Question Details

Which of the following could explain this ranking 



1) The following data are estimates describing Irelandʹs economy in 2006 and 2007 (in millions of
euros, in constant prices):
2006 2007
Consumption 84,000 89,000
Government expenditure 24,000 26,000
Investment 48,000 48,000
Exports 142,000 151,000
Imports 123,000 128,000
Subsidies 1,800 1,900
Taxes 500 500
In 2007, Irelandʹs net exports was ________ million euros.
A) 23,000
B) -23,000
C) 279,000
D) 149,100
2) The following data are estimates describing Irelandʹs economy in 2006 and 2007 (in millions of
euros, in constant prices):
2006 2007
Consumption 84,000 89,000
Government expenditure 24,000 26,000
Investment 48,000 48,000
Exports 142,000 151,000
Imports 123,000 128,000
Subsidies 1,800 1,900
Taxes 500 500
Which of the following is true regarding Irelandʹs economy?
A) The change in GDP from 2006 to 2007 represented a peak in the business cycle.
B) GDP decreased from 2006 to 2007.
C) Net exports decreased from 2006 to 2007.
D) Consumption was 48 percent of Irelandʹs GDP in 2007.


ʺLife expectancy is exceptionally high in Japan. Scores for political freedom and civil liberties approach those
of peer countries in Europe...equality of opportunity is extremely weak. The country also possesses one of
the longer working weeks.ʺ Japanʹs GDP was estimated to be $4.2 trillion (purchasing power parity) and the
population was 127.4 million.
ʺDriven by its attractive climate, Brazil performs substantially better on Life Satisfaction than Material
Wealth. High international demand for Brazilʹs commodities and raw materials has produced a sustained
economic expansion since 2004, which in turn has led to job creation, wage growth and relatively low
inflation. Brazilians report that they control their own lives to a substantial degree.ʺ Brazilʹs GDP was
estimated to be $1.7 trillion (purchasing power parity) and 190 million in 2006.
www.prosperity.com
3) According to the article, we can conclude that the standard of living
A) is higher in Brazil because its citizens feel more control over their lives and have
experienced job and wage growth.
B) is higher in Japan because their life expectancy is longer.
C) is higher in Japan because its GDP is higher.
D) might be higher in Japan because it has a higher per capita real GDP but other factors such
as Braziliansʹ satisfaction with their lives and economic growth should be considered
when determining economic well being.
4) According to the information, Japanʹs real GDP per person
A) is higher than Brazilʹs and therefore we can definitely conclude that economic well-being
is higher in Japan.
B) is $33,000.
C) is lower than Brazilʹs, but its real GDP is higher which makes standard of living higher in
Japan.
D) cannot be expected to change much given the other factors affecting GDP growth
including political freedom and life expectancy.
5) The United Nationʹs Human Development Report (2006) ranked Norway first in its Human
Development Index with GDP per person equal to $38,454. The United States , with GDP per
person of $39,676, is ranked eighth. Which of the following could explain this ranking ?
A) Other factors, like life expectancy and education are higher in Norway.
B) Norway has a lower GDP than the United State.
C) The United States has a lower unemployment rate than does Norway.
D) The United States has a higher population growth rate.



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