31201020123 - Nguyễn Thị Anh Thư 

Nhà của tôi  Các khoá học của tôi  Khoa Kinh tế  Kinh tế học  Kinh tế vĩ mô  Nguyễn Xuân Lâm  Macroeconomics - 2021 Sem 2 - 1  Mid-term Exam  Test 3 - Chapter 25
Production and Growth

Bắt đầu vào lúc Thứ bảy, 2 Tháng mười 2021, 8:11 PM
State Finished
Kết thúc lúc Thứ bảy, 2 Tháng mười 2021, 8:53 PM
Thời gian thực hiện 42 phút 25 giây
Điểm 10,0000 out of 10,0000 (100%)

Câu Hỏi 1 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Because capital is subject to diminishing returns, higher saving and investment does not lead to higher

Select one:
growth in the short run.

growth in the long run.

income in the long run.

income in the short run.

Câu Hỏi 2 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Last year real GDP in the imaginary nation of Populia was 907.5 billion and the population was 3.3 million.
The year before real GDP was 750 billion and the population was 3 million. What was the growth rate of real GDP per person during the year?

Select one:
10 percent

14 percent

17 percent

21 percent

Câu Hỏi 3 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Which of the following is a good gauge of economic progress?

Select one:
the growth rate of real GDP per person, but not the level of real GDP per person

neither the level nor the growth rate of real GDP per person

the level of real GDP per person, but not the growth rate of real GDP per person

the level of real GDP per person and the growth rate of real GDP per person

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Câu Hỏi 4 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Productivity is the amount of goods and services

Select one:
produced for each hour of a worker’s time. It is not linked to a nation’s economic policies.

an economy produces. It is linked to a nation’s economic policies.

an economy produces. It is not linked to a nation’s economic policies.

produced for each hour of a worker’s time. It is linked to a nation’s economic policies.

Câu Hỏi 5 Hoàn thành Đạt điểm 0,3125 trên 0,3125

A nation’s standard of living is determined by

Select one:
the quantity of natural resources with which it is endowed.

the percentage of its GDP that is accounted for by government purchases.

the productivity of its workers.

factors and events that are beyond the nation’s control.

Câu Hỏi 6 Hoàn thành Đạt điểm 0,3125 trên 0,3125

A nation's standard of living is best measured by its

Select one:
real GDP per person.

nominal GDP.

real GDP.

nominal GDP per person.

Câu Hỏi 7 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Last year real GDP in the imaginary nation of Oceania was 561.0 billion and the population was 2.2 million.
The year before, real GDP was 500.0 billion and the population was 2.0 million. What was the growth rate of real GDP per person during the year?

Select one:
12 percent

10 percent

2 percent

4 percent

Câu Hỏi 8 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Suppose that real GDP grew more in Country A than in Country B last year.

Select one:
Country A must have a higher standard of living than country B.

Country A's productivity must have grown faster than country B's.

Both of the above are correct.

None of the above are correct.

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Câu Hỏi 9 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Which of the following items plays a role in determining productivity?

Select one:
physical capital

natural resources

technological knowledge

All of the above are correct.

Câu Hỏi 10 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Which of the following pairs of terms refer to the same thing?

Select one:
“capital” and “physical capital”

“technological knowledge” and “human capital”

“standard of living” and “productivity”

“standard of living” and “human capital”

Câu Hỏi 11 Hoàn thành Đạt điểm 0,3125 trên 0,3125

An understanding of the best ways to produce goods and services is called

Select one:
human capital.

productivity.

physical capital.

technology.

Câu Hỏi 12 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Industrial machinery is an example of

Select one:
a factor of production that in the past was an output from the production process.

physical capital.

something that influences productivity.

All of the above are correct.

Câu Hỏi 13 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Which of the following is not an example of physical capital?

Select one:
the knowledge of workers

the office chair in a lawyer’s office

a factory building

a delivery van

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Câu Hỏi 14 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Which of the following is an example of physical capital?

Select one:
All of the above are correct.

the computer a secretary uses

the skills and knowledge of a doctor

rivers on which goods are transported

Câu Hỏi 15 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Human capital is the

Select one:
total number of hours worked in an economy.

same thing as technological knowledge.

stock of equipment and structures that is used to produce goods and services.

knowledge and skills that workers acquire through education, training, and experience.

Câu Hỏi 16 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Which of the following is an example of human capital?

Select one:
the things you have learned this semester

the amount you get paid each week to work at the library

any capital goods that require a human to be present to operate

the comfortable chair in your dorm room where you read economics texts

Câu Hỏi 17 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Which of the following is considered human capital? Knowledge acquired from

Select one:
early childhood education programs

job training

on-the-job experience

All of the above are correct.

Câu Hỏi 18 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Which of the following are human capital and physical capital, respectively?

Select one:
for a library: the building and the reference librarians’ knowledge of the Internet

for a school: chalkboard and desks

for an accounting firm: the accountants’ knowledge of tax laws and computer software

for a grocery store: grocery carts and shelving

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Câu Hỏi 19 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Natural resources

Select one:
are inputs provided by nature.

include land, rivers, and mineral deposits.

take two forms: renewable and nonrenewable.

All of the above are correct.

Câu Hỏi 20 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Accumulating capital

Select one:
requires that society sacrifice consumption goods in the present.

involves no trade-offs.

decreases saving rates.

allows society to consume more in the present.

Câu Hỏi 21 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Which of the following is a determinant of productivity?

Select one:
human capital per worker

physical capital per worker

natural resources per worker

All of the above are correct.

Câu Hỏi 22 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Which of the following would increase productivity?

Select one:
an increase in the physical capital stock per worker

an increase in human capital per worker

an increase in natural resources per worker

All of the above are correct.

Câu Hỏi 23 Hoàn thành Đạt điểm 0,3125 trên 0,3125

If there are diminishing returns to capital, then

Select one:
increases in the capital stock increase output by ever smaller amounts.

increases in the capital stock eventually decrease output.

old ideas are not as useful as new ones.

capital produces fewer goods as it ages.

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Câu Hỏi 24 Hoàn thành Đạt điểm 0,3125 trên 0,3125

“When workers have a relatively small quantity of capital to use in producing goods and services, giving them an additional unit of capital increases their productivity by

Select one:
is an assertion that production functions have the property of constant returns to scale.

is consistent with the view that capital is subject to diminishing returns.

is inconsistent with the view that it is easier for a country to grow fast if it starts out relatively poor.

All of the above are correct.

Câu Hỏi 25 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Some poor countries appear to be falling behind rather than catching up with rich countries. Which of the following could explain the failure of a poor county to catch u

Select one:
The poor country has outward-oriented trade policies.

The poor country allows foreign direct investment.

The poor country has poorly developed property rights.

All of the above are correct.

Câu Hỏi 26 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Which of the following is not correct?

A country's standard of living and its productivity are closely related.

Increases in productivity can be used to increase output or leisure.

Productivity refers to output produced per hour of work.

Countries that have had higher output growth per person have typically done so without higher productivity growth.

Câu Hỏi 27 Hoàn thành Đạt điểm 0,3125 trên 0,3125

For a given year, productivity in a particular country is most closely matched with that country's

growth rate of real GDP divided by hours worked over that year.

level of real GDP over that year.

growth rate of real GDP per person over that year.

level of real GDP divided by hours worked over that year.

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Câu Hỏi 28 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Human capital is

the same thing as technological knowledge.

knowledge and skills that workers have acquired.

the same thing as labor.

the tools and equipment operated by humans.

Câu Hỏi 29 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Technological knowledge refers to

human capital.

available information on how to produce things.

resources expended transmitting society's understanding to the labor force.

All of the above are technological knowledge.

Câu Hỏi 30 Hoàn thành Đạt điểm 0,3125 trên 0,3125

Which of the following statements is correct?

Productivity is a determinant of human capital per worker.

Technological knowledge is a determinant of productivity.

Human capital and technological knowledge are the same thing.

All of the above are correct.


Câu Hỏi 31 Hoàn thành Đạt điểm 0,3125 trên 0,3125

The catch-up effect refers to the idea that

it is easier for a country to grow fast and so catch-up if it starts out relatively poor.

saving will always catch-up with investment spending.

population eventually catches-up with increased output.

if investment spending is low, increased saving will help investment to "catch-up."

Câu Hỏi 32 Hoàn thành Đạt điểm 0,3125 trên 0,3125

The logic behind the catch-up effect is that

workers in countries with low incomes will work more hours than workers in countries with high incomes.

the capital stock in rich countries deteriorates at a higher rate because it already has a lot of capital.

new capital adds more to production in a country that doesn't have much capital than in a country that already has much capital.

None of the above is correct.

◄ Test 2 - Chapter 24 Measuring the Cost of Living Chuyển tới...

Test 4 - Chapter 26 Saving, Investment and the Financial System ►