Question 1

What could low productivity growth in a country suggest?

Accepted Answer

Low productivity growth could mean that

Question 2

A growing economy is non-zero-sum.

Accepted Answer

A) True 
 B)False

Question 3

In 2007,Google spent more than $2 billion on property and equipment.This is called

Accepted Answer

A)  intermediate inputs. 
B)  aggregate production investment. 
C)  investment in physical capital. 
D)  aggregate investment. 
A)  intermediate inputs. 
B)  aggregate production investment. 
C)  investment in physical capital. 
D)  aggregate investment.

Question 4

$$\begin{array}{l}
\begin{array} { | l | l | l | } 
\hline \text { Year } & \begin{array} { l } 
\text { Real GDP (in } \
\text { Billions of 2005 } \
\text { Dollars) }
\end{array} & \begin{array} { l } 
\text { Population (in } \
\text { Millions of } \
\text { People) }
\end{array} \
\hline 1999 & \$ 10,780 & 279.3 \
\hline 2000 & \$ 11,226 & 282.4 \
\hline
\end{array}\
\text { Table } 9.1
\end{array}$$ Refer to Table 9.1.What was the growth rate of real GDP per capita from 1999 to 2000?

Accepted Answer

A)  3.00%. 
B)  2.91%. 
C)  0.03%. 
D)  11.56%. 
A)  3.00%. 
B)  2.91%. 
C)  0.03%. 
D)  11.56%.

Question 5

Besides a growing workforce,how can a country boost its aggregate production?

Accepted Answer

A country can boost its aggregate produc

Question 6

On the PPF,if you have two products,health care and housing,what typically would occur in a stagnant economy if health care output increased?

Accepted Answer

A)  Housing would increase. 
B)  Housing would decrease. 
C)  Health care and housing would balance out. 
D)  Deflation would occur. 
A)  Housing would increase. 
B)  Housing would decrease. 
C)  Health care and housing would balance out. 
D)  Deflation would occur.

Question 7

The real growth rate is determined by

Accepted Answer

A)  the BEA adjusting the GDP for inflation. 
B)  the BEA using nominal rates to reflect the GDP. 
C)  the BLS adjusting the GDP per capita for inflation. 
D)  the BLS calculating price level changes and population changes. 
A)  the BEA adjusting the GDP for inflation. 
B)  the BEA using nominal rates to reflect the GDP. 
C)  the BLS adjusting the GDP per capita for inflation. 
D)  the BLS calculating price level changes and population changes.

Question 8

Real GDP is usually measured in

Accepted Answer

A)  2005 dollars. 
B)  Units of output. 
C)  1982-1984 dollars. 
D)  Tons (for goods) and hours (for services). 
A)  2005 dollars. 
B)  Units of output. 
C)  1982-1984 dollars. 
D)  Tons (for goods) and hours (for services).

Question 9

GDP and real GDP are ways to measure

Accepted Answer

A)  inflation. 
B)  disinflation. 
C)  economic output. 
D)  market equilibrium. 
A)  inflation. 
B)  disinflation. 
C)  economic output. 
D)  market equilibrium.

Question 10

The GDP does not include things such as

Accepted Answer

A)  economic growth. 
B)  productivity. 
C)  global warming's impact on the economy. 
D)  goods and services. 
A)  economic growth. 
B)  productivity. 
C)  global warming's impact on the economy. 
D)  goods and services.

Question 11

Without economic growth,

Accepted Answer

A)  we would have a zero-sum economy. 
B)  we would have a non-zero-sum economy. 
C)  standards of living would rise only as the population increased. 
D)  the production possibility curve would shift outward. 
A)  we would have a zero-sum economy. 
B)  we would have a non-zero-sum economy. 
C)  standards of living would rise only as the population increased. 
D)  the production possibility curve would shift outward.

Question 12

What is the economic definition of productivity?

Accepted Answer

Productivity is the real GDP o

Question 13

Productivity is a key concept for measuring

Accepted Answer

A)  aggregate production function. 
B)  the health and prosperity of an economy. 
C)  average inflation rates. 
D)  employment levels. 
A)  aggregate production function. 
B)  the health and prosperity of an economy. 
C)  average inflation rates. 
D)  employment levels.

Question 14

The era of rapid productivity growth known as the "Golden Age" came to an end in

Accepted Answer

A)  2010. 
B)  1995. 
C)  1947. 
D) 1973 
A)  2010. 
B)  1995. 
C)  1947. 
D) 1973

Question 15

Identifying real GDP growth requires

Accepted Answer

A)  measuring all the items that go into the GDP, and then adjusting for inflation. 
B)  measuring the CPI after adjusting for inflation. 
C)  measuring the GDP with current-year prices. 
D)  estimating the GDP based on unadjusted price levels. 
A)  measuring all the items that go into the GDP, and then adjusting for inflation. 
B)  measuring the CPI after adjusting for inflation. 
C)  measuring the GDP with current-year prices. 
D)  estimating the GDP based on unadjusted price levels.

Question 16

The golden age of prosperity for productivity in the United States was from World War II to 1973,when productivity rose at an average rate of _____ per year.

Accepted Answer

A)  2.8% 
B)  2.1% 
C)  5.0% 
D)  1.4% 
A)  2.8% 
B)  2.1% 
C)  5.0% 
D)  1.4%

Question 17

$$\begin{array}{l}
\begin{array} { | l | l | l | } 
\hline \text { Year } & \begin{array} { l } 
\text { Real GDP (in } \
\text { Billions of 2005 } \
\text { Dollars) }
\end{array} & \begin{array} { l } 
\text { Population (in } \
\text { Millions of } \
\text { People) }
\end{array} \
\hline 1999 & \$ 10,780 & 279.3 \
\hline 2000 & \$ 11,226 & 282.4 \
\hline
\end{array}\
\text { Table } 9.1
\end{array}$$ Refer to Table 9.1.What was the growth rate of real GDP between 1999 and 2000?

Accepted Answer

A)  4.1%. 
B)  1.1%. 
C)  3.0%. 
D)  2.6%. 
A)  4.1%. 
B)  1.1%. 
C)  3.0%. 
D)  2.6%.

Question 18

Which does an expanding economy NOT do?

Accepted Answer

A)  Free up resources for the public sector. 
B)  Boost living standards for the poor. 
C)  Create a lower real GDP. 
D)  Allow the middle class to enjoy more luxuries. 
A)  Free up resources for the public sector. 
B)  Boost living standards for the poor. 
C)  Create a lower real GDP. 
D)  Allow the middle class to enjoy more luxuries.

Question 19

Which of the following is a potential downside of economic growth?

Accepted Answer

A)  People may become too happy. 
B)  If the economy grows too quickly, standards of living may rise too quickly for people to notice. 
C)  Economic growth tends to lead to more and more government corruption. 
D)  It is possible that economic growth can have a negative impact on the environment. 
A)  People may become too happy. 
B)  If the economy grows too quickly, standards of living may rise too quickly for people to notice. 
C)  Economic growth tends to lead to more and more government corruption. 
D)  It is possible that economic growth can have a negative impact on the environment.

Question 20

Which of the following is NOT an example of an increased standard of living?

Accepted Answer

A)  Lower life expectancy. 
B)  Indoor plumbing. 
C)  Medical advances. 
D)  Telephones in every home. 
A)  Lower life expectancy. 
B)  Indoor plumbing. 
C)  Medical advances. 
D)  Telephones in every home.

What could low productivity growth in a country suggest?

A growing economy is non-zero-sum.

In 2007,Google spent more than $2 billion on property and equipment.This is called

Year Real GDP (in Billions of 2005 Dollars) Population (in Millions of People) 1999 \ 10,780 279.3 2000 \ 11,226 282.4 Table 9.1 Refer to Table 9.1.What was the growth rate of real GDP per capita from 1999 to 2000?

Besides a growing workforce,how can a country boost its aggregate production?

On the PPF,if you have two products,health care and housing,what typically would occur in a stagnant economy if health care output increased?

The real growth rate is determined by

Real GDP is usually measured in

GDP and real GDP are ways to measure

The GDP does not include things such as

Without economic growth,

What is the economic definition of productivity?

Productivity is a key concept for measuring

The era of rapid productivity growth known as the "Golden Age" came to an end in

Identifying real GDP growth requires

The golden age of prosperity for productivity in the United States was from World War II to 1973,when productivity rose at an average rate of _____ per year.

Year Real GDP (in Billions of 2005 Dollars) Population (in Millions of People) 1999 \ 10,780 279.3 2000 \ 11,226 282.4 Table 9.1 Refer to Table 9.1.What was the growth rate of real GDP between 1999 and 2000?

Which does an expanding economy NOT do?

Which of the following is a potential downside of economic growth?

Which of the following is NOT an example of an increased standard of living?

Introduction

Demand and Supply: The Basics of the Market Economy

Market Equilibrium and Shifts

How Businesses Work

Competition and Market Power

Government and the Economy

The First Step Into Macroeconomics

Inflation

Business Cycles, unemployment and Inflation

Fiscal Policy

Monetary Policy

The Financial Markets

International Trade

Technological Change

Economics of the Labor Market

The Distribution of Income

Economics of Retirement and Healthcare

Economics of Energy, the Environment, and Global Climate Change Glossary

Filters

Exam 9: Growth

What could low productivity growth in a country suggest?

A growing economy is non-zero-sum.

In 2007,Google spent more than $2 billion on property and equipment.This is called

Year Real GDP (in Billions of 2005 Dollars) Population (in Millions of People) 1999 \ 10,780 279.3 2000 \ 11,226 282.4 Table 9.1 Refer to Table 9.1.What was the growth rate of real GDP per capita from 1999 to 2000?

Besides a growing workforce,how can a country boost its aggregate production?

On the PPF,if you have two products,health care and housing,what typically would occur in a stagnant economy if health care output increased?

The real growth rate is determined by

Real GDP is usually measured in

GDP and real GDP are ways to measure

The GDP does not include things such as

Without economic growth,

What is the economic definition of productivity?

Productivity is a key concept for measuring

The era of rapid productivity growth known as the "Golden Age" came to an end in

Identifying real GDP growth requires

The golden age of prosperity for productivity in the United States was from World War II to 1973,when productivity rose at an average rate of _____ per year.

Year Real GDP (in Billions of 2005 Dollars) Population (in Millions of People) 1999 \ 10,780 279.3 2000 \ 11,226 282.4 Table 9.1 Refer to Table 9.1.What was the growth rate of real GDP between 1999 and 2000?

Which does an expanding economy NOT do?

Which of the following is a potential downside of economic growth?

Which of the following is NOT an example of an increased standard of living?

Introduction

Demand and Supply: The Basics of the Market Economy

Market Equilibrium and Shifts

How Businesses Work

Competition and Market Power

Government and the Economy

The First Step Into Macroeconomics

Inflation

Business Cycles, unemployment and Inflation

Fiscal Policy

Monetary Policy

The Financial Markets

International Trade

Technological Change

Economics of the Labor Market

The Distribution of Income

Economics of Retirement and Healthcare

Economics of Energy, the Environment, and Global Climate Change Glossary

Filters