What role does population growth play in economic development?
Rapid population growth creates a high dependency ratio and requires substantial investment of resources
in health, education, and training. These resources could alternatively have been invested in physical capital
and infrastructure to promote the growth of GDP.
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The reason why the differences in the growth stories of North Korea and South Korea can be viewed approximately as a natural experiment or an experiment of history is that:
A) institutions in both countries was changing radically, while geography and culture remained largely unchanged. B) culture in both countries was changing radically, while geography and institutions remained largely unchanged. C) geography in both countries was changing radically, while culture and institutions remained largely unchanged. D) institutions, geography, and culture in both countries were changing radically.
Which of the following is NOT included in the income approach to measuring GDP?
A) net interest B) net exports C) corporate profits D) compensation of employees