In 2000, the Nations of Niger and Portugal Had Similar

question 20

Multiple Choice

In 2000, the nations of Niger and Portugal had similar size populations: Niger 10.1 million, Portugal 10.0 million. However, the relative growth rate for Niger was 3.0%/year, whereas that for Portugal was only 0.1%/year. Assuming exponential growth at the given rates, make projections for each population in the year 2055. Please round the answers to one decimal place.

• A) Niger: 10.6 million; Portugal: 52.6 million
• B) Niger: 53.8 million; Portugal: 11.0 million
• C) Niger: 52.6 million; Portugal: 10.6 million
• D) Niger: 54.4 million; Portugal: 11.6 million
• E) Niger: 54.0 million; Portugal: 11.1 million

Understand the implications of expansionary and recessionary gaps in the short-run.

Explain the role of resource prices and costs of production in determining the slope of the short-run aggregate supply curve.

Analyze equilibrium conditions in the aggregate demand and aggregate supply model.

Understand the concept of market risk, including how beta measures the sensitivity of a stock's returns to market movements.