ECO3041 - Ch 15 Review Qs

ECO3041 Ch 15 - Chapter 15 Review Questions Questions 1 Economic growth can be portrayed as a A outward shift of the production possibilities curve

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Chapter 15 Review Questions Questions: 1. Economic growth can be portrayed as a: A) outward shift of the production possibilities curve. B) inward shift of the production possibilities curve. C) movement from a point on to a point inside a production possibilities curve. D) movement from one point to another point on a fixed production possibilities curve. 2. Suppose that an economy's labor productivity and total worker-hours each grew by 3 percent between year 1 and year 2. We could conclude that this economy's: A) real GDP remained constant. B) capital stock increased by 3 percent. C) production possibilities curve shifted inward. D) long-run aggregate supply curve shifted to the right. 3. Real GDP per capita is found by: A) adding real GDP and population. B) subtracting population from real GDP. C) dividing real GDP by population. D) dividing population by real GDP. 4. In the extended analysis of aggregate supply, the long-run aggregate supply curve is: A) vertical and the short-run aggregate supply curve is horizontal. B) horizontal and the short-run aggregate supply curve is vertical.
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This note was uploaded on 01/22/2012 for the course ECO 3041 taught by Professor Dacal during the Fall '11 term at FIU.

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ECO3041 Ch 15 - Chapter 15 Review Questions Questions 1 Economic growth can be portrayed as a A outward shift of the production possibilities curve

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