Question 1

Increases in productivity in the United States since 1929 are mostly due to:

Accepted Answer

A)  Increases in the quantity of labor. 
B)  Increases in the number of U.S.firms. 
C)  Research and development. 
D)  The high salaries paid to workers. 
A)  Increases in the quantity of labor. 
B)  Increases in the number of U.S.firms. 
C)  Research and development. 
D)  The high salaries paid to workers.

Question 2

Which of the following is definitely true if the production possibilities curve shifts outward?

Accepted Answer

A)  Aggregate supply has increased. 
B)  Population has increased. 
C)  GDP per capita has increased. 
D)  Inflation has increaseD. 
A)  Aggregate supply has increased. 
B)  Population has increased. 
C)  GDP per capita has increased. 
D)  Inflation has increaseD.

Question 3

If GDP was $7,552 billion in 2006 and the population was 270 million,then GDP per capita was approximately:

Accepted Answer

A)  $3,575. 
B)  $20,390. 
C)  $27,970. 
D)  $37,798. 
A)  $3,575. 
B)  $20,390. 
C)  $27,970. 
D)  $37,798.

Question 4

Discuss the reason labor productivity increases when more units of output are produced per unit of labor.

Accepted Answer

Productivity changes are not directly re

Question 5

The News Wire article,titled "House Poised to Pass STEM Immigration Bill" explains the Senate immigration bill that favors those with certain job skills and education.This type of immigration policy focuses on:

Accepted Answer

A)  Investment incentives. 
B)  Labor productivity. 
C)  Capital gains taxes. 
D)  Research and development. 
A)  Investment incentives. 
B)  Labor productivity. 
C)  Capital gains taxes. 
D)  Research and development.

Question 6

When an economy moves from a point inside its production possibilities curve to a point on its production possibilities curve,it is using all of its productive capacity.

Accepted Answer

A) True 
 B)False

Question 7

Once an economy is on its production possibilities curve,further economic growth requires an expansion of productive capacity.

Accepted Answer

A) True 
 B)False

Question 8

If growth in output exceeds growth in population,then GDP per capita increases.

Accepted Answer

A) True 
 B)False

Question 9

GDP per capita is the best measurement for determining the:

Accepted Answer

A)  Impact of the marginal tax rate on AS. 
B)  Rule of 72. 
C)  Standard of living. 
D)  Productivity of the work force. 
A)  Impact of the marginal tax rate on AS. 
B)  Rule of 72. 
C)  Standard of living. 
D)  Productivity of the work force.

Question 10

A News Wire article is titled "What Economic Growth Has Done for U.S.Families." Which of the following changes is likely as a result of economic growth?

Accepted Answer

A)  A shorter life span. 
B)  Less leisure time. 
C)  The ability to consume more goods. 
D)  A decrease in productivity. 
A)  A shorter life span. 
B)  Less leisure time. 
C)  The ability to consume more goods. 
D)  A decrease in productivity.

Question 11

If GDP was $8,400 billion in 2005 and the population was 330 million,then GDP per capita was approximately:

Accepted Answer

A)  $8,070. 
B)  $25,455. 
C)  $39,286. 
D)  $84,000. 
A)  $8,070. 
B)  $25,455. 
C)  $39,286. 
D)  $84,000.

Increases in productivity in the United States since 1929 are mostly due to:

Which of the following is definitely true if the production possibilities curve shifts outward?

If GDP was $7,552 billion in 2006 and the population was 270 million,then GDP per capita was approximately:

Discuss the reason labor productivity increases when more units of output are produced per unit of labor.

The News Wire article,titled "House Poised to Pass STEM Immigration Bill" explains the Senate immigration bill that favors those with certain job skills and education.This type of immigration policy focuses on:

When an economy moves from a point inside its production possibilities curve to a point on its production possibilities curve,it is using all of its productive capacity.

Once an economy is on its production possibilities curve,further economic growth requires an expansion of productive capacity.

If growth in output exceeds growth in population,then GDP per capita increases.

GDP per capita is the best measurement for determining the:

A News Wire article is titled "What Economic Growth Has Done for U.S.Families." Which of the following changes is likely as a result of economic growth?

If GDP was $8,400 billion in 2005 and the population was 330 million,then GDP per capita was approximately:

The Challenge of Economics

The US Economy

Supply and Demand

Consumer Demand

Supply Decisions

Competition

Monopoly

The Labor Market

Government Intervention

The Business Cycle

Aggregate Supply and Demand

Fiscal Policy

Money and Banks

Monetary Policy

Theory and Reality

International Trade

Filters

Exam 15: Economic Growth

Increases in productivity in the United States since 1929 are mostly due to:

Which of the following is definitely true if the production possibilities curve shifts outward?

If GDP was $7,552 billion in 2006 and the population was 270 million,then GDP per capita was approximately:

Discuss the reason labor productivity increases when more units of output are produced per unit of labor.

The News Wire article,titled "House Poised to Pass STEM Immigration Bill" explains the Senate immigration bill that favors those with certain job skills and education.This type of immigration policy focuses on:

When an economy moves from a point inside its production possibilities curve to a point on its production possibilities curve,it is using all of its productive capacity.

Once an economy is on its production possibilities curve,further economic growth requires an expansion of productive capacity.

If growth in output exceeds growth in population,then GDP per capita increases.

GDP per capita is the best measurement for determining the:

A News Wire article is titled "What Economic Growth Has Done for U.S.Families." Which of the following changes is likely as a result of economic growth?

If GDP was $8,400 billion in 2005 and the population was 330 million,then GDP per capita was approximately:

The Challenge of Economics

The US Economy

Supply and Demand

Consumer Demand

Supply Decisions

Competition

Monopoly

The Labor Market

Government Intervention

The Business Cycle

Aggregate Supply and Demand

Fiscal Policy

Money and Banks

Monetary Policy

Theory and Reality

International Trade

Filters