Question 1

Basic research seeks to answer specific questions or to apply scientific discoveries to the development of specific products.

Accepted Answer

A) True 
 B)False

Question 2

The output per capita of a country is equal to _____.

Accepted Answer

A) its population divided by its GDP 
B) its GDP divided by its population 
C) its population divided by its GNP 
D) its GNP divided by its population 
E) its GDP divided by the total value of capital available 
A) its population divided by its GDP 
B) its GDP divided by its population 
C) its population divided by its GNP 
D) its GNP divided by its population 
E) its GDP divided by the total value of capital available

Question 3

_____ can temporarily create dislocations as displaced workers try to find jobs elsewhere and,at the same time,make existing products more affordable.

Accepted Answer

A) Technological change 
B) Changes in the rate of interest 
C) Population changes 
D) Changes in the price level 
E) An increase in public expenditure 
A) Technological change 
B) Changes in the rate of interest 
C) Population changes 
D) Changes in the price level 
E) An increase in public expenditure

Question 4

The impact of computers on U.S.productivity growth:

Accepted Answer

A) has been disappointingly small-about one-half percentage point annually between 1972 and 1996. 
B) has been dramatic,contributing to significant growth during the early years of the 21st century. 
C) has been significant in the health care sector but not elsewhere. 
D) has actually been negative in most industries. 
E) was greater during the period 1972-1990 than it has been since that time. 
A) has been disappointingly small-about one-half percentage point annually between 1972 and 1996. 
B) has been dramatic,contributing to significant growth during the early years of the 21st century. 
C) has been significant in the health care sector but not elsewhere. 
D) has actually been negative in most industries. 
E) was greater during the period 1972-1990 than it has been since that time.

Question 5

If the ratio of labor to capital increases,we can expect that labor productivity will increase.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following was the average yearly increase in U.S.labor productivity growth between the 1870s and the early years of the 21st century?

Accepted Answer

A) About 1 percent 
B) About 2 percent 
C) About 5 percent 
D) About 10 percent 
E) Between 0 and 1 percent 
A) About 1 percent 
B) About 2 percent 
C) About 5 percent 
D) About 10 percent 
E) Between 0 and 1 percent

Question 7

A small change in the rate of productivity growth will have:

Accepted Answer

A) a small impact on output in both the short run and the long run. 
B) a large impact on output in both the short run and the long run. 
C) a small impact on output in the short run but a large impact in the long run. 
D) a large impact on output in the short run but a small impact in the long run. 
E) no effect on output at all. 
A) a small impact on output in both the short run and the long run. 
B) a large impact on output in both the short run and the long run. 
C) a small impact on output in the short run but a large impact in the long run. 
D) a large impact on output in the short run but a small impact in the long run. 
E) no effect on output at all.

Question 8

A water bottle manufacturing plant uses a three-step procedure to produce each unit of bottle.The first step is casting,which needs 35 workers to operate the furnace.The second step is quenching,which needs 35 workers.At the third step,bottles are prepared for dispatch in the assembly line with the help of 70 workers.If the factory produces 14,000 bottles per day,then the productivity of labor in the factory is equal to _____.

Accepted Answer

A) 200 bottles per worker 
B) 400 bottles per worker 
C) 100 bottles per worker 
D) 140 bottles per worker 
E) 220 bottles per worker 
A) 200 bottles per worker 
B) 400 bottles per worker 
C) 100 bottles per worker 
D) 140 bottles per worker 
E) 220 bottles per worker

Question 9

Which of the following factors of production is likely to be most productive?

Accepted Answer

A) A certified doctor working in a well-equipped hospital 
B) A medical student working as a volunteer in a rural health clinic 
C) A trained nurse without access to the latest medical technology 
D) A knowledgeable chemist without a degree in medical sciences 
E) A specialist doctor working in a hospital with poor infrastructure 
A) A certified doctor working in a well-equipped hospital 
B) A medical student working as a volunteer in a rural health clinic 
C) A trained nurse without access to the latest medical technology 
D) A knowledgeable chemist without a degree in medical sciences 
E) A specialist doctor working in a hospital with poor infrastructure

Question 10

If population increases,which of the following will be true?

Accepted Answer

A) GDP will increase. 
B) GDP per capita will fall at a faster rate than the increase in population. 
C) GDP must increase if the same standard of living is to be maintained. 
D) The labor force must increase if the same standard of living is to be maintained. 
E) Overall demand will increase,but per capita aggregate demand will remain constant. 
A) GDP will increase. 
B) GDP per capita will fall at a faster rate than the increase in population. 
C) GDP must increase if the same standard of living is to be maintained. 
D) The labor force must increase if the same standard of living is to be maintained. 
E) Overall demand will increase,but per capita aggregate demand will remain constant.

Question 11

The growing use of computers led to a substantial increase in the overall U.S.productivity growth from 1995 to 2005.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following could cause the production possibilities frontier to shift to the right?

Accepted Answer

A) More government regulation that stunts economic growth 
B) Changes in the rules of the game that stunt economic growth 
C) Lower quality resources 
D) Fewer productive resources 
E) Production of more capital goods and fewer consumer goods 
A) More government regulation that stunts economic growth 
B) Changes in the rules of the game that stunt economic growth 
C) Lower quality resources 
D) Fewer productive resources 
E) Production of more capital goods and fewer consumer goods

Question 13

Empirical evidence suggests that:

Accepted Answer

A) technological change leads to higher unemployment rates. 
B) the unemployment rate in the U.S.in the late 1990s was lower than that in the 1970s. 
C) the unemployment rate in the U.S.in the late 1990s was higher than that in the 1970s. 
D) changes in the growth rate of population lead to higher unemployment rates. 
E) increase in government regulation leads to higher unemployment rates. 
A) technological change leads to higher unemployment rates. 
B) the unemployment rate in the U.S.in the late 1990s was lower than that in the 1970s. 
C) the unemployment rate in the U.S.in the late 1990s was higher than that in the 1970s. 
D) changes in the growth rate of population lead to higher unemployment rates. 
E) increase in government regulation leads to higher unemployment rates.

Question 14

Which of the following is likely to cause a decrease in labor productivity?

Accepted Answer

A) An increase in student achievement scores 
B) A service sector that is growing slower than the growth rate of GDP 
C) An increased spending on research and development 
D) A decrease in capital formation 
E) A low federal budget deficit 
A) An increase in student achievement scores 
B) A service sector that is growing slower than the growth rate of GDP 
C) An increased spending on research and development 
D) A decrease in capital formation 
E) A low federal budget deficit

Question 15

Industrial market countries make up about _____ of the world population but produce more than _____ of the world's output.

Accepted Answer

A) 16 percent;50 percent 
B) 40 percent;75 percent 
C) 40 percent;58 percent 
D) 55 percent;65 percent 
E) 38 percent;55 percent 
A) 16 percent;50 percent 
B) 40 percent;75 percent 
C) 40 percent;58 percent 
D) 55 percent;65 percent 
E) 38 percent;55 percent

Question 16

Labor productivity tends to fall as the capital to labor ratio rises.

Accepted Answer

A) True 
 B)False

Question 17

The only way standard of living can increase is through increases in labor productivity.

Accepted Answer

A) True 
 B)False

Question 18

A group of musicians performing at a concert for charity in New York is an example of a cluster in economics.

Accepted Answer

A) True 
 B)False

Question 19

When firms in the same industry locate in the same geographic region,it is known as dumping.

Accepted Answer

A) True 
 B)False

Question 20

Between the 1880s and the early 21st century,U.S.productivity increased at a constant annual rate.

Accepted Answer

A) True 
 B)False

Basic research seeks to answer specific questions or to apply scientific discoveries to the development of specific products.

The output per capita of a country is equal to _____.

_____ can temporarily create dislocations as displaced workers try to find jobs elsewhere and,at the same time,make existing products more affordable.

The impact of computers on U.S.productivity growth:

If the ratio of labor to capital increases,we can expect that labor productivity will increase.

Which of the following was the average yearly increase in U.S.labor productivity growth between the 1870s and the early years of the 21st century?

A small change in the rate of productivity growth will have:

Which of the following factors of production is likely to be most productive?

If population increases,which of the following will be true?

The growing use of computers led to a substantial increase in the overall U.S.productivity growth from 1995 to 2005.

Which of the following could cause the production possibilities frontier to shift to the right?

Empirical evidence suggests that:

Which of the following is likely to cause a decrease in labor productivity?

Industrial market countries make up about _ of the world population but produce more than _ of the world's output.

Labor productivity tends to fall as the capital to labor ratio rises.

The only way standard of living can increase is through increases in labor productivity.

A group of musicians performing at a concert for charity in New York is an example of a cluster in economics.

When firms in the same industry locate in the same geographic region,it is known as dumping.

Between the 1880s and the early 21st century,U.S.productivity increased at a constant annual rate.

The Art and Science of Economic Analysis

Some Tools of Economic Analysis

Economic Decision Makers

Demand, Supply, and Markets

Introduction to Macroeconomics

Tracking the U S Economy

Unemployment and Inflation

Aggregate Demand

Aggregate Supply

Fiscal Policy

Federal Budgets and Public Policy

Money and the Financial System

Banking and the Money Supply

Monetary Theory and Policy

The Policy Debate: Active or Passive

International Trade

International Finance

Economic Development

Filters

Exam 8: Us Productivity and Growth

Basic research seeks to answer specific questions or to apply scientific discoveries to the development of specific products.

The output per capita of a country is equal to _____.

_____ can temporarily create dislocations as displaced workers try to find jobs elsewhere and,at the same time,make existing products more affordable.

The impact of computers on U.S.productivity growth:

If the ratio of labor to capital increases,we can expect that labor productivity will increase.

Which of the following was the average yearly increase in U.S.labor productivity growth between the 1870s and the early years of the 21st century?

A small change in the rate of productivity growth will have:

Which of the following factors of production is likely to be most productive?

If population increases,which of the following will be true?

The growing use of computers led to a substantial increase in the overall U.S.productivity growth from 1995 to 2005.

Which of the following could cause the production possibilities frontier to shift to the right?

Empirical evidence suggests that:

Which of the following is likely to cause a decrease in labor productivity?

Industrial market countries make up about _____ of the world population but produce more than _____ of the world's output.

Labor productivity tends to fall as the capital to labor ratio rises.

The only way standard of living can increase is through increases in labor productivity.

A group of musicians performing at a concert for charity in New York is an example of a cluster in economics.

When firms in the same industry locate in the same geographic region,it is known as dumping.

Between the 1880s and the early 21st century,U.S.productivity increased at a constant annual rate.

The Art and Science of Economic Analysis

Some Tools of Economic Analysis

Economic Decision Makers

Demand, Supply, and Markets

Introduction to Macroeconomics

Tracking the U S Economy

Unemployment and Inflation

Aggregate Demand

Aggregate Supply

Fiscal Policy

Federal Budgets and Public Policy

Money and the Financial System

Banking and the Money Supply

Monetary Theory and Policy

The Policy Debate: Active or Passive

International Trade

International Finance

Economic Development

Filters

Industrial market countries make up about _ of the world population but produce more than _ of the world's output.