Econ 101 Exam 5, topic 8 actual attemt 1.docx - ECON101_MH_V3Topic 8 Saving Capital Formation and Financial Markets Started on State Tuesday 6:09 PM

# Econ 101 Exam 5, topic 8 actual attemt 1.docx -...

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ECON101_MH_V3Topic 8: Saving, Capital Formation and Financial Markets Started on Tuesday, January 21, 2020, 6:09 PM State Finished Completed on Tuesday, January 21, 2020, 6:46 PM Time taken 36 mins 51 secs Grade 52.25 out of 55.00 (95%) Question 1 Correct 2.75 points out of 2.75 Not flaggedFlag question Question text When a firm builds a new factory, this is an example of an investment in: Select one: a. human capital. b. physical capital. Correct c. the market. d. research and development. Feedback The correct answer is: physical capital. Question 2 Correct 2.75 points out of 2.75 Not flaggedFlag question Question text
Real GDP per person equals average labor productivity: Select one: a. times one minus the unemployment rate. b. minus the share of population employed. c. times the labor force participation rate. d. times the share of population employed. Correct Feedback The correct answer is: times the share of population employed. Question 3 Correct 2.75 points out of 2.75 Not flaggedFlag question Question text In symbolic terms where Y equals real GDP, POP equals total population, and N equals the number of employed workers, Y/POP must equal: Select one: a. Y/N×N/POP. Correct b. N/Y×POP/N. c. Y/POP×N/POP d. N/Y×N/POP Feedback The correct answer is: Y/N×N/POP. Question 4 Correct
2.75 points out of 2.75 Not flaggedFlag question Question text The principle that if the amount of labor and other inputs is held constant, then the greater the amount of capital in use, the less an additional unit of capital adds to production is called the principle of: Select one: a. increasing average capital productivity. b. diminishing returns to capital. Correct c. increasing returns to capital. d. decreasing output per unit of capital. Feedback The correct answer is: diminishing returns to capital. Question 5 Correct 2.75 points out of 2.75 Not flaggedFlag question Question text Mike and Tom debone chicken breasts for Ted's Chicken Co. Mike is new and can only debone 30 chicken breasts per hour by hand, while Tom's experience allows him to debone 60 chicken breasts per hour by hand. Ted buys one new machine that can debone 100 chicken breasts per hour. Both Mike and Tom work the same 40 hours per week, but one of them is assigned to operate the machine instead of deboning the chicken breasts by hand. To obtain maximum average hourly productivity, ______ is

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