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Principles of Macroeconomics 2e

Review Questions

Principles of Macroeconomics 2eReview 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?

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