Question 1

As savings grow in an economy,economic growth rises.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following statements is not correct?

Accepted Answer

A)  Economic growth is best measured by the annual percentage change in nominal GDP per capita. 
B)  An economy producing along the production possibilities curve is operating at its potential output. 
C)  Economic growth is a crucial determinant of people's well-being. 
D)  If the quality of labor improves, an economy's production possibilities curve will shift outward. 
A)  Economic growth is best measured by the annual percentage change in nominal GDP per capita. 
B)  An economy producing along the production possibilities curve is operating at its potential output. 
C)  Economic growth is a crucial determinant of people's well-being. 
D)  If the quality of labor improves, an economy's production possibilities curve will shift outward.

Question 3

When observing economic growth and literacy rates,it is clear that:

Accepted Answer

A)  economic growth causes higher literacy rates. 
B)  economic growth may be a consequence of improved education. 
C)  improved levels of education may be the result of increasing economic growth. 
D)  all of the above are likely to be true. 
A)  economic growth causes higher literacy rates. 
B)  economic growth may be a consequence of improved education. 
C)  improved levels of education may be the result of increasing economic growth. 
D)  all of the above are likely to be true.

Question 4

Which of the following affects the rate of economic growth?

Accepted Answer

A)  the quality of available resources. 
B)  the quantity of available resources. 
C)  technological change. 
D)  all of the above. 
A)  the quality of available resources. 
B)  the quantity of available resources. 
C)  technological change. 
D)  all of the above.

Question 5

Which of the government policies below is not likely to encourage per capita economic growth?

Accepted Answer

A)  High taxes on companies that spend a lot on capital formation 
B)  The use of tax revenues for investment and capital formation 
C)  Special subsidies for capital-intensive forms of production 
D)  Promotion of education and training programs for workers 
A)  High taxes on companies that spend a lot on capital formation 
B)  The use of tax revenues for investment and capital formation 
C)  Special subsidies for capital-intensive forms of production 
D)  Promotion of education and training programs for workers

Question 6

As more capital per worker is added,a per worker production function generally becomes:

Accepted Answer

A)  flatter because capital is subject to diminishing marginal returns. 
B)  flatter because labor is subject to diminishing marginal returns. 
C)  flatter because capital is subject to increasing marginal returns. 
D)  steeper because capital is subject to diminishing marginal returns. 
A)  flatter because capital is subject to diminishing marginal returns. 
B)  flatter because labor is subject to diminishing marginal returns. 
C)  flatter because capital is subject to increasing marginal returns. 
D)  steeper because capital is subject to diminishing marginal returns.

Question 7

For a low-income country to develop into a high-income country,____ is (are)needed.

Accepted Answer

A)  a sustained and rapid expansion in the money supply 
B)  sustained economic growth 
C)  tax breaks on consumption goods 
D)  deflation 
A)  a sustained and rapid expansion in the money supply 
B)  sustained economic growth 
C)  tax breaks on consumption goods 
D)  deflation

As savings grow in an economy,economic growth rises.

Which of the following statements is not correct?

When observing economic growth and literacy rates,it is clear that:

Which of the following affects the rate of economic growth?

Which of the government policies below is not likely to encourage per capita economic growth?

As more capital per worker is added,a per worker production function generally becomes:

For a low-income country to develop into a high-income country,____ is (are)needed.

The Role and Method of Economics

Economics: Eight Powerful Ideas

Scarcity, Trade-Offs, and Production Possibilities

Demand, Supply, and Market Equilibrium

Markets in Motion and Price Controls

Elasticities

Market Efficiency and Welfare

Market Failure

Public Finance and Public Choice

Consumer Choice Theory

The Firm: Production and Costs

Firms in Perfectly Competitive Markets

Monopoly and Antitrust

Monopolistic Competition and Product Differentiation

Oligopoly and Strategic Behavior

The Markets for Labor, Capital, and Land

Income, Poverty, and Health Care

Introduction to Macroeconomics: Unemployment, Inflation, and Economic Fluctuations

Measuring Economic Performance

Financial Markets, Saving, and Investment

Aggregate Demand and Aggregate Supply

The Aggregate Expenditure Model

Monetary Institutions

The Federal Reserve System and Monetary Policy

Issues in Macroeconomic Theory and Policy

International Trade

International Finance

Filters

Exam 20: Economic Growth in the Global Economy

As savings grow in an economy,economic growth rises.

Which of the following statements is not correct?

When observing economic growth and literacy rates,it is clear that:

Which of the following affects the rate of economic growth?

Which of the government policies below is not likely to encourage per capita economic growth?

As more capital per worker is added,a per worker production function generally becomes:

For a low-income country to develop into a high-income country,____ is (are)needed.

The Role and Method of Economics

Economics: Eight Powerful Ideas

Scarcity, Trade-Offs, and Production Possibilities

Demand, Supply, and Market Equilibrium

Markets in Motion and Price Controls

Elasticities

Market Efficiency and Welfare

Market Failure

Public Finance and Public Choice

Consumer Choice Theory

The Firm: Production and Costs

Firms in Perfectly Competitive Markets

Monopoly and Antitrust

Monopolistic Competition and Product Differentiation

Oligopoly and Strategic Behavior

The Markets for Labor, Capital, and Land

Income, Poverty, and Health Care

Introduction to Macroeconomics: Unemployment, Inflation, and Economic Fluctuations

Measuring Economic Performance

Financial Markets, Saving, and Investment

Aggregate Demand and Aggregate Supply

The Aggregate Expenditure Model

Monetary Institutions

The Federal Reserve System and Monetary Policy

Issues in Macroeconomic Theory and Policy

International Trade

International Finance

Filters