Question 1

Which of the following countries benefited a lot from the catch-up effect in the last half of the twentieth century?

Accepted Answer

A) Ethiopia 
B) Saudi Arabia 
C) South Korea 
D) Germany 
A) Ethiopia 
B) Saudi Arabia 
C) South Korea 
D) Germany

Question 2

A management professor discovers a way for corporate management to operate more efficiently. He publishes his findings in a journal. How are his findings best defined?

Accepted Answer

A) proprietary and common knowledge 
B) neither proprietary nor common knowledge 
C) proprietary, but not common, knowledge 
D) common, but not proprietary, knowledge 
A) proprietary and common knowledge 
B) neither proprietary nor common knowledge 
C) proprietary, but not common, knowledge 
D) common, but not proprietary, knowledge

Question 3

Constant returns to scale is the point on a production function where increasing inputs will no longer increase output.

Accepted Answer

A) True 
 B)False

Question 4

Suppose that Poland undertakes policy to increase its saving rate. Which of the following will this policy most likely do?

Accepted Answer

A) It will have no impact on GDP growth. 
B) It will lead to somewhat higher GDP growth for a few years. 
C) It will lead to substantially higher GDP growth for a period of several decades. 
D) It will lead to a permanently higher growth rate. 
A) It will have no impact on GDP growth. 
B) It will lead to somewhat higher GDP growth for a few years. 
C) It will lead to substantially higher GDP growth for a period of several decades. 
D) It will lead to a permanently higher growth rate.

Question 5

Which of the following measures a nation's standard of living?

Accepted Answer

A) real GDP 
B) real GDP per person 
C) nominal GDP 
D) nominal GDP per person 
A) real GDP 
B) real GDP per person 
C) nominal GDP 
D) nominal GDP per person

Which of the following countries benefited a lot from the catch-up effect in the last half of the twentieth century?

A management professor discovers a way for corporate management to operate more efficiently. He publishes his findings in a journal. How are his findings best defined?

Constant returns to scale is the point on a production function where increasing inputs will no longer increase output.

Suppose that Poland undertakes policy to increase its saving rate. Which of the following will this policy most likely do?

Which of the following measures a nation's standard of living?

Ten Principles of Economics

Thinking Like an Economist

Interdependence and the Gains From Trade

The Market Forces of Supply and Demand

Measuring a Nations Income

Measuring the Cost of Living

Saving, Investment, and the Financial System

Unemployment and Its Natural Rate

The Monetary System

Money Growth and Inflation

Open-Economy Macroeconomics: Basic Concepts

A Macroeconomic Theory of the Open Economy

Aggregate Demand and Aggregate Supply

The Influence of Monetary and Fiscal Policy on Aggregate Demand

The Short-Run Tradeoff Between Inflation and Unemployment

Five Debates Over Macroeconomic Policy

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Exam 7: Production and Growth

Which of the following countries benefited a lot from the catch-up effect in the last half of the twentieth century?

A management professor discovers a way for corporate management to operate more efficiently. He publishes his findings in a journal. How are his findings best defined?

Constant returns to scale is the point on a production function where increasing inputs will no longer increase output.

Suppose that Poland undertakes policy to increase its saving rate. Which of the following will this policy most likely do?

Which of the following measures a nation's standard of living?

Ten Principles of Economics

Thinking Like an Economist

Interdependence and the Gains From Trade

The Market Forces of Supply and Demand

Measuring a Nations Income

Measuring the Cost of Living

Saving, Investment, and the Financial System

Unemployment and Its Natural Rate

The Monetary System

Money Growth and Inflation

Open-Economy Macroeconomics: Basic Concepts

A Macroeconomic Theory of the Open Economy

Aggregate Demand and Aggregate Supply

The Influence of Monetary and Fiscal Policy on Aggregate Demand

The Short-Run Tradeoff Between Inflation and Unemployment

Five Debates Over Macroeconomic Policy

Filters