Question 1

Economic growth, as measured by increases in real per-capita GDP, was at its strongest during

Accepted Answer

A) 1960s 
B) 1990s 
C) 2000s 
D) 2010s 
A) 1960s 
B) 1990s 
C) 2000s 
D) 2010s A

Question 2

Economic growth slowed during the 2000s and 2010s, in part because

Accepted Answer

A) the sources of growth prior to the 2000 could only happen once (increases in the female labor force participation rate and high school graduation rate) 
B) the innovations of the 2000s and 2010s were more likely to increase the entertainment value of spare time 
C) baby boomers started to retire 
D) all of these 
A) the sources of growth prior to the 2000 could only happen once (increases in the female labor force participation rate and high school graduation rate) 
B) the innovations of the 2000s and 2010s were more likely to increase the entertainment value of spare time 
C) baby boomers started to retire 
D) all of these D

Question 3

When free trade and free flow of capital rules were put in place in the post-World War II era this had its greatest impact on growth through which source?

Accepted Answer

A) An increase in the number of workers 
B) An increase in the productivity of workers 
C) An increase in economic freedom 
D) None of these 
A) An increase in the number of workers 
B) An increase in the productivity of workers 
C) An increase in economic freedom 
D) None of these C

Question 4

Economic growth, as measured by increases in real per-capita GDP, was at its strongest during

Accepted Answer

A) 1950s 
B) 1960s 
C) 1970s 
D) 1980s 
A) 1950s 
B) 1960s 
C) 1970s 
D) 1980s

Question 5

If a candidate for political office was espousing a "pro-growth" agenda and was focused on innovation, this would have its greatest impact on growth through which source?

Accepted Answer

A) An increase in the number of workers 
B) An increase in the productivity of workers 
C) An increase in economic freedom 
D) None of these 
A) An increase in the number of workers 
B) An increase in the productivity of workers 
C) An increase in economic freedom 
D) None of these

Question 6

Those that believe that the recent period of slow growth will pass and that higher levels of growth can be created

Accepted Answer

A) Are all conservatives suggesting regulation and pro-business tax policies 
B) Are all liberals suggesting increased government spending and redistributive tax and entitlement policies 
C) Are all techno-optimists 
D) Are a combination of those described above 
A) Are all conservatives suggesting regulation and pro-business tax policies 
B) Are all liberals suggesting increased government spending and redistributive tax and entitlement policies 
C) Are all techno-optimists 
D) Are a combination of those described above

Question 7

Those that believe that the recent period of slow growth will pass and that higher levels of growth can be created through conservative policies focus on ones that would cause

Accepted Answer

A) Increases to aggregate demand 
B) Increases to aggregate supply 
C) Increases in interest rates 
D) Decreases in aggregate supply 
A) Increases to aggregate demand 
B) Increases to aggregate supply 
C) Increases in interest rates 
D) Decreases in aggregate supply

Question 8

The aging of the US population growth after 2000

Accepted Answer

A) was a significant reason behind the slowing of economic growth during that period. 
B) was entirely countered by an opposite trend in immigration so growth was nearly zero. 
C) was more than countered by an opposite trend in immigration so growth was robust. 
D) should have been a source of growth but wasn't. 
A) was a significant reason behind the slowing of economic growth during that period. 
B) was entirely countered by an opposite trend in immigration so growth was nearly zero. 
C) was more than countered by an opposite trend in immigration so growth was robust. 
D) should have been a source of growth but wasn't.

Question 9

The percentage of the population in the two lower income classes (defined by Pew as having less than 67% of median family income)

Accepted Answer

A) declined from more than 60% in the 1970s to 50% in 2015 
B) declined from more than 60% in the 1970s to 20% in 2015 
C) remained constant at 60% from the 1970s to 2015 
D) increased from the 1970s to 2015 
A) declined from more than 60% in the 1970s to 50% in 2015 
B) declined from more than 60% in the 1970s to 20% in 2015 
C) remained constant at 60% from the 1970s to 2015 
D) increased from the 1970s to 2015

Question 10

If a candidate for political office was espousing a "pro-growth" agenda and was focused on decreasing government regulations, this would have its greatest impact on growth through which source?

Accepted Answer

A) An increase in the number of workers 
B) An increase in the productivity of workers 
C) An increase in economic freedom 
D) None of these 
A) An increase in the number of workers 
B) An increase in the productivity of workers 
C) An increase in economic freedom 
D) None of these

Question 11

The percentage of the population in the two higher income classes (defined by Pew as having more than 200% of median family income) declined from more than 60% in the 1970s to 50% in 2015. Economists that see the decline in the middle class as a consequence of declining growth argue

Accepted Answer

A) The middle class is responsible for buying a high portion of the goods and services produced. 
B) If the poor can't afford goods, fewer will be produced. 
C) The middle class is responsible for most of the investment dollars available 
D) That middle class are generated by growth and without it, there are fewer such jobs. 
A) The middle class is responsible for buying a high portion of the goods and services produced. 
B) If the poor can't afford goods, fewer will be produced. 
C) The middle class is responsible for most of the investment dollars available 
D) That middle class are generated by growth and without it, there are fewer such jobs.

Question 12

The labor force participation rate among women 25 to 54 rose rapidly between 1950 and 2000 (from 36% to 77%)and this

Accepted Answer

A) was a significant source of economic growth during that period. 
B) was entirely countered by an opposite trend among men so growth was slow. 
C) was more than countered by an opposite trend among men so growth was negative. 
D) should have been a source of growth but wasn't. 
A) was a significant source of economic growth during that period. 
B) was entirely countered by an opposite trend among men so growth was slow. 
C) was more than countered by an opposite trend among men so growth was negative. 
D) should have been a source of growth but wasn't.

Question 13

When women entered the workforce in greater numbers after World War II, this had its greatest impact on growth through which source?

Accepted Answer

A) An increase in the number of workers 
B) An increase in the productivity of workers 
C) An increase in economic freedom 
D) Education 
A) An increase in the number of workers 
B) An increase in the productivity of workers 
C) An increase in economic freedom 
D) Education

Question 14

World economic growth, as measured by increases in real per-capita GDP, exceeded 2% during the period

Accepted Answer

A) 1300-1750 
B) 1750-1860 
C) 1865-1929 
D) 1946-1980 
A) 1300-1750 
B) 1750-1860 
C) 1865-1929 
D) 1946-1980

Question 15

Those that believe that the recent period of slow growth will pass and that higher levels of growth can be created through liberal policies focus on ones that would cause

Accepted Answer

A) Increases to aggregate demand 
B) Increases to aggregate supply 
C) Increases in interest rates 
D) Decreases in aggregate supply 
A) Increases to aggregate demand 
B) Increases to aggregate supply 
C) Increases in interest rates 
D) Decreases in aggregate supply

Question 16

The sources of economic growth, as measured by increases in real per-capita GDP, include

Accepted Answer

A) An increase in the number of workers 
B) An increase in the productivity of workers 
C) An increase in economic freedom 
D) All of these are sources of growth 
A) An increase in the number of workers 
B) An increase in the productivity of workers 
C) An increase in economic freedom 
D) All of these are sources of growth

Question 17

Economic growth, as measured by increases in real per-capita GDP, exceeded 3% during the

Accepted Answer

A) 1960s 
B) 1980s 
C) 1990s 
D) 2000s and 2010s 
A) 1960s 
B) 1980s 
C) 1990s 
D) 2000s and 2010s

Question 18

Those that believe that the recent period of slow growth is the new normal that we need to get used to

Accepted Answer

A) Believe that the causes of older growth (increases in the labor force participation rate and the use of energy to replace people power)are still available 
B) Believe we are on the cusp of a period of new (artificial intelligence-based)innovations 
C) Believe we have to hope for the best 
D) Believe that the period of robust growth was actually just a historic anomaly. 
A) Believe that the causes of older growth (increases in the labor force participation rate and the use of energy to replace people power)are still available 
B) Believe we are on the cusp of a period of new (artificial intelligence-based)innovations 
C) Believe we have to hope for the best 
D) Believe that the period of robust growth was actually just a historic anomaly.

Question 19

The percentage of the population in the two higher income classes (defined by Pew as having more than 200% of median family income) declined from more than 60% in the 1970s to 50% in 2015. Economists that see the decline in the middle class as a cause of declining growth argue

Accepted Answer

A) The middle class is responsible for buying a high portion of the goods and services produced. 
B) If the poor can't afford goods, fewer will be produced. 
C) The middle class is responsible for most of the investment dollars available 
D) That middle class are generated by growth and without it, there are fewer such jobs. 
A) The middle class is responsible for buying a high portion of the goods and services produced. 
B) If the poor can't afford goods, fewer will be produced. 
C) The middle class is responsible for most of the investment dollars available 
D) That middle class are generated by growth and without it, there are fewer such jobs.

Question 20

The percentage of the population in the two higher income classes (defined by Pew as having more than 200% of median family income)

Accepted Answer

A) declined from more than 60% in the 1970s to 50% in 2015 
B) declined from more than 60% in the 1970s to 20% in 2015 
C) remained constant at 60% from the 1970s to 2015 
D) increased from the 1970s to 2015 
A) declined from more than 60% in the 1970s to 50% in 2015 
B) declined from more than 60% in the 1970s to 20% in 2015 
C) remained constant at 60% from the 1970s to 2015 
D) increased from the 1970s to 2015

Exam 15: Is Economic Stagnation the New Normal

Economic growth, as measured by increases in real per-capita GDP, was at its strongest during

Economic growth slowed during the 2000s and 2010s, in part because

When free trade and free flow of capital rules were put in place in the post-World War II era this had its greatest impact on growth through which source?

Economic growth, as measured by increases in real per-capita GDP, was at its strongest during

If a candidate for political office was espousing a "pro-growth" agenda and was focused on innovation, this would have its greatest impact on growth through which source?

Those that believe that the recent period of slow growth will pass and that higher levels of growth can be created

Those that believe that the recent period of slow growth will pass and that higher levels of growth can be created through conservative policies focus on ones that would cause

The aging of the US population growth after 2000

The percentage of the population in the two lower income classes (defined by Pew as having less than 67% of median family income)

If a candidate for political office was espousing a "pro-growth" agenda and was focused on decreasing government regulations, this would have its greatest impact on growth through which source?

The percentage of the population in the two higher income classes (defined by Pew as having more than 200% of median family income) declined from more than 60% in the 1970s to 50% in 2015. Economists that see the decline in the middle class as a consequence of declining growth argue

The labor force participation rate among women 25 to 54 rose rapidly between 1950 and 2000 (from 36% to 77%)and this

When women entered the workforce in greater numbers after World War II, this had its greatest impact on growth through which source?

World economic growth, as measured by increases in real per-capita GDP, exceeded 2% during the period

Those that believe that the recent period of slow growth will pass and that higher levels of growth can be created through liberal policies focus on ones that would cause

The sources of economic growth, as measured by increases in real per-capita GDP, include

Economic growth, as measured by increases in real per-capita GDP, exceeded 3% during the

Those that believe that the recent period of slow growth is the new normal that we need to get used to

The percentage of the population in the two higher income classes (defined by Pew as having more than 200% of median family income) declined from more than 60% in the 1970s to 50% in 2015. Economists that see the decline in the middle class as a cause of declining growth argue

The percentage of the population in the two higher income classes (defined by Pew as having more than 200% of median family income)

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