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Pre-Test chapter 16 ed17Multiple choice Questions1. Suppose complete output (real GDP) is $4000 and labor productivity is 8. We have the right to conclude that: A. Genuine GDP per capita have to be $500. B. The price-level index need to be greater than 100. C. In the name GDP need to be $500. D. The number of worker-hours should be 500.2. Proponents of economic growth make every one of the following arguments except: A. Growth is the basic method of boosting living standards. B. The is less complicated to reduce poverty when the economic situation is cultivation than when it is not. C. There is a straight relationship between a farming real GDP and also rising pollution. D. Development provides an financial environment favorable to education and self-fulfillment.3. If the secular trend of labor efficiency is 3 percent per year, the number of years that it will take for the standard of living to double will it is in about: A. 15 years. B. 17 years. C. 20 years. D. 23 years.4. A rightward change of a nation"s long-run accumulation supply curve is indistinguishable to: A. A rightward transition of the nation"s accumulation demand curve. B. A downward shift of the nation"s aggregate expenditures curve. C. A rightward change of the nation"s investment demand curve. D. An outward transition of the nation"s manufacturing possibilities curve.Prof save Econ Chap 16 ed 17 Pre test Chap 16Page 1 that 7 5. Refer to the above diagram. Expect that in a particular year the long-run and also short-run accumulation supply curves shift from AS1 and also AS"1 to AS2 and also AS"2. If the accumulation demand curve likewise shifts rightward from AD1 to AD2, the rates of financial growth and also inflation because that the year will be: A. 4 percent each. B. 6 percent and also 5 percent, respectively. C. 8 percent and 3 percent, respectively. D. 5 percent and also 8 percent, respectively.6. Describe the over diagram. Realized economic growth is finest represented by a: A. Shift in the production possibilities curve from ab to CD. B. Relocate from X on ab to Y on CD. C. Change in the manufacturing possibilities curve native CD to AB. D. Relocate from X to Z along AB.7. Describe the above diagram. The shifts in long-run and also short-run aggregate supply curve from AS1 and also AS"1 to AS2 and also AS"2 would most likely result from: A. An increase in the price level. B. A palliation in accumulation demand. C. An innovation in technology. D. Destruction of the infrastructure.8. The see that the trend price of U.S. Productivity growth sped up between 1995 and 2005 is closely connected with the: A. Idea the the new Economy. B. Distinction between short-run and long-run accumulation supply. C. Idea of the invisible hand. D. Concept of to compare advantage.Prof keep Econ Chap 16 ed 17 Pre test Chap 16Page 2 of 7 9. Empirical studies imply that: A. Labor productivity has declined throughout U.S. History. B. Genuine GDP per capita in the United says grew about 2.3 percent every year in between 1950 and 2005. C. The achieve of economic situations of scale is the most necessary factor in U.S. Economic growth. D. The U.S."s actual GDP has actually grown the slowest the all developed nations, an especially since 1995.10. (Consider This) The main suggest of the think about This box around hypothetical countries Alpha, Bravo, and Charlie is that over several years differing: A. Inflation rates create big differences in real GDP every capita. B. Economic growth rates create large differences in genuine GDP per capita. C. Ratios the defense spending to GDP create large differences in genuine GDP per capita. D. Unemployment rates create large differences in genuine GDP every capita.11. All of the following are sources of increasing returns and also economies of scale except: A. Network effects. B. The multiplier effect. C. Learning-by-doing. D. Coincided consumption.12. The percentage of the working-age populace in the labor pressure (= work + official unemployed) is dubbed the: A. Labor pressure participation rate. B. Employment-population ratio. C. Work-activity rate. D. Work-nonwork ratio.13. Boosts in the value of a product to each user, consisting of existing users, as the total number of users rises are called: A. Information cascades. B. Learning effects. C. Network effects. D. Scale economies.14. Other things equal, which of the complying with would increase the price of economic growth, as measured by alters in real GDP? A. A decrease in the average length of the job-related week. B. A to decrease in the labor pressure participation rate. C. An increase in the size of the working period population. D. A decline in the amount of resources per worker.15. (Last Word) expansion of real per capita income and China has actually largely result from: A. Raised use of technology and enhanced technology. B. Population decline. C. Lessened unemployment rates. D. Its trade deficit through the joined States.Prof store Econ Chap 16 ed 17 Pre test Chap 16Page 3 of 7 16. Various other things equal, i m sorry of the following would diminish the rate of economic growth, as measured by transforms in actual GDP? A. Boost in the education attainment the the labor pressure B. A long-term decrease in frictional joblessness C. Boost in the lot of capital per worker D. A diminish in the labor pressure participation rate.17. Advocates of the idea the a brand-new Economy say that: A. The United claims is beginning an era the high structure unemployment due to rapid technological change. B. Technical advance creates its own supply, which in turn creates its own demand. C. Developments in computers and also communications, together with an international capitalism, are greatly an enhancing U.S. Productivity and the economy"s potential financial growth rate. D. Technical change will need more central planning and also government regulation.18. (Consider This) end the previous several decades, the portion of women in the paid U.S. Workforce has: A. Boosted in spite of declining wages because that women. B. Decreased due to the fact that relatively much more women space staying residence to raise their children. C. Raised due to greater wages, expanded job accessibility, changing preferences and attitudes, and other factors. D. Increased for unmarried women, but decreased for married women.19. Mean that one economy"s job productivity and also total worker-hours each thrived by 4 percent between year 1 and also year 2. We could conclude the this economy"s: A. Long-run accumulation supply curve shifted to the left. B. Genuine GDP continued to be constant. C. Production possibilities curve change outward. D. Capital stock increased by 4 percent.Use the list below to prize the complying with questions: 1. Enhancements in modern technology 2. Boosts in the it is provided (stock) of resources goods 3. Purchases of expanding output. 4. Obtaining the optimal combination of goods, each at least-cost production 5. Rises in the quantity and also quality of natural resources 6. Increases in the quantity and quality of person resources20. Refer to the above list. As distinct from the supply factors and demand element of financial growth, the effectiveness factor of financial growth is: A. 1 only. B. 4 only. C. 1 and also 3 only. D. 3 only.Prof save Econ Chap 16 ed 17 Pre check Chap 16Page 4 the 7 21. Which of the following is a true statement? A. Financial experts who support financial growth say that it is the most helpful route to the greater standards that living the the vast bulk of human being desire. B. Adherents of the view that the United states has accomplished a brand-new Economy complete that the organization cycle is dead. C. Most economists believe that rises in genuine GDP actually develop decreases in as whole economic well-being because of spillover costs. D. Mainstream economists disagree as whether the rate or productivity growth was greater between 1995 and also 2005 than between 1973 and also 1995.22. Which set of items in the above list would transition an economy"s manufacturing possibilities curve outward? A. 2, 5, and 6 only. B. 2, 4, 5, and 6 only. C. 1, 2, 5, and 6 only. D. 1, 3, 4 only.23. Network results are: A. Increases in the value of a product to each user, consisting of existing users, together the total number of users rises. B. To reduce in every unit production cost as firms discover by doing. C. Rises in need resulting from commodities being discussed positively in a tv program. D. The adjust in real GDP resulting from a change in investment or government spending.24. I m sorry of the adhering to statements is correct? A. In between 1950 and 2005, U.S. Genuine GDP grew about 2.3 percent every year and real GDP per capita grew around 3.5 percent per year. B. Between 1950 and also 2005, U.S. Real GDP grew about 3.5 percent per year and also real GDP per capita grew about 2.3 percent every year. C. In between 1950 and 2005, U.S. Genuine GDP and also real GDP per capita both grew about 4 percent every year. D. Between 1950 and also 2005, U.S. Real GDP and also real GDP per capita both grew approximately 1 percent every year.25. Suppose that an economy"s job productivity and also total worker-hours each grew by 3 percent between year 1 and year 2. We might conclude the this economy"s: A. Real GDP continued to be constant. B. Funding stock raised by 3 percent. C. Production possibilities curve change inward. D. Long-run aggregate supply curve shifted to the right.Prof store Econ Chap 16 ed 17 Pre test Chap 16Page 5 that 7 26. Describe the above graphs. Development of production capacity is presented by: A. The shift from abdominal muscle to CD only. B. The transition from X come Y only. C. Both the change from abdominal muscle to CD and the shift from X come Y. D. Both the change from abdominal muscle to CD and the shift from Y to X.27. Movie critics of economic growth: A. Compete that growth and also industrialization mitigate pollution. B. Argue that economic growth walk not deal with socioeconomic troubles such as revenue inequality. C. Allude out that expansion results in greater economic security because that workers. D. Say the its benefits accrue nearly exclusively to white males.28. Which of the adhering to is the largest contributor come the growth of labor productivity in the joined States? A. Technological advance B. Education and training of labor C. Economies of range D. Improved source allocation29. Suppose that one economy"s labor performance rose through 3 percent and its complete worker-hours remained consistent between year 1 and year 2. We might conclude that this economy"s: A. Capital stock increased. B. Actual GDP increased. C. Production possibilities curve shifted inward. D. Long-run accumulation supply curve shifted to the left.Prof store Econ Chap 16 ed 17 Pre check Chap 16Page 6 that 7 30. If the secular tendency of labor performance rises indigenous 2 percent per year come 4 percent, the variety of years the it will take because that the standard of living to twin will decline by about: A. 5 years. B. 10 years. C. 17 years. D. 23 years.Pre-Test thing 16 ed17 vital 1. D 2. C 3. D 4. D 5. D 6. B 7. C 8. A 9. B 10. B11. B 12. A 13. C 14. C 15. A 16. D 17. C 18. C 19. C 20. BProf store Econ Chap 16 ed 17 Pre test Chap 1621. A 22. C 23. A 24. B 25. D 26. C 27. B 28. A 29.

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