Macroeconomics Quiz
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Questions and Answers

What was the average annual growth rate of real GDP per capita in the United States from 1900 to 2015?

  • 1.2%
  • 1.9% (correct)
  • 2.5%
  • 3.5%
  • According to the rule of 70, how long does it take for real GDP per capita to double if it grows at 2% per year?

  • 35 years (correct)
  • 70 years
  • 140 years
  • 50 years
  • What percentage of the world's population lived with a lower standard of living than the United States a century ago?

  • 50%
  • 25% (correct)
  • 15%
  • 10%
  • In 1900, what percentage of its 2015 level was the Real GDP per capita?

    <p>12% (A)</p> Signup and view all the answers

    Which region had high incomes in 2015 according to the text?

    <p>Europe and North America (B)</p> Signup and view all the answers

    What was the average annual growth rate of real GDP per capita in the United States from 1900 to 2015?

    <p>1.9% (D)</p> Signup and view all the answers

    What percentage of the world's population lived with a lower standard of living than the United States a century ago?

    <p>25% (C)</p> Signup and view all the answers

    In 1900, what percentage of its 2015 level was the Real GDP per capita?

    <p>12% (A)</p> Signup and view all the answers

    According to the rule of 70, how long does it take for real GDP per capita to double if it grows at 1% per year?

    <p>70 years (B)</p> Signup and view all the answers

    Which region had high incomes in 2015 according to the text?

    <p>Europe and North America (A)</p> Signup and view all the answers

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