SOLVED

2.2Â Â The Global Economy 1) Compared to the world, the rate of U.S. population growth is A) slower than in the world as a whole. B) about the same as in the world as a whole. C) much faster than in the world as a whole. D) incomparable because U.S. residents are born with a much greater chance of accumulating a lot of human capital. E) incomparable because we do not have accurate world population statistics. 2) Approximately ________ people live in the United States and ________ people live in the world. A) 410 million; 8 billion B) 310 million; 7 billion C) 210 million; 5 billion D) 310 million; 3 billion E) 210 million; 6 billion 3) The most people live in ________ economies and the fewest people live in ________ economies. A) developing; emerging market B) advanced; emerging market C) advanced; developing D) emerging market; developing E) developing; advanced 4) When describing the IMF broad country classification, the most accurate statement is that A) the category with the greatest number of countries is the advanced economies. B) the emerging market economies are countries that were, until the early 1990s, part of the Soviet Union or its satellites. C) most of the nations in Western Europe are considered emerging market economies. D) most of the world’s population lives in advanced economies. E) about 50 percent of the world’s population live in the advanced economies and the other 50 percent live in the emerging market and developing economies. 5) Which of the following is NOT classified as an advanced economy? A) South Korea B) Australia C) Russia D) Hong Kong E) the United Kingdom 6) Canada is classified by the International Monetary Fund as A) an advanced economy. B) a developing economy. C) a transition economy. D) an emerging market economy. E) a natural-resource based economy. 7) ________ economies include ____________. A) Advanced; France, Australia and South Korea B) Advanced; the U.S., Taiwan and Russia C) Advanced; Russia, Canada and Singapore D) Emerging; Taiwan, Russia and Singapore E) Emerging; Saudi Arabia, Poland and Taiwan 8) Most countries in the world are classified as A) advanced. B) in transition. C) developing. D) industrialized. E) emerging market. 9) Most of the world’s population lives in A) advanced economies. B) developing economies. C) transition economies. D) emerging market economies. E) island nations. 10) Which of the following is true? i)The advanced economies account for more than half of global production. ii)Almost four out of every five people in the world live in the developing economies. iii)In the advanced economies, agriculture accounts for a larger part of total production than in the developing economies. A) Only i and ii B) Only ii and iii C) Only i and iii D) Only i E) i, ii, and iii