Copyright

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!

Page 1

Question 1 1. Which is NOT an example of physical capital?

Question 2 2. The assembly line equipment used to produce an automobile would be considered:

Question 3 3. Which item is an example of physical capital used in the production of goods and services?

Question 4 4. 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 5 5. In regards to economic productivity, micromanagement is likely to:

Page 2

Question 6 6. 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?

Question 7 7. Gross private domestic investment is one of four expenditure values used in:

Question 8 8. A company executive is advocating for a budget increase in _____. She states that such funding increases will promote greater productivity.

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

Question 10 10. When envisioning economic growth and productivity, population is a driver of:

Page 3

Question 11 11. Heightened investments in research and development and natural resources, coupled with a higher savings rate, ALL increase:

Question 12 12. 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 13 13. An economist suggests that a nation's GDP has decreased. Which item is MOST likely to be responsible for this outcome?

Question 14 14. By dividing real GDP by population, one is calculating the:

Question 15 15. An economist is carefully evaluating productivity values; she will most likely uncover that these values have an effect on _____.

Page 4

Question 16 16. Human capital refers to which of the following?

Question 17 17. Why is research and development significant?

Question 18 18. Why is fiscal policy important for the economy?

Question 19 19. Labor productivity and economic growth will increase when what happens?

Question 20 20. If GDP is calculated by both the expenditure approach and the income approach, what will be the difference in the end values?

Page 5

Question 21 21. Rachel manages a box factory and just hired Franco. Does Franco count as physical capital?

Question 22 22. 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 23 23. How is savings directly connected to economic growth?

Question 24 24. Which of the following is NOT a determinant of the productivity of a nation?

Question 25 25. One way to create new technologies is by investing into _____.

Page 6

Question 26 26. How can the government encourage investment in human capital?

Question 27 27. What is human capital?

Question 28 28. What is the accounting methodology used to calculate the GDP, regardless of the approach used?

Question 29 29. Which of the following would be considered physical capital in agriculture?

Question 30 30. What is the standard of living?

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!

Economics 102: Macroeconomics  /  Business Courses
Support