January 25, 2015

Homework Help: Economics

Posted by Suzy on Tuesday, June 8, 2010 at 2:54pm.

1) Which of the following is an example of a measure of labor productivity?

a. Autos get 30 gallons to the mile.
b. The growth rate of per capita real GDP is 3.5 percent per year.
c. Farm workers produce 30 bushels of wheat per worker per day.
d. Wages increase by 3.5 percent per year
for 5 years.

2) Labor productivity increases when

a. the unemployment rate decreases.
b. the average output produced per worker during a specified time period decreases.
c. the average number of hours people work goes up.
d. the average output produced per worker during a specified time period increases.

3) To consume more in the future, a society must

a. plan carefully.
b. have low tax rates on consumption.
c. maintain low inflation.
d. consume less today.

4) Which of the following statements is not true about economic growth?

a. Growth represents an increase in a nation's productive capacity.
b. Growth generally means that overall the members of the nation are better off materially.
c. Growth is measured as the overall level of real GDP.
d. When growth occurs the production possibilities curve shifts outward.

5) A system of private property rights

a. discourages economic growth by discouraging the development of new ideas and ways of doing things.
b. encourages investment but discourages entrepreneurial activity, so the effect on economic growth is uncertain.
c. reduces the efficiency of government, which reduces the growth rate of the economy over time.
d. encourages economic growth by creating incentives to invest in capital and to be innovative.

6) Economic growth occurs when

a. there is an increase in the amount of capital.
b. we discover a sleeping worker who is forced to go back to work.
c. there is an increase in the inflation rate.
d. there is a decrease in the unemployment rate.

Answer this Question

First Name:
School Subject:

Related Questions

economics - Explain how output per capita can grow faster than labor ...
Macroeconomics - Calculating the Rate of Growth of Per Capita Real GDP The ...
economics - This is my son who is in 10th grade homework assignment. I want to ...
Macroeconomics - Manipulation of the Cobb Douglas Equation gives us expression ...
economics - What two kinds of changes in the capital stock can improve labor ...
Economics - Is it true that the underlying trend of growth in the economy is ...
economics - Here are data for Germany and Japan on the ratio of employment to ...
Bio - What is the per capita rate of increase (r) for a population whose per ...
Macroeconomics* Please check my answers* - If real GDP per capita grows at a ...
Economics - 1) The long run growth rate of the economy is consistent with: a.An ...