Q1- lWhich of the following options will be most likely to help real GDP per capita grow in the long run? Select an answer and submit. For keyboard navigation, use the upidown arrow keys to select an answer. a Reducing unemployment b- Attempting to discover new natural resources cResearch and development of new technology d-lncreasing population 02- Suppose that a developing country successfully implemented reforms to decrease corruption in the court system. Which determinant of economic growth will this impact most directly? Select an answer and submit. For keyboard navigation, use the upidown arrow keys to select an answer. a-Physical capital b-Human capital c-Technology growth d-Natural resources 03- The average US growth rate since 2008 has been 1.5% per year. Using the rule of 72, how long will it take for the size of the US. economy to quadruple at this growth rate? Remember to answer up to two decimal places. Q4 China's average growth rate since 2008 has been 7.9% per year. Using the rule of 72, how long will it take for the size of China's economy to double at this growth rate? Remember to answer up to two decimal places. 05- Your mortgage does not compound interest annually. The interest rate is 5.1% per year based on the initial capital. You begin repaying the capital borrowed after year 5. If your loan was for $500,000, how much interest did you pay after 5 years (assume that you made no capital payments)? QB Douglass North is NOT famous for . (only one answer is correct) Select an answer and submit. For keyboard navigation, use the upldown arrow keys to select an answer. a-Writing a book entitled Capital in the Twenty-First Century. b-Winning a Nobel Prize in Economics. chis work on the role of institutions in long-run growth. d-highlighting that transaction costs lead to misallocation of resources. 07- In Richlands real GDP per person is $10,000 and Poorland's real GDP per person is $5,000. However, Richland's real GDP per person is growing at 1% per year and Poorland is growing at 3% per year. Compare real GDP per person in the two countries now. (Calculate the ratio between the GDP per capita of Richland relative to Poorland's). 08- Compare the gap between Richland and Poorland now and ten years from now. Has the gap shrunk or increased? Explain briey. 09- Suppose in a given year, a country's real GDP growth rate was 5%. And its population grew at 2%. What was the real GDP per capita growth? (Only one correct answer) 010- When an economy has experienced increases in aggregate levels of production and income, and its real GDP has risen by some percentage from one year to the next, it has experienced economic ---------------- -When an economy has moved people from a situation of poverty to material plenty through investments in productive capacity and changes in the organization of work, it has experienced economic --------------- -The process of social and economic change that began in 18th century England and resulted in a huge increase in output per worker is called the ---------- 010- Before 1800 the average income per capita for the world was ------- dollars (1990 international Geary-Khamis dollars). Q11- Your mortgage compounds interest annually at an interest rate of 5.1%. If your loan was for $500,000, how much interest did you pay after 5 years? 012- Which of the following statements is NOT true? (Only one correct answer) Select an answer and submit. For keyboard navigation, use the upl'down arrow keys to select an answer. a-Economic growth is a modern phenomenon. bLong-term economic growth deals with recessions and expansions. cInstitutions are a deep determinant of economic growth. d-The average GDP per capita in the world before 1800 was around $400 (in 1996 Geary-Khamis dollars)