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Environmental impacts of environmental degradation
Impacts of environmental degradation
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1. Economists use real GDP per capita to measure economic growth:
A) because it ignores the effect of price changes.
B) because poor nations have a large population and the population of richer nations is declining. C) because it is the inflation-adjusted value of a country 's production of goods and services corrected for the change in a country 's population.
D) even though nominal GNP per capita is a far superior measure of economic growth.
Use the following to answer questions 2-5:
Scenario: Growth Rates
Suppose that real GDP per capita of the United States is $32,000 and its growth rate is 2% per year. Real GDP per capita of China is $4,000, and its annual growth rate is 7%.
2. (Scenario: Growth Rates) Look at the scenario Growth Rates.
(Scenario: Growth Rates) Look at the scenario Growth Rates. How many years will it take for China 's real GDP per capita to be larger than real GDP per capita in the United
States?
A) 70 to 75 years
B) 40 to 45 years
C) 15 to 20 years
D) 5 to 10 years
Page 2
5. (Scenario: Growth Rates) Look at the scenario Growth Rates. According to the rule of
70, how large will China 's real GDP per capita be in 20 years?
A) $5,600
B) $8,000
C) $16,000
D) $28,000
6. Which of the following will NOT increase the productivity of labor?
A) technological improvements
B) an increase in the capital stock
C) improvements in education
D) an increase in the size of the labor force
7. If technology advances:
A) more output can be obtained from the same inputs.
B) more inputs are needed to produce the same output.
C) less output can be obtained from the same inputs.
D) less output can be produced even with more inputs.
8. Which of the following does NOT qualify as physical capital?
A) shovel
B) factory
C) backhoe
D) mineral deposits
9. Technological progress is advanced through:
A) research and development.
B) government regulation.
C) consumption.
D) infrastructure.
10. When the government invests in building roads, ports, and a reliable power grid, it is investing in a nation
D) resource scarcity no longer limits economic growth.
15. As a limit to economic growth, environmental problems are more difficult to solve than resource problems because:
A) environmental problems don 't automatically provide incentives for changed behavior. B) resource problems don 't automatically provide incentives for changed behavior.
C) the opportunity cost of solving environmental problems in terms of GDP sacrificed is larger.
D) most scientists haven 't determined the relationship between greenhouse gas emissions and climate change.
16. Between 1973 and the early 1990s consumers responded to:
A) low oil prices by buying large cars, trucks, and SUVs that were not fuel-efficient.
B) low oil prices by using other types of energy.
C) high oil prices by buying small, fuel-efficient cars.
D) high oil prices by agreeing to cap-and-trade policies to limit the use of oil.
17. Economists mostly agree that the problem of climate change necessitates government action in the form of market-based incentives such as:
A) tax rebates to those causing negative externalities.
B) a reduction in the amount of gasoline that each person is allowed to
One of the top contributing factors is China’s constant population growth. People have tried to speak up about this issue, as stated
Return on equity of 12.45% might be relevant factor to use for forecasted growth rate. G = (1-p)*ROE – (1-0.01)*12.45 –
curb inflation. President Reagan was able to sign into law a tax cut in late
governmental intervention to revive the flailing economy. They demanded a president who would be a hero and representative of his people rather than an aloof,
China has come a very long way in the past 25 years. China has grown at nearly 10 percent a year over the past 20 years. China's explosion on to the world investment, production and trade scene is the product of its size, growth and openness. This is leading to tremendous changes in the global economy.
Wright, G. & Czelusta, J. (2004). Why Economies Slow The Myth ofthe Resource Curse. Challenge, 47 (2), 6–38.
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From the 1970s, there has been a wave of liberalization in China, which was introduced by Deng Xiaoping. This is one of the key reasons to the rise of China to be one of the economic giants in the world. In the last 25 years of the century, the Chinese economy has had massive economic growth, which has been 9.5 percent on a yearly basis. This has been of great significance of the country since it quadrupled the gross domestic product (GDP) of the country thus leading to saving of 400 million of their citizens from the threats of poverty. In the late 1970s, China was ranked twentieth in terms of trade volumes in the whole world as well as being predicted to be the world’s top nation concerning trading activities (Kaplan, 53). This further predicted the country to record the highest GDP growth in the whole world.
The rise in China from a poor, stagnant country to a major economic power within a time span of twenty-eight years is often described by analysts as one of the greatest success stories in these present times. With China receiving an increase in the amount of trade business from many countries around the world, they may soon be a major competitor to surpass the U.S. China became the second largest economy, last year, overtaking Japan which had held that position since 1968 (Gallup). China could become the world’s largest economy in decades.
of the book. Vol. 24. What is the difference between a'smart' and a'smart'? Berkeley, CA: University of California, 1984.
In the race to be the best, China is clearly outperforming the United States. China has strong economic fundamentals¬ such as “a high savings rate, huge labor pool, and powerful work ethic” (Rachman, Gideon. "Think Again: American Decline). Their economy has grown an astonishing 9-10% over the past thirty years; almost double of what it used to be decades ago. China is also the “world’s greatest manufacturer and its greatest market” (Rachman). The continuing growth of China's economy is a source of concern for not only the U.S. but surrounding nations as well. One could argue that the U.S. need not worry about China’s growth because of the spread of globalization and that western ideologies would influence China to turn to democracy. Yet China has still managed to “incorporate censorship and one party rule with continuing economic success” (Rachman) and remains a communist country. Hypothetically, even if China does resort to a democratic state, this does not gua...
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