Economic Growth and Productivity 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. You are presented with a case study where it's stated that standard of living has increased. What value MOST likely increased to cause this change?

Question 2 2. An economist is carefully evaluating productivity values; she will most likely uncover that these values have an effect on _____.

Question 3 3. An economist suggests that a nation's GDP has decreased. Which item is MOST likely to be responsible for this outcome?

Question 4 4. Gross private domestic investment is one of four expenditure values used in:

Question 5 5. Your economics professor is covering a unit in class where she's discussing calculating GDP by either using expenditure approach or income approach. What unit is she MOST likely covering?

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Question 6 6. Which item is an example of physical capital used in the production of goods and services?

Question 7 7. The assembly line equipment used to produce an automobile would be considered:

Question 8 8. Which is NOT an example of physical capital?

Question 9 9. Which IS an example of research and development?

Question 10 10. A company executive is advocating for a budget increase in _____. She states that such funding increases will promote greater productivity.

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Question 11 11. In regards to economic productivity, micromanagement is likely to:

Question 12 12. A recruit at a new job is asked by an interviewer, 'Tell me about your human capital accomplishments.' Which item would the interviewer want the interviewee to discuss?

Question 13 13. By dividing real GDP by population, one is calculating the:

Question 14 14. Heightened investments in research and development and natural resources, coupled with a higher savings rate, ALL increase:

Question 15 15. When envisioning economic growth and productivity, population is a driver of:

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Question 16 16. Which one of the following scenarios would cause a nation's standard of living to increase?

Question 17 17. Why is productivity significant to economic growth?

Question 18 18. Which of the following statements is FALSE about long run economic growth?

Question 19 19. Why is fiscal policy important for the economy?

Question 20 20. Which of the following metrics is used when calculating GDP using the expenditure approach?

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Question 21 21. Which of the following is NOT a determinant of the productivity of a nation?

Question 22 22. What is the main benefit of investing in human capital?

Question 23 23. Rachel manages a box factory and just hired Franco. Does Franco count as physical capital?

Question 24 24. 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 25 25. Which of the following is FALSE regarding the productivity of a nation?

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Question 26 26. In the short run, economic growth is measured in terms of which of the following?

Question 27 27. Which of the following will most likely encourage long-run economic growth?

Question 28 28. Which of the following metrics is used when calculating GDP using the income approach?

Question 29 29. How is labor productivity, measured as output per worker, affected by economic drivers?

Question 30 30. Labor productivity and economic growth will increase when what happens?

Economic Growth and Productivity 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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