This preview shows pages 1–2. Sign up to view the full content.
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 workerhours 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) longrun 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 longrun aggregate supply curve is:
A) vertical and the shortrun aggregate supply curve is horizontal.
B) horizontal and the shortrun aggregate supply curve is vertical.
This preview has intentionally blurred sections. Sign up to view the full version.
View Full Document
This is the end of the preview. Sign up
to
access the rest of the document.
This note was uploaded on 01/22/2012 for the course ECO 3041 taught by Professor Dacal during the Fall '11 term at FIU.
 Fall '11
 Dacal

Click to edit the document details