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

Question 2 2. A company executive is advocating for a budget increase in _____. She states that such funding increases will promote greater productivity.

Question 3 3. Which IS an example of research and development?

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 is NOT an example of physical capital?

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

Question 8 8. Which item is an example of physical capital used in the production of goods and services?

Question 9 9. 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 10 10. When envisioning economic growth and productivity, population is a driver of:

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Question 11 11. By dividing real GDP by population, one is calculating the:

Question 12 12. An economist is carefully evaluating productivity values; she will most likely uncover that these values have an effect on _____.

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

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Question 16 16. Why is productivity significant to economic growth?

Question 17 17. Country A invests 25% of GDP into human capital, while Country B invests only 9%. Which country will grow faster and why?

Question 18 18. Economists call the equipment and structures used to produce goods and services:

Question 19 19. If GDP is calculated by both the expenditure approach and the income approach, what will be the difference in the end values?

Question 20 20. Which of the following is NOT an example of physical capital?

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Question 21 21. How is savings directly connected to economic growth?

Question 22 22. Why is fiscal policy important for the economy?

Question 23 23. Economists define Real GDP per capita as which of the following?

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

Question 25 25. What is human capital?

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Question 26 26. Which of the following is NOT a determinant of the productivity of a nation?

Question 27 27. Which of the following metrics is used when calculating GDP using the expenditure approach?

Question 28 28. Rachel manages a box factory and just hired Franco. Does Franco count as physical capital?

Question 29 29. Why is real GDP a poor indicator of economic growth?

Question 30 30. How can governments encourage savings and investment?

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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