Skip to ContentGo to accessibility page
OpenStax Logo
Principles of Economics 2e

Review Questions

Principles of Economics 2eReview Questions

Review Questions

12.

What is the primary way in which economists measure standards of living?

13.

What are some of the other ways of comparing the standard of living in countries around the world?

14.

What are the four other factors that determine the economic standard of living around the world?

15.

What other factors, aside from labor productivity, capital investment, and technology, impact the economic growth of a country? How?

16.

What strategies did the East Asian Tigers employ to stimulate economic growth?

17.

What are the two types of unemployment problems?

18.

In low-income countries, does it make sense to argue that most of the people without long-term jobs are unemployed?

19.

Is inflation likely to be a severe problem for at least some high-income economies in the near future?

20.

Is inflation likely to be a problem for at least some low- and middle-income economies in the near future?

21.

What are the major issues with regard to trade imbalances for the U.S. economy?

22.

What are the major issues with regard to trade imbalances for low- and middle-income countries?

PreviousNext
Order a print copy
Citation/Attribution
Reuse and redistribution of this content in digital or print format:
  • This book may not be used in the training of large language models or otherwise be ingested into large language models or generative AI offerings without OpenStax's prior written permission.
  • This book uses the Creative Commons Attribution License, which means that you can reuse and modify the material only for noncommercial purposes, must attribute OpenStax, and must distribute any derivative works under the same license.
  • Any commercial printing of this textbook, including using a local or custom printer, must be approved by OpenStax, and proper citation provided.
  • OpenStax-copyrighted images, activities, assessments, and similar components of this book are subject to the same licensing – CC-BY-NC-SA. They can be used for noncommercial purposes with attribution. Commercial use requires permission.
  • Permission requests: Anyone who intends to incorporate this content (including text, images, and other components) into large language models, use it in AI offerings, use it commercially (including in print), and/or has questions about another use case is welcome to complete our reuse request form.
Attribution information
  • If you are redistributing all or part of this book in a noncommercial print format, then you must include on every physical page the following attribution:

    Access for free at https://openstax.org/books/principles-economics-2e/pages/1-introduction

  • If you are redistributing all or part of this book in a noncommercial digital format, then for every page that includes OpenStax content, you must license the derivative work under the same CC-BY-NC-SA license as the original, and include on every digital page view the following attribution:

    Access for free at https://openstax.org/books/principles-economics-2e/pages/1-introduction

Citation information

The information below includes the information needed to generate citations in most major styles (APA, MLA, etc.); you must reformat and organize the information as needed to fit the requirements of the style. Use the information below to generate a citation. We recommend using a citation tool such as this one.

© Jun 15, 2022 OpenStax. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License. The OpenStax name, OpenStax logo, OpenStax book covers, OpenStax CNX name, and OpenStax CNX logo, and Rice University name, and Rice University logo trademarks, or wordmarks are not subject to the Creative Commons license and may not be reproduced without the prior and express written consent of Rice University.