Question 1

Refer to the information provided in Table 16.2 below to answer the questions that follow.
Table 16.2
  
-Refer to Table 16.2. During Period 3, labor productivity is equal to

Accepted Answer

A)  0.22. 
B)  1.88. 
C)  3.21. 
D)  4.5. 
A)  0.22. 
B)  1.88. 
C)  3.21. 
D)  4.5.

Question 2

If the capital stock remains fixed while the supply of labor increases, it is likely that

Accepted Answer

A)  the productivity of labor will rise. 
B)  the productivity of labor will fall. 
C)  the productivity of labor will not change. 
D)  output per capita will rise. 
A)  the productivity of labor will rise. 
B)  the productivity of labor will fall. 
C)  the productivity of labor will not change. 
D)  output per capita will rise.

Question 3

If an economy experiences growth in productivity without growth in its labor force, it will grow.

Accepted Answer

A) True 
 B)False

Question 4

If a society acquires more human capital, per capita production will fall unless it gets more physical capital too.

Accepted Answer

A) True 
 B)False

Question 5

From 1996-2013, China had an average growth rate per year that was four times as high as that in the United States.

Accepted Answer

A) True 
 B)False

Question 6

A(n) ________ capital stock enhances labor productivity.

Accepted Answer

A)  devaluation of 
B)  revaluation of 
C)  decrease in 
D)  increase in 
A)  devaluation of 
B)  revaluation of 
C)  decrease in 
D)  increase in

Question 7

Refer to the information provided in Table 16.1 below to answer the questions that follow.
Table 16.1
  
-Refer to Table 16.1. During Period 2, labor productivity is equal to

Accepted Answer

A)  0.27. 
B)  0.83. 
C)  1.2. 
D)  3.67. 
A)  0.27. 
B)  0.83. 
C)  1.2. 
D)  3.67.

Question 8

Economic growth is an increase in real GDP per capita.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is not an investment in human capital?

Accepted Answer

A)  local governments begin providing free hepatitis vaccinations to any resident who wants one 
B)  the Precision Tool Company teaches all its workers how to repair all the machines in the factory 
C)  older workers return to school to update their skills 
D)  the Ferris Advertising Agency replaces its secretaries' typewriters with personal computers 
A)  local governments begin providing free hepatitis vaccinations to any resident who wants one 
B)  the Precision Tool Company teaches all its workers how to repair all the machines in the factory 
C)  older workers return to school to update their skills 
D)  the Ferris Advertising Agency replaces its secretaries' typewriters with personal computers

Question 10

If labor productivity in a steel mine is 3.5 tons per worker, then 400 steel workers with a fixed amount of capital produce

Accepted Answer

A)  87.5 tons. 
B)  1,400 tons. 
C)  1,750 tons. 
D)  4,000 tons. 
A)  87.5 tons. 
B)  1,400 tons. 
C)  1,750 tons. 
D)  4,000 tons.

Question 11

Related to the Economics in Practice on p. 308: The emigration of Jewish scientists from Germany to the United States in the late 1930s and early 1940s is an example of a(n) ________ in the United States.

Accepted Answer

A)  increase in human capital 
B)  increase in physical capital 
C)  decrease in embodied technical change 
D)  decrease in disembodied technical change 
A)  increase in human capital 
B)  increase in physical capital 
C)  decrease in embodied technical change 
D)  decrease in disembodied technical change

Question 12

The aggregate production function is the mathematical representation of the technological relationship between

Accepted Answer

A)  national output and fiscal policy. 
B)  national output and inputs. 
C)  fiscal and monetary policy changes and national output. 
D)  the rate of capital accumulation and national output. 
A)  national output and fiscal policy. 
B)  national output and inputs. 
C)  fiscal and monetary policy changes and national output. 
D)  the rate of capital accumulation and national output.

Question 13

Convergence theory seems to fit the experiences of China and India since 1996.

Accepted Answer

A) True 
 B)False

Question 14

The relation between growth, as measured in per capita income, and pollution, is

Accepted Answer

A)  an upside-down W. 
B)  a sideways S. 
C)  an inverted U. 
D)  a backwards K. 
A)  an upside-down W. 
B)  a sideways S. 
C)  an inverted U. 
D)  a backwards K.

Question 15

The Millennium Development Goals adopted by the United Nations included targets for conservation management.

Accepted Answer

A) True 
 B)False

Question 16

Higher productivity can be achieved through

Accepted Answer

A)  innovation. 
B)  new techniques of production. 
C)  a better-educated workforce. 
D)  all of the above 
A)  innovation. 
B)  new techniques of production. 
C)  a better-educated workforce. 
D)  all of the above

Question 17

Refer to the information provided in Table 16.2 below to answer the questions that follow.
Table 16.2
  
-Refer to Table 16.2. During Period 3, output per capital is equal to

Accepted Answer

A)  0.31. 
B)  1.88. 
C)  3.21. 
D)  4.5. 
A)  0.31. 
B)  1.88. 
C)  3.21. 
D)  4.5.

Question 18

Much of Southeast Asia has fueled its growth through export-led manufacturing.

Accepted Answer

A) True 
 B)False

Question 19

The growth rate of output per worker is called

Accepted Answer

A)  factor growth. 
B)  labor productivity growth. 
C)  per-capita output growth. 
D)  output growth. 
A)  factor growth. 
B)  labor productivity growth. 
C)  per-capita output growth. 
D)  output growth.

Question 20

The productivity of an input is the

Accepted Answer

A)  per capita cost of an input. 
B)  sum of the total output produced by all inputs. 
C)  net worth of the input. 
D)  amount of output produced per unit of input. 
A)  per capita cost of an input. 
B)  sum of the total output produced by all inputs. 
C)  net worth of the input. 
D)  amount of output produced per unit of input.

Exam 16: Long-Run Growth

Refer to the information provided in Table 16.2 below to answer the questions that follow. Table 16.2 -Refer to Table 16.2. During Period 3, labor productivity is equal to

If the capital stock remains fixed while the supply of labor increases, it is likely that

If an economy experiences growth in productivity without growth in its labor force, it will grow.

If a society acquires more human capital, per capita production will fall unless it gets more physical capital too.

From 1996-2013, China had an average growth rate per year that was four times as high as that in the United States.

A(n) ________ capital stock enhances labor productivity.

Refer to the information provided in Table 16.1 below to answer the questions that follow. Table 16.1 -Refer to Table 16.1. During Period 2, labor productivity is equal to

Economic growth is an increase in real GDP per capita.

Which of the following is not an investment in human capital?

If labor productivity in a steel mine is 3.5 tons per worker, then 400 steel workers with a fixed amount of capital produce

Related to the Economics in Practice on p. 308: The emigration of Jewish scientists from Germany to the United States in the late 1930s and early 1940s is an example of a(n) ________ in the United States.

The aggregate production function is the mathematical representation of the technological relationship between

Convergence theory seems to fit the experiences of China and India since 1996.

The relation between growth, as measured in per capita income, and pollution, is

The Millennium Development Goals adopted by the United Nations included targets for conservation management.

Higher productivity can be achieved through

Refer to the information provided in Table 16.2 below to answer the questions that follow. Table 16.2 -Refer to Table 16.2. During Period 3, output per capital is equal to

Much of Southeast Asia has fueled its growth through export-led manufacturing.

The growth rate of output per worker is called

The productivity of an input is the

The Scope and Method of Economics

The Economic Problem: Scarcity and Choice

Demand, Supply, and Market Equilibrium

Demand and Supply Applications

Introduction to Macroeconomics

Measuring National Output and National Income

Unemployment, Inflation, and Long-Run Growth

Aggregate Expenditure and Equilibrium Output

The Government and Fiscal Policy

Money, the Federal Reserve, and the Interest Rate

The Determination of Aggregate Output, the Price Level, and the Interest Rate

Policy Effects and Cost Shocks in the Asad Model

The Labor Market in the Macroeconomy

Financial Crises, Stabilization, and Deficits

Household and Firm Behavior in the Macroeconomy: a Further Look

Alternative Views in Macroeconomics

International Trade, Comparative Advantage, and Protectionism

Open-Economy Macroeconomics: the Balance of Payments and Exchange Rates

Economic Growth in Developing Economies

Critical Thinking About Research

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