Economic Growth Videos – MACRO MINI – 2019 SPRING 

The key terms in these Economic Growth videos – 2019 Spring – Macro Mini include Economic Growth, Production Possibilities Frontier, PPF.

Item 1

Required information

Economic Growth and the Production Possibilities Frontier Video

How is economic growth represented in this video?

Item 2

Required information

Measuring Economic Growth Using Real GDP Video

How fast does real GDP grow from Year 1 to Year 2 in the video example?

  • 1%
  • 2%
  • 4% Correct
  • 3%

Item 3

Required information

Rule of 72 Video

According to the video, how quickly has China’s GDP been doubling in the last few decades?

  • every 12 years
  • every 8 years Correct
  • every 9 years
  • every 7 years

Item 4

Required information

A Historical View of Economic Growth Video

This video asks you to consider what it would be like to live in what ancient city?

  • London
  • Florence
  • Rome Correct
  • Athens

Item 5

Required information

The Expenditures Approach – Gross versus Net Investment Video

In the video example, how much was net investment in the economy?

  • 2 tractors
  • 3 tractors
  • 0 tractors

Measuring output videos

Item 6

Required information

GDP – An Imperfect Measure Video

Based on what you learned in the video, which of the following transactions is most likely to be included in GDP?

  • Lucas sells illegal drugs.
  • Emma provides landscaping services for Monica in exchange for some fruit from Monica’s tree.
  • Toby performs many different tasks as a stay-at-home parent.
  • Sandra starts her own bakery and sells bread to neighborhood restaurant

Item 7

Required information

Expenditures Approach – Net Exports Video

What was the value of net exports in Marketopia?

  • $10 billion
  • $4 billion
  • $3 billion Correct
  • $7 billion

Item 8

Required information

Real GDP Video

In the video example, nominal GDP overstated the growth of output by approximately how much?

  • 1%
  • 4%
  • 2%
  • 3%