Economic Growth And Productivity - Practice Quiz
- 1.A rapid increase in population will result in
- A.
An increase in real GDP and per capita GDP.
- B.
An increase in real GDP but a decrease in per capita GDP.
- C.
A decrease in real GDP but an increase in per capita GDP.
- D.
A decrease in both real GDP and per capita GDP.
- E.
No change in per capita GDP but a decrease in real GDP.
- 2.Increases in the capital stock will lead to
- A.
Decreases in wages and GDP.
- B.
Increases in wages and decreases in GDP.
- C.
Decreases in wages and increases in GDP.
- D.
Increases in wages and GDP.
- E.
No change in wages or the GDP.
- 3.Technological progress occurs when the economy gets more output
- A.
Without using any more capital or labor.
- B.
By using more capital per worker.
- C.
By using more capital but not more workers.
- D.
By using more labor but not more capital.
- E.
By using more capital but not more labor.
- 4.Human capital consists of
- A.
Machines that require workers in order to produce most efficiently.
- B.
Any production technique developed by humans.
- C.
Workers' education and skills.
- D.
Workers in factories.
- E.
Workers who can be used instead of machines.
- 5.To determine the change in the capital stock, the level of gross investment must be adjusted for depreciation because some new investment
- A.
Is not used immediately.
- B.
Replaces existing, but worn out, capital.
- C.
Replaces existing workers.
- D.
Is more efficient than existing capital.
- E.
Is usually unproductive.
- 6.GDP per capita is
- A.
GDP per person.
- B.
GDP in real terms.
- C.
The same as the GNP.
- D.
GDP nominal terms.
- E.
GDP adjusted for inflation.
- 7.One way that a government can encourage economic growth is by encouraging
- A.
Population growth.
- B.
Consumption.
- C.
Saving and investment.
- D.
Imports.
- E.
Accumulation of wealth.
- 8.Economists compare how rich or poor different nations are by measuring their
- A.
GDP.
- B.
Debt-to-GDP ratio.
- C.
GNP.
- D.
GDP per unit of capital.
- E.
Per capita GDP.
Questions: 52 | Attempts: 7014 | Last updated: Feb 22, 2019
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