Exam 2: The Useconomy: a Global View

Average GDP per person is

When economists describe a production process as capital-intensive,they mean that the

The United States has a larger real GDP than China because

The measure of final goods and services produced in the United States is the

Productivity

When workers move from one industry to another in response to demand changes,this is an example of

Which component(s)of U.S.real GDP increased in size relative to total U.S.real GDP from 1950 to 2000?

Monopolists can dictate the price or the quantity of the product they produce,but not both.

On average,since 1900 U.S.output has grown roughly ________ times faster than population growth.

According to the World View excerpt that compares GDP figures for several nations,Russia's real GDP is approximately

Per capita GDP is

A good approximation of a country's standard of living is per capita GDP,which is population divided by real GDP.

How will a decrease in technology from a natural disaster such as a hurricane,ceteris paribus,affect an economy's production possibilities curve?

Which of the following would be a legitimate government activity in the U.S.economy?

How is per capita GDP calculated,and what does it tell us about the economy?

Which of the following contributes to the high productivity of American workers?

How will an increase in factor mobility,ceteris paribus,affect an economy's production possibilities curve?

Differences in size of real GDP across countries are best explained by

Productivity is a measure of

As of the year 2000,manufacturing,mining,and construction accounted for what percentage of total U.S.output?