Question 1

Which of the following is most likely to increase productivity growth,as measured using GDP statistics?

Accepted Answer

A) Reduced capital formation 
B) Decreased human capital 
C) Increased research and development 
D) Increased government regulation 
E) Higher price of a raw material 
A) Reduced capital formation 
B) Decreased human capital 
C) Increased research and development 
D) Increased government regulation 
E) Higher price of a raw material

Question 2

If increases in capital per worker lead to increased output per worker,but by decreasing amounts as capital increases,the per-worker production function _____.

Accepted Answer

A) is vertical 
B) has a decreasing slope 
C) has an increasing slope 
D) has a negative slope 
E) is horizontal 
A) is vertical 
B) has a decreasing slope 
C) has an increasing slope 
D) has a negative slope 
E) is horizontal

Question 3

If Q is total real output,K is capital in use,L is labor employed,an increase in the productivity of labor would imply a(n):

Accepted Answer

A) increase in K/L. 
B) increase in L/K. 
C) increase in Q/L. 
D) decrease in Q/K. 
E) decrease in (Q + K)/L. 
A) increase in K/L. 
B) increase in L/K. 
C) increase in Q/L. 
D) decrease in Q/K. 
E) decrease in (Q + K)/L.

Question 4

The figure below shows a per-worker production function.The shape of the per-worker production function illustrates the law of diminishing marginal returns to labor.

Accepted Answer

A) True 
 B)False

Question 5

Over the last 100 years,the U.S.labor productivity growth rate experienced its largest declines _____.

Accepted Answer

A) during the Great Depression 
B) in the 1940s 
C) during the 1950s 
D) during the 1980s 
E) during the 1990s 
A) during the Great Depression 
B) in the 1940s 
C) during the 1950s 
D) during the 1980s 
E) during the 1990s

Question 6

Research and development is most likely to have an impact on the _____.

Accepted Answer

A) quantity of labor available 
B) quantity of capital goods available 
C) quality of labor available 
D) quality of capital goods available 
E) use of energy 
A) quantity of labor available 
B) quantity of capital goods available 
C) quality of labor available 
D) quality of capital goods available 
E) use of energy

Question 7

The most important factor in determining a nation's standard of living in the long run is the productivity of its resources.

Accepted Answer

A) True 
 B)False

Question 8

Joe runs a pizzeria at a busy place in a city.Around 125 customers visit every day and they each buy 3 pizzas on average.Joe has employed 20 laborers to make pizzas.The productivity of one laborer per day in the pizzeria is equal to _____.

Accepted Answer

A) 6.25 pizzas per worker 
B) 18.75 pizzas per worker 
C) 6.67 pizzas per worker 
D) 41.67 pizzas per worker 
E) 20.75 pizzas per worker 
A) 6.25 pizzas per worker 
B) 18.75 pizzas per worker 
C) 6.67 pizzas per worker 
D) 41.67 pizzas per worker 
E) 20.75 pizzas per worker

Question 9

Which of the following is the best indicator of standard of living?

Accepted Answer

A) Nominal GDP 
B) Real GDP 
C) Real GDP per capita 
D) Productivity 
E) Productivity per unit of labor 
A) Nominal GDP 
B) Real GDP 
C) Real GDP per capita 
D) Productivity 
E) Productivity per unit of labor

Question 10

Productivity measures:

Accepted Answer

A) how efficiently resources are turned into goods and services. 
B) how efficiently goods and services are consumed by the consumers. 
C) the level of skills embodied in a unit of labor. 
D) the ratio of inputs to a specific amount of output. 
E) the availability of resources in an economy. 
A) how efficiently resources are turned into goods and services. 
B) how efficiently goods and services are consumed by the consumers. 
C) the level of skills embodied in a unit of labor. 
D) the ratio of inputs to a specific amount of output. 
E) the availability of resources in an economy.

Which of the following is most likely to increase productivity growth,as measured using GDP statistics?

If increases in capital per worker lead to increased output per worker,but by decreasing amounts as capital increases,the per-worker production function _____.

If Q is total real output,K is capital in use,L is labor employed,an increase in the productivity of labor would imply a(n):

The figure below shows a per-worker production function.The shape of the per-worker production function illustrates the law of diminishing marginal returns to labor.

Over the last 100 years,the U.S.labor productivity growth rate experienced its largest declines _____.

Research and development is most likely to have an impact on the _____.

The most important factor in determining a nation's standard of living in the long run is the productivity of its resources.

Joe runs a pizzeria at a busy place in a city.Around 125 customers visit every day and they each buy 3 pizzas on average.Joe has employed 20 laborers to make pizzas.The productivity of one laborer per day in the pizzeria is equal to _____.

Which of the following is the best indicator of standard of living?

Productivity measures:

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

Which of the following is most likely to increase productivity growth,as measured using GDP statistics?

If increases in capital per worker lead to increased output per worker,but by decreasing amounts as capital increases,the per-worker production function _____.

If Q is total real output,K is capital in use,L is labor employed,an increase in the productivity of labor would imply a(n):

The figure below shows a per-worker production function.The shape of the per-worker production function illustrates the law of diminishing marginal returns to labor.

Over the last 100 years,the U.S.labor productivity growth rate experienced its largest declines _____.

Research and development is most likely to have an impact on the _____.

The most important factor in determining a nation's standard of living in the long run is the productivity of its resources.

Joe runs a pizzeria at a busy place in a city.Around 125 customers visit every day and they each buy 3 pizzas on average.Joe has employed 20 laborers to make pizzas.The productivity of one laborer per day in the pizzeria is equal to _____.

Which of the following is the best indicator of standard of living?

Productivity measures:

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