Economics 1B Quiz 6 S2011

Economics 1B Quiz 6 S2011 - Economics 1B Quiz #6 Department...

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Economics 1B Quiz #6 Department of Economics Professor Siegler UC Davis Spring 2011 1) Technological advances generally result in A) decreased incomes. B) increased life expectancy. C) increased infant mortality rates. D) increased average number of hours worked per day. Answer: B 2) Growth in real GDP per capita for the world economy was greatest during A) the seventeenth century. B) the eighteenth century. C) the nineteenth century. D) the twentieth century. Answer: D 3) Diminishing marginal returns is illustrated in the per-worker-hour production function in the figure above by a movement from A) A to C . B) B to C . C) C to D . D) D to C . Answer: A
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4) Suppose the per-worker-hour production function in the figure above represents the production function for the U.S. economy. If the United States decided to double its support of university research, this would cause a movement from A) A to B . B) B to C . C) B to A . D) D to C . Answer: B 5) Within a country, the impact of wars and revolutions and their subsequent destruction of capital is reflected in the per-worker-hour production function in the figure above by a movement from A) A to B . B) B to C . C) B to A . D) C to A . Answer: D 6) Nonrivalry means that A) the owner of a good cannot prevent others from using the good. B) the use of a good by one individual does not preclude its use by another individual.
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This note was uploaded on 02/07/2012 for the course ECON 1b taught by Professor Sheffrin during the Spring '07 term at UC Davis.

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Economics 1B Quiz 6 S2011 - Economics 1B Quiz #6 Department...

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