Question 1

Human capital is defined as the

Accepted Answer

A) Amount of machinery,factories,and buildings an individual owns. 
B) Dollar value of all the stocks and bonds an individual owns. 
C) Knowledge and skills workers possess. 
D) None of the choices are correct. 
A) Amount of machinery,factories,and buildings an individual owns. 
B) Dollar value of all the stocks and bonds an individual owns. 
C) Knowledge and skills workers possess. 
D) None of the choices are correct.

Question 2

Which of the following does not contribute to the high productivity of the U.S.economy?

Accepted Answer

A) The capital stock. 
B) Factor mobility. 
C) Negative externalities. 
D) Technology. 
A) The capital stock. 
B) Factor mobility. 
C) Negative externalities. 
D) Technology.

Question 3

Per capita GDP will definitely fall if

Accepted Answer

A) The population falls. 
B) The rate of economic growth falls. 
C) The rate of economic growth is less than the rate of population growth. 
D) There is a decrease in the size of the working population. 
A) The population falls. 
B) The rate of economic growth falls. 
C) The rate of economic growth is less than the rate of population growth. 
D) There is a decrease in the size of the working population.

Question 4

Which of the following countries experienced a decline in total output from 2000 to 2015?

Accepted Answer

A) Canada. 
B) Zimbabwe. 
C) China. 
D) Burundi. 
A) Canada. 
B) Zimbabwe. 
C) China. 
D) Burundi.

Question 5

When unregulated monopolies exist,

Accepted Answer

A) Prices tend to be higher than with a competitive market. 
B) Quality tends to be higher than with a competitive market. 
C) Production tends to be higher than with a competitive market. 
D) Externalities occur. 
A) Prices tend to be higher than with a competitive market. 
B) Quality tends to be higher than with a competitive market. 
C) Production tends to be higher than with a competitive market. 
D) Externalities occur.

Question 6

Approximately how much of the world's output does China produce?

Accepted Answer

A) approximately 11 percent. 
B) approximately 0 percent. 
C) approximately 9 percent. 
D) approximately 1.5 percent. 
A) approximately 11 percent. 
B) approximately 0 percent. 
C) approximately 9 percent. 
D) approximately 1.5 percent.

Exam 2: The Useconomy: a Global View

Human capital is defined as the

Which of the following does not contribute to the high productivity of the U.S.economy?

Per capita GDP will definitely fall if

Which of the following countries experienced a decline in total output from 2000 to 2015?

When unregulated monopolies exist,

Approximately how much of the world's output does China produce?

Economics: the Core Issues

Supply and Demand

The Role of Government

National Income Accounting

Unemployment

Inflation

The Business Cycle

Aggregate Demand

Self-Adjustment or Instability

Fiscal Policy

Deficits and Debt

Money and Banks

The Federal Reserve System

Monetary Policy

Supply-Side Policy: Short-Run Options

Growth and Productivity: Long-Run Possibilities

Theory Versus Reality

Consumer Choice

Elasticity

The Costs of Production

The Competitive Firm

Competitive Markets

Monopoly

Oligopoly

Monopolistic Competition

Natural Monopolies: Deregulation

Environmental Protection

The Farm Problem

The Labor Market

Labor Unions

Financial Markets

Taxes: Equity Versus Efficiency

Transfer Payments: Welfare and Social Security

International Trade

International Finance

Global Poverty

Filters