AP Economics Ch. 8

86 Questions  I  By Hookemhorns6767 on February 29, 2012

  
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1.  Which of the following is a measure of economic growth that is most useful for measuring political preeminence?
A.
B.
C.
D.
2.  Which of the following is a measure of economic growth that is most useful for comparing living standards?
A.
B.
C.
D.
3.  A nation's real GDP was $250 billion in 2009 and $265 billion in 2010. Its population was 120 million in 2009 and 125 million in 2010. What was the real GDP growth rate in 2010?
A.
B.
C.
D.
4.  A nation's real GDP was $250 billion in 2009 and $265 billion in 2010. Its population was 120 million in 2009 and 125 million in 2010. What is its real GDP per capita in 2010?
A.
B.
C.
D.
5.  A nation's real GDP was $250 billion in 2009 and $265 billion in 2010. Its population was 122 million in 2009 and 125 million in 2010. What is the growth rate of real GDP per capita in 2010?
A.
B.
C.
D.
6.  Nation A's real GDP was $520 billion in 2009 and $550 billion in 2010. Its population was 150 million in 2009 and 155 million in 2010. On the other hand, Nation B's real GDP was $200 billion in 2009 and $210 billion in 2010; and its population was 53 million in 2009 and 55 million in 2010. Which of the following statements is true?
A.
B.
C.
D.
7.  Nation A's real GDP was $520 billion in 2009 and $550 billion in 2010. Its population was 150 million in 2009 and 155 million in 2010. On the other hand, Nation B's real GDP was $200 billion in 2009 and $210 billion in 2010; and its population was 53 million in 2009 and 55 million in 2010. Which of the following statements is true?
A.
B.
C.
D.
8.  Nation A's real GDP was $520 billion in 2009 and $550 billion in 2010. Its population was 150 million in 2009 and 155 million in 2010. On the other hand, Nation B's real GDP was $200 billion in 2009 and $210 billion in 2010; and its population was 53 million in 2009 and 55 million in 2010. Which of the following statements is true?
A.
B.
C.
D.
9.  The "rule of 70" is a formula for determining the approximate number of:
A.
B.
C.
D.
10.  A nation's average annual real GDP growth rate is 2.5%. Based on the "rule of 70", the approximate number of years it would take for this nation's real GDP to double is:
A.
B.
C.
D.
11.  Consider two scenarios for a nation's economic growth. Scenario A has real GDP growing at an average annual rate of 3.5%; scenario B has an average annual growth of 4.5%. The nation's real GDP would double in about:
A.
B.
C.
D.
12.  Economic growth in the U.S. since 1950 has been characterized by:
A.
B.
C.
D.
13.  At what average annual rate has real GDP and real GDP per capita, respectively, grown from 1950 to 2009?
A.
B.
C.
D.
14.  The following factors tend to make the real GDP growth rate understate the growth of economic well-being, except:
A.
B.
C.
D.
15.  Economic historians identify which item as a major factor that started the Industrial Revolution in Britain?
A.
B.
C.
D.
16.  Which of the following does not correctly characterize modern economic growth?
A.
B.
C.
D.
17.  In the modern economic growth process, it is typical to find that:
A.
B.
C.
D.
18.  Growth-promoting institutional structures include the following, except: 
A.
B.
C.
D.
19.  Patents and copyrights foster the flow of:
A.
B.
C.
D.
20.  Efficient financial institutions foster the flow of:
A.
B.
C.
D.
21.  Supply factors in economic growth include the following, except:
A.
B.
C.
D.
22.  Which of the following is best considered a demand factor in economic growth?
A.
B.
C.
D.
23.  Which of the following is a demand factor in economic growth?
A.
B.
C.
D.
24.  Which of the following is the so-called efficiency factor of economic growth?
A.
B.
C.
D.
25.  Economic growth can best be portrayed as a:
A.
B.
C.
D.
26.  Assume a nation's current production possibilities are represented by the curve AB  in the above diagram. Economic growth would best be indicated by a:
A.
B.
C.
D.
27.  Refer to the above diagram. If the production possibilities curve of an economy shifts from AB to CD, it is most likely the result of what factor affecting economic growth?
A.
B.
C.
D.
28.  Refer to the above diagram. If the production possibilities of an economy are shown by curve AB but the economy is operating at point 4, the reasons are most likely to be because of:
A.
B.
C.
D.
29.  Refer to the above diagram. Which of the following is the most likely cause for a shift in the production possibilities curve from AB to CD?
A.
B.
C.
D.
30.  Suppose that an economy is initially operating at a point on its PPC. If it then experiences an expansion in its production capacity, but its total spending does not rise as fast as its capacity, the economy will end up:
A.
B.
C.
D.
31.  Refer to the above graph. If the production possibilities curve of an economy shifts from AB to CD, it is most likely caused by which of the following factors?
A.
B.
C.
D.
32.  Refer to the above graph. If the production possibilities curve for an economy is at CD by the economy is operating at point X, the reasons are most likely to be because of:
A.
B.
C.
D.
33.  Real GDP or total output in any year is equal to:
A.
B.
C.
D.
34.  Assume that an economy has 1500 workers, each working 2000 hours per year. If the average output per worker-hour is $20, then the total output or real GDP will be: 
A.
B.
C.
D.
35.  If 40,000 worker-hours produced a total output of $600,000 in an economy, the labor productivity is:
A.
B.
C.
D.
36.  Society can increase its output and income by increasing basically one or both of two factors:
A.
B.
C.
D.
37.  A nation's real GDP will increase by increasing the following, except:
A.
B.
C.
D.
38.  The number of worker-hours available in an economy is determined by the following, except:
A.
B.
C.
D.
39.  Which of the following will NOT increase the average productivity of labor?
A.
B.
C.
D.
40.  The size of the labor force depends on the size of the working-age population and the:
A.
B.
C.
D.
41.  Refer to the above table. In year 2, the economy's real GDP was:
A.
B.
C.
D.
42.  Refer to the above table. Between Year 1 and Year 2, real GDP increased by:
A.
B.
C.
D.
43.  Refer to the above table. Between Year 2 and Year 3, real GDP increased by:
A.
B.
C.
D.
44.  In the periods 1953-73 and 1973-95, U.S. real GDP grew at the average annual rates of about:
A.
B.
C.
D.
45.  In the periods 1995-2001 and 2001-2007, U.S. real GDP grew at the average annual rates of about:
A.
B.
C.
D.
46.  In the U.S. in the last 50 years or so, we saw the following trends, except:
A.
B.
C.
D.
47.  About what percentage of the growth in real output in the United States from 2001 to 2007 was due to increases in labor productivity?
A.
B.
C.
D.
48.  Which of the following factors has been a dominant source of economic growth in the U.S. (except 1973-1995)?
A.
B.
C.
D.
49.  Which of the following factors is projected to be the dominant source of economic growth in the U.S. from now until 2020?
A.
B.
C.
D.
50.  The factor accounting for the largest increase in the productivity of labor in the United States has been:
A.
B.
C.
D.
51.  Technological advances that contribute to economic growth include the following, except:
A.
B.
C.
D.
52.  Labor productivity can only increase if:
A.
B.
C.
D.
53.  In the U.S. economic-growth experience:
A.
B.
C.
D.
54.  Which is the single most important source of U.S. economic growth?
A.
B.
C.
D.
55.  Historically, the total amount of real capital per worker in the United States has:
A.
B.
C.
D.
56.  Human capital refers to the:
A.
B.
C.
D.
57.  Trends in the educational attainment in the U.S. since 1960 indicate that the percentage of adults:
A.
B.
C.
D.
58.  In 2009, about how many percent of adults in the U.S. were college graduates or more?
A.
B.
C.
D.
59.  One concern regarding educational attainment in the U.S. is that:
A.
B.
C.
D.
60.  What economic concept would be most closely associated with a situation where an aluminum plant expands its operations and uses extensive computerization in the production line to reduce per-unit costs of production?
A.
B.
C.
D.
61.  The movement of workers from lower productivity jobs to higher productivity jobs would be an example of a(n):
A.
B.
C.
D.
62.  The shift of labor out of agriculture to industry in the United States has tended to:
A.
B.
C.
D.
63.  One major aspect of the socio-cultural-political environment of the United States which has generally been conducive to economic growth is the:
A.
B.
C.
D.
64.  Labor productivity in the U.S. in the periods 1973-1995 and 1995-2009 grew at average rates of:
A.
B.
C.
D.
65.  If the annual growth in a nation's productivity is 2.8 percent rather than 1.5 percent, then the nation's standard of living will double in about
A.
B.
C.
D.
66.  Factors that contribute to the higher U.S. labor productivity growth in 1995-2009 relative to the earlier period include the following, except:
A.
B.
C.
D.
67.  A major effect of the rise in the rate of productivity growth in the United States is a(n):
A.
B.
C.
D.
68.  Compared with the period from 1973-1995, the annual rate of productivity growth from 1995-2009 was about:
A.
B.
C.
D.
69.  Increasing returns would be a situation where a firm increases its workforce and other outputs by:
A.
B.
C.
D.
70.  Sources of increasing returns that help raise productivity growth include the following, except:
A.
B.
C.
D.
71.  Increases in the value of the product to each user, including existing users, as the total number of users rises is called:
A.
B.
C.
D.
72.  A piece of software that benefits many users at the same time would be an example of:
A.
B.
C.
D.
73.  Which of the following is a main source of increasing returns in recent years?
A.
B.
C.
D.
74.  One major economic benefit of global competition is:
A.
B.
C.
D.
75.  Which of the following countries ranked highest in the Global Competitiveness Index?
A.
B.
C.
D.
76.  The rapid productivity growth experienced in 1995-2009:
A.
B.
C.
D.
77.  Critics of growth policies focus on the following arguments, except:
A.
B.
C.
D.
78.  One of the main arguments against further growth for industrialized nations focuses on the problem of:
A.
B.
C.
D.
79.  An antigrowth view would be that there may be a significant tradeoff between productivity and:
A.
B.
C.
D.
80.  One of the basic economic defenses of economic growth rests on the conclusion that:
A.
B.
C.
D.
81.  "Show me a pastoral society with an untouched environment, and abundance of leisure, and nonsecular values, and I will show you an underdeveloped, poverty-ridden country." This statement is most likely to be made by a(n):
A.
B.
C.
D.
82.  Rising real wages for women in the U.S. workforce since the 1960s have:
A.
B.
C.
D.
83.  The entry of women into the workforce since the 1960s have resulted in:
A.
B.
C.
D.
84.  Over the past twenty-five years China has experienced nearly a:
A.
B.
C.
D.
85.  Which of the following statements is true?
A.
B.
C.
D.
86.  The growth of per capita income in China is largely the result of:
A.
B.
C.
D.
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