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capital and labor that the economy has is fully utilized in A Consumption B Production C. Investment Q21. Graphs are used to represent the various

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capital and labor that the economy has is fully utilized in A Consumption B Production C. Investment Q21. Graphs are used to represent the various ways in which the are linked to each other. A. endogenous variables B. exogenous variables C. control variables 022. The idea is that capital and labor markets function well and ensure the equality of supply and demand A Supply and demand B. Production and consumption C. Saving and Investment Q23. The values of are determined outside of the model. A. Endogenous variables B.Exogenous variables C. mixed varaibles Q24. Solow's theories helped to clarify the role of the accumulation of and emphasized the importance of technological progress as the ultimate driving force behind sustained economic growth A Physical stock B. Physical labor C. Physical capital Q25. is a useful "summary statistic" of the level of economic development in the sense that it is highly correlated with other measures of quality of life A. per capita income B GDP C. Productivity Q26. Instead of relying on prevailing exchange rates to make international comparisons of GDP. economists attempt to measure the actual value of a currency in terms of its ability to similar products. A Sell B. Produce . Purchase 027. Per capita income in the United States is more than times higher than income in Ethiopia A. 40 B. 50 C. 60 028. The typical worker in Ethiopia or Malawi must work months to carn what the typical worker in the United States carns in a day A Two B. Three C. Four 029. Approximately 40 percent of GDP is spent on food in Ethiopia, compared to about percent in the United States A7 B. 10 C.IS 030. In contrast, the 39 countries that make up sub-Saharan Africa constitute about percent of the world's population A 14 B. 13 C 12 Attempt all questions each question carries equal marks. Q1. How do we convert the Japanese yen to dollars in order to make a comparison? Give examples of them. Q.2 Explain basic production function of Salow model in details

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