Growth & Productivity in Economics 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. What is the main benefit of investing in human capital?

Question 2 2. Labor productivity and economic growth will increase when what happens?

Question 3 3. Which of the following would be considered physical capital in agriculture?

Question 4 4. In the short run, economic growth is measured in terms of which of the following?

Question 5 5. In the long run, what is a country's standard of living dependent on?

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Question 6 6. Which of the following is MOST likely to produce higher economic growth in the long run?

Question 7 7. Which is a characteristic of economic growth?

Question 8 8. Why is real GDP a poor indicator of economic growth?

Question 9 9. 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 10 10. Which one of the following scenarios would cause a nation's standard of living to increase?

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Question 11 11. Country A invests 25% of GDP into human capital, while Country B invests only 9%. Which country will grow faster and why?

Question 12 12. Which of the following is FALSE regarding the productivity of a nation?

Question 13 13. Which of the following BEST defines technology?

Question 14 14. How is labor productivity, measured as output per worker, affected by economic drivers?

Question 15 15. Which of the following is not true regarding productivity?

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Question 16 16. How can the government encourage investment in human capital?

Question 17 17. How can governments encourage savings and investment?

Question 18 18. Which of the following will most likely occur as a result of an increase in labor productivity?

Question 19 19. Labor productivity and economic growth will increase when nations

Question 20 20. Which of the following is NOT a determinant of the productivity of a nation?

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Question 21 21. Economists call the equipment and structures used to produce goods and services:

Question 22 22. Why is physical capital important to an economy?

Question 23 23. Why is productivity significant to economic growth?

Question 24 24. Which of the following will likely increase productivity in a corporation?

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

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Question 26 26. What is human capital?

Question 27 27. Why is research and development significant?

Question 28 28. How is savings directly connected to economic growth?

Question 29 29. Human capital refers to which of the following?

Question 30 30. Economists define Real GDP per capita as which of the following?

Growth & Productivity in Economics 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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