economy

$3$

Multiple Choice $1$ point

The MOST important use of GDP is as a measure of:

the size of the economy.

changes in the price level.

rates of return in financial markets.

the level of unemployment.

$4$

Multiple Choice $1$ point

An increase in the value of nominal GDP over time:

is always due to an increase in prices.

may be due to an increase in prices, in the production of goods and services, or both.

is always due to an increase in the production of goods and services.

may be due to a decrease in prices, in the production of goods and services, or both.

$5$

Multiple Choice

$1$ point