Economic Review Question Paper
Some review questions for Lecture 4, 5 and 6
4.1 When and in which areas MAY local officials overstate or understate the economic growth rates? Briefly explain.
4.2 Indicate FOUR economic measures which are supplementary to and more reliable than the GDP data.
4.3 Between 1952 and 1978, the average annual growth rates of GDP and population were 6.0% and 1.9% respectively. Then how to calculate the average annual growth rate of GDP per capita?
4.4 China’s GDP measured at current or official exchange rate is much higher than that measured at PPP. What does this imply?
4.5a According to official exchange rates, in 2008 China’s GDP was estimated as US$4.222 trillion and U.S.’s GDP was US$14.33 trillion. Assuming an annual GDP growth rate …show more content…
4.6 Indicate the patterns of structural change in China during the past two decades using labor and GDP data.
4.7 Indicate some possible structural problems in China’s economy using available data.
4.8a Describe how to decompose economic growth.
4.8b In 2003 and 2004, the shares of investment in China’s GDP were 41.2% and 43.3%, and the (absolute) contributions of investment to GDP growth were 6.3% and 5.7%. Then what was the investment’s growth rate in 2004 (over 2003)?
4.9a What is total factor productivity (TFP)? Indicate five areas which may be included in TFP.
4.9b Describe the production function model to measure TFP.
4.9c For the TFP model, Yt/Yt = a + b(Kt/Kt) + (Lt/Lt ),, we had: 9.3%=2.7%+ (3/4)(7.6%) + (1/4)(3.6%) from 1978 to 1998 . If b changed to 3/5 from 3/4 and changed to 2/5 from 1/4, what was the change in technical progress …show more content…
5.1b Briefly explain China’s land constraint in two ways.
5.1c Indicate the components of China’s agriculture and their relative proportions in agricultural production value in 1978.
5.1d Summarize Chinese government’s general policies for rural and urban areas.
5.2a Summarize China’s agricultural system before its economic reform in 1978.
5.2b Indicate the rural institutions to facilitate China’s heavy-industry-oriented development strategy from 1950s to 1970s.
5.2c Summarize the basic features of agricultural collectives.
5.2d Explain why the agricultural distribution system based on “work points” did not work well.
5.2e Summarize the outcomes of agricultural collectives.
5.3a Briefly describe China’s household responsibility system established in its early stage of reform.
5.3b Outline the factors for the after-reform structural changes in China’s agriculture.
5.3c Briefly analyze the changes in cropping output in relation to total agricultural output during the pre-reform and after-reform periods.
5.3d Briefly indicate some negative effects of household responsibility system
5.3e What were not changed by the household responsibility system in the early
4.1 When and in which areas MAY local officials overstate or understate the economic growth rates? Briefly explain.
4.2 Indicate FOUR economic measures which are supplementary to and more reliable than the GDP data.
4.3 Between 1952 and 1978, the average annual growth rates of GDP and population were 6.0% and 1.9% respectively. Then how to calculate the average annual growth rate of GDP per capita?
4.4 China’s GDP measured at current or official exchange rate is much higher than that measured at PPP. What does this imply?
4.5a According to official exchange rates, in 2008 China’s GDP was estimated as US$4.222 trillion and U.S.’s GDP was US$14.33 trillion. Assuming an annual GDP growth rate …show more content…
4.6 Indicate the patterns of structural change in China during the past two decades using labor and GDP data.
4.7 Indicate some possible structural problems in China’s economy using available data.
4.8a Describe how to decompose economic growth.
4.8b In 2003 and 2004, the shares of investment in China’s GDP were 41.2% and 43.3%, and the (absolute) contributions of investment to GDP growth were 6.3% and 5.7%. Then what was the investment’s growth rate in 2004 (over 2003)?
4.9a What is total factor productivity (TFP)? Indicate five areas which may be included in TFP.
4.9b Describe the production function model to measure TFP.
4.9c For the TFP model, Yt/Yt = a + b(Kt/Kt) + (Lt/Lt ),, we had: 9.3%=2.7%+ (3/4)(7.6%) + (1/4)(3.6%) from 1978 to 1998 . If b changed to 3/5 from 3/4 and changed to 2/5 from 1/4, what was the change in technical progress …show more content…
5.1b Briefly explain China’s land constraint in two ways.
5.1c Indicate the components of China’s agriculture and their relative proportions in agricultural production value in 1978.
5.1d Summarize Chinese government’s general policies for rural and urban areas.
5.2a Summarize China’s agricultural system before its economic reform in 1978.
5.2b Indicate the rural institutions to facilitate China’s heavy-industry-oriented development strategy from 1950s to 1970s.
5.2c Summarize the basic features of agricultural collectives.
5.2d Explain why the agricultural distribution system based on “work points” did not work well.
5.2e Summarize the outcomes of agricultural collectives.
5.3a Briefly describe China’s household responsibility system established in its early stage of reform.
5.3b Outline the factors for the after-reform structural changes in China’s agriculture.
5.3c Briefly analyze the changes in cropping output in relation to total agricultural output during the pre-reform and after-reform periods.
5.3d Briefly indicate some negative effects of household responsibility system
5.3e What were not changed by the household responsibility system in the early