Econ 114 quiz - Question #1 Real GDP or total output in any...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Question #1 Real GDP or total output in any year is equal to:
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Choose an Answer: A. labour inputs divided by resource outputs. B. labour productivity multiplied by real output. C. worker-hours multiplied by labour productivity. D. worker-hours divided by labour productivity. Question #2 The largest factor increasing labour productivity in the Canadian economy since 1981 has been the growth of capital input. Choose an Answer: A. True B. False Question #3 Refer to the diagram below. A shift in the production possibilities curve from AB to CD is most likely due to: Choose an Answer:
Background image of page 2
A. the use of the economy's resources in an efficient way. B. an increase in the spending of business and consumers. C. an increase in government purchase of the economy's output. D. an increase in the quantity and quality of labour resources. Question #4 Refer to the above graph. If the production possibilities curve of an economy shifts from AB to CD, it is most likely caused by: Choose an Answer: A. a decrease in the price level. B. allocative efficiency. C. technological progress. D. full employment of resources. Question #5 Real GDP was $9,950 billion in Year 1 and $10,270 billion in Year 2. What was the approximate rate of economic growth from Ye
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Choose an Answer: A. 1.6 percent B. 2.4 percent C. 3.2 percent D. 4.3 percent Question #6 Total output for an economy is basically equal to work-hours divided by labour productivity. Choose an Answer: A. True B. False Question #7 A supply factor in economic growth would be: Choose an Answer: A. a fall in the efficient use of resources. B. a rise in the rate of resource depletion. C. an increase in the quantity of labour. D. an increase in consumption spending. Question #8 Economic growth lessens the burden of scarcity and provides increases in domestic output which can be used to alleviate national e
Background image of page 4
Choose an Answer: A. True B. False Question #9 Which of the following statements is correct? Choose an Answer:
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/11/2011 for the course ECON 114 taught by Professor Chartrand during the Spring '09 term at University of Saskatchewan- Management Area.

Page1 / 13

Econ 114 quiz - Question #1 Real GDP or total output in any...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online