Economic Growth

10 Questions  I  By Jeffusmc on February 26, 2010
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1.  Which of the following is not correct?
A.
B.
C.
D.
2.  A nation’s standard of living is measured by its
A.
B.
C.
D.
3.  Both Tom and Jerry work eight hours a day. Tom can produce six baskets of goods per hour while Jerry can produce just four baskets of the same goods per hour. It follows that Tom’s
A.
B.
C.
D.
4.  Although technological knowledge and human capital are closely related, there is an important difference. A relevant metaphor would be
A.
B.
C.
D.
5.  Other things equal, relatively poor countries tend to
A.
B.
C.
D.
6.  Which of the following is generally an opportunity cost of investment in human capital?
A.
B.
C.
D.
7.  Once one person discovers an idea, the idea generally enters society's pool of knowledge, which many other people can use. Therefore, knowledge is generally a
A.
B.
C.
D.
8.  Suppose Ford builds a new car factory in Mexico. Future production from such an investment would
A.
B.
C.
D.
9.  If Japanese-owned Honda opens a factory in Ohio,
A.
B.
C.
D.
10.  A nation's standard of living is determined by
A.
B.
C.
D.
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