Economic Growth and Productivity: Homework Help Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. Which is a characteristic of economic growth?

Question 2 2. What is human capital?

Question 3 3. Country A invests 25% of GDP into human capital, while Country B invests only 9%. Which country will grow faster and why?

Question 4 4. What is the standard of living?

Question 5 5. Economists define Real GDP per capita as which of the following?

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Question 6 6. Why is research and development significant?

Question 7 7. Which of the following statements is FALSE about long run economic growth?

Question 8 8. How is savings directly connected to economic growth?

Question 9 9. Which of the following is not true regarding productivity?

Question 10 10. How is labor productivity, measured as output per worker, affected by economic drivers?

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Question 11 11. Rachel manages a box factory and just hired Franco. Does Franco count as physical capital?

Question 12 12. How can the government encourage investment in human capital?

Question 13 13. Why is productivity significant to economic growth?

Question 14 14. Which of the following BEST defines technology?

Question 15 15. Which of the following will likely increase productivity in a corporation?

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Question 16 16. Which of the following is NOT a determinant of the productivity of a nation?

Question 17 17. What is the main benefit of investing in human capital?

Question 18 18. Why is physical capital important to an economy?

Question 19 19. _____ refers to the total amount of goods and services are produced within the economy.

Question 20 20. Which of the following is FALSE regarding the productivity of a nation?

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Question 21 21. In the short run, economic growth is measured in terms of which of the following?

Question 22 22. Economists call the equipment and structures used to produce goods and services:

Question 23 23. Which of the following would be considered physical capital in agriculture?

Question 24 24. Which of the following will most likely encourage long-run economic growth?

Question 25 25. Human capital refers to which of the following?

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Question 26 26. In the long run, what is a country's standard of living dependent on?

Question 27 27. Country A has a real GDP of $5,000 and a population of 20, while Country B has a real GDP of $20,000 and a population of 100. Which of the following statements is true?

Question 28 28. Which of the following is NOT an example of physical capital?

Question 29 29. Labor productivity and economic growth will increase when what happens?

Question 30 30. Why is real GDP a poor indicator of economic growth?

Economic Growth and Productivity: Homework Help Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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