1. -----is an important determinant of its standard of living in the long run. a
ID: 1131425 • Letter: 1
Question
1. -----is an important determinant of its standard of living in the long run. a. A nation's net exports b. The deficit in a nation’s current account c. The productivity of a nation's resources d. A nation's population growth rate e. The deficit in a nation's capital account
2. Empirical evidence suggests that: a. the unemployment rate in the U.S. in the late 1990s was higher than that in the 1970s. b. technological change leads to higher unemployment rates. c. the unemployment rate in the U.S. in the late 1990s was lower than that in the 1970s. d. changes in the growth rate of population lead to higher unemployment rates. e. increase in government regulation leads to higher unemployment rates.
3. An increase in labor productivity necessarily means an increase in real GDP per capita if: a. real GDP increases more rapidly than nominal GDP. b. the employment growth rate is greater than the population growth rate. c. the size of the labor force remains constant. d. the employment growth rate is less than the population growth rate. e. real GDP increases.
4. Which of the following could cause the production possibilities frontier to shift to the right? a. Fewer productive resources b. Production of more capital goods and fewer consumer goods c. Changes in the rules of the game that stunt economic growth d. More government regulation that stunts economic growth e. Lower quality resources
5. In the period 2005–2012, the annual productivity growth rate was approximately _____. a. 4.2 percent per year b. 5 percent per year c. 3 percent per year d. 6 percent per year or 1.6 %
6. Clustering: a. implies that consumers with similar tastes and preferences tend to stay in the same region. b. occurs when there is a single firm in the economy that can charge different prices for the same product. c. takes place when new firms enter regions already thick with other firms in the same or similar industries. d. occurs when all the firms in the industry sell identical commodities and charge identical prices for these commodities. e. occurs when government resources are diverted toward one particular sector of the economy.
7. If the marginal propensity to consume (MPC) is 4/5, the value of the simple multiplier is: a. 4/5. b. 4. c. 1/5. d. 5. e. 5/4.
Explanation / Answer
Answer of 1st question is c
It's productivity of nations resources
Answer of 2nd question is
Empirical evidence suggests that unemployment rate in 1990 was higher than that of 1970s
Answer for 3rd question is B
The employment growth rate is greater than population growth rate
Answer for 7th question is D
1/(1-MPC)=1/1-0.8=1/0.2=5
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