ECON252 Interim Exam #1 10-03-2013 - PINK

Amovementtoproductionfunctionc d

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: . 41% E. 12% 31. In what way does GDP not give an accurate representation of standard of living? A. GDP does not measure production that occurs outside of the market economy. B. GDP does not account for income inequality. C. GDP does not directly account for changes in environmental quality. D. [All of the above] E. [None of the above] 32. GM’s assembly and sales of cars in Mexico would A. be counted as Consumption in US GDP. B. be counted as Investment in US GDP. C. not be counted in US GDP. D. be counted as exports in US GDP. 33. In 2000, a small country has real GDP of $20,000 and a population of 150. By 2010, real GDP has grown to $30,000, while better nutrition has allowed the population to increase to 250. Which of the following must be TRUE? A. The productivity of labor in this nation has remained constant. B. The rate of population growth has caused real GDP per capita to fall. C. Per capita GDP is higher in 2010 than it was in 2000. D. In another 10 years, there will not be enough cap...
View Full Document

This test prep was uploaded on 02/19/2014 for the course ECON 252 taught by Professor Robertholand during the Fall '08 term at Purdue.

Ask a homework question - tutors are online