econquiz4pt1 - 1 of 7 Due No due date Points 14 LATEST Questions 14 Time Limit None Attempt Time Score Attempt 1 4 minutes 13 out of 14 Submitted Mar 16

econquiz4pt1 - 1 of 7 Due No due date Points 14 LATEST...

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Due No due date Points 14 Questions 14 Time Limit None Attempt Time Score LATEST Attempt 1 4 minutes 13 out of 14 Submitted Mar 16 at 12:38pm 1 / 1 pts Question 1 Which of the following government actions would be the most harmful to economic growth? fixing prices Correct! 1 / 1 pts Question 2 Markets seem to be an essential ingredient for sustained economic growth. true Correct! 1 of 7 3/16/2017 12:39 PM
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1 / 1 pts Question 3 Which of the following leads to diminishing returns? adding more of existing types of capital Correct! 1 / 1 pts Question 4 Rising real incomes are due to ___. workers becoming more productive Correct! 0 / 1 pts Question 5 Across the economy the following take place: (i) people have more education, (ii) firms add machines that are more efficient (iii) firms import ideas to run factories more efficiently. For how many of the above listed reasons does the curve in the per-worker production function shift up? 2 of 7 3/16/2017 12:39 PM
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2 You Answered 3 Correct Answer 1 / 1 pts Question 6 Economic growth is likely to be ___ if the government fixed or set the price of important goods to make them affordable for consumers.
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