57 Questions
Which of the following best describes the trend in Total Factor Productivity (TFP) since the early 1980s?
It has been stagnating
What is the main reason for the reduction in the rate of growth of labour productivity according to the Solow analysis?
Lower technical progress
What is the most relevant problem that European economies face in terms of their long-run growth?
Reduction in the rate of technological progress
Which of the following is NOT a suggested factor to explain productivity slowdown according to the text?
Increasing globalization
What is mismeasurement in the context of productivity slowdown?
A perception that official statistics underestimate economic activity
Which of the following is NOT an argument for slowing innovation according to the text?
Technological progress behind productivity growth over the past two centuries may not continue at the same pace in the future
What is slowing technological diffusion in the context of productivity slowdown?
A reduction in the rate of diffusion of innovation to other companies
What has been the trend in global productivity frontier according to the text?
Solid growth
Which of the following is NOT a potential factor to explain productivity slowdown according to the text?
Increasing globalization
What is the purpose of using quarter-on-quarter growth rates in identifying short-term fluctuations in the economy?
To identify recessions and expansion periods
What is the demographic factor in the identity used to explain long-term growth?
Population aged 16-64 years old/Population
What is the contribution of labour productivity growth to real per capita income growth in the EU27?
Almost 70%
Which of the following is true regarding the Human Development Index (HDI)?
Countries with HDI score above 0.80 are classified as having high human development
What is the HDI of Wonderland based on the information provided in the text?
0.954
Which of the following EU countries has the highest GNI per capita according to the text?
Ireland
What is the Index of Human Development (HDI)?
A measure of the geometric mean of health, education, and income
How is the index for income calculated in the HDI?
By evaluating per capita GNI in natural logarithms
Which of the following is NOT one of the three dimensions used to calculate the Human Development Index (HDI)?
Having a strong economy (GDP)
What is the objective of the Human Development Index (HDI)?
To measure a country's capabilities and living quality
What is the average life expectancy at birth in the EU27 countries according to the text?
79.4 years
How is the education dimension of the Human Development Index (HDI) measured?
By the expected years of schooling for children of school entering age
What is the HDI of the EU country with the lowest human development level according to the text?
0.518
Which of the following countries accounts for the largest share of GDP in the EU27?
Germany
What is the primary factor used to measure short-term growth in the EU?
Chain linked volumes
What is the difference between compensation of employees (domestic) and compensation of employees (national)?
Compensation of employees (domestic) is received by resident employees, while compensation of employees (national) is paid by resident employers
Which of the following is true about net taxes on products and production?
Net taxes on production and imports allow conversion from factor cost to market prices
What is the difference between economic variable expressed in nominal terms and economic variable expressed in real terms?
Real terms consider inflation, nominal terms do not
What is the role of the rest of the world account in national accounts?
It groups all external transactions of the economy with non-resident units
What is the formula for measuring GDP at market prices (purchasers' prices)?
GDPmp = FCE + GKF + X – M
What is the difference between GDPmp and GDPfc?
GDPmp measures domestic and external demand satisfied with domestic production, while GDPfc measures gross value added at factor cost
What is the difference between basic prices and purchasers' prices?
Basic prices are prices faced by producers, while purchasers' prices are prices faced by final consumers
Which of the following is NOT a suggested factor to explain productivity slowdown according to the text?
Increasing competition
What is mismeasurement in the context of productivity slowdown?
The official statistics underestimate economic activity
What has been the trend in Total Factor Productivity (TFP) since the early 1980s?
Stagnation
What is the main reason for the reduction in the rate of growth of labour productivity according to the Solow analysis?
Lower technical progress
What has the OECD highlighted as a possibility for slower productivity growth?
Slowing technological diffusion
What are the two arguments for slowing innovation according to the text?
The ICT revolution is already quite mature, and future progress is likely to be slower; the official statistics underestimate economic activity
What is the purpose of the NAMQ_10_GDP dataset?
To track GDP fluctuations in the EU
What is the most recent quarter shown in the NAMQ_10_GDP dataset?
2022-Q2
What is the difference between GDP at market prices and GDP at factor cost?
GDP at market prices includes indirect taxes and subsidies, while GDP at factor cost does not
What is the primary factor used to measure long-term growth in the EU?
Labour productivity growth
What is the contribution of labour productivity growth to real per capita income growth in the EU27?
100%
What is the difference between basic prices and purchasers' prices in the context of GDP measurement?
Basic prices include indirect taxes, while purchasers' prices do not
What is the potential impact of slower productivity growth according to the OECD?
Increased income inequality
What is the role of the rest of the world account in national accounts?
To track imports and exports of goods and services
What is the formula for measuring GDP at market prices (purchasers' prices)?
GDPmp = GDPfc + indirect taxes + subsidies
What is the demographic factor in the identity used to explain long-term growth?
Population growth
What is the trend in short-term growth in the EU according to the text?
Decreasing
What is the difference between GDP at market prices and GDP at factor cost?
GDP at market prices includes indirect taxes, GDP at factor cost does not
What is the potential impact of mismeasurement on productivity estimates according to the text?
Overestimation of productivity growth
What is the purpose of using quarter-on-quarter growth rates in identifying short-term fluctuations in the economy?
To capture short-term changes in economic activity
What is the main factor contributing to the reduction in the rate of growth of labour productivity according to the Solow analysis?
Capital accumulation
What is the difference between nominal and real terms in the context of economic variables?
Real terms account for inflation, nominal terms do not
What is the potential impact of slowing technological diffusion on productivity growth according to the text?
Decreased productivity growth
What is the purpose of the NAMQ_10_GDP dataset according to the text?
To provide data on GDP by quarter in EU countries
What is the demographic factor in the identity used to explain long-term growth according to the text?
Population growth
What is the trend in global productivity frontier according to the text?
Decreasing
Test your knowledge on identifying recessions and expansions in the economy using quarter-on-quarter growth rates. Learn about the importance of cleaning quarterly data from seasonal and calendar components to identify short-term fluctuations. Understand how seasonal and calendar components correspond to intra-year fluctuations that are stable over time. Take the quiz now!
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