In two generations this change most likely be noticed would Correct 1 1 pts

# In two generations this change most likely be noticed

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change most likely ___ be noticed.wouldCorrect!1 / 1 ptsQuestion 9Which of the following is the smallest in the U.S. economy?real GDP per personCorrect!4 of 73/16/2017 12:44 PM
1 / 1 ptsQuestion 10Say that over 10 years real GDP in a foreign country grew from 1 billion to 5 billion. Then, you used (5 billion /1 billion)- 1 to calculate average annual growth rate. Which of the following is wrong with the use of thisformula?10the exponent is incorrectCorrect!0 / 1 ptsQuestion 11Consider the per-worker production function. On the vertical axis you'll find ___ and on the horizontal axis you'llfind ___.Y/L, K/LCorrect AnswerK/L, Y/LYou Answered1 / 1 ptsQuestion 12If real GDP doubled in 10 years then you know that ___.the rate of economic growth is about 7 percentCorrect!5 of 73/16/2017 12:44 PM
1 / 1 ptsQuestion 13Say 50 years ago the CPI had a value of 70 and today's value is 236.1. Would (70/236.1)- 1 be the averagerate of inflation over these years?50noCorrect!1 / 1 ptsQuestion 14Across the economy the following take place: (i) people have more education, (ii) firms add machines that aremore efficient (iii) firms import ideas to run factories more efficiently. For how many of the above listed reasonsdoes the curve in the per-worker production function shift up?3Correct!0 / 1 ptsQuestion 156 of 73/16/2017 12:44 PM
If college and high school graduates have more skills than earlier graduates of years past, then the ___ .economy moves right on the per-worker production functionYou Answeredper-worker production function shifts upCorrect Answer1 / 1 ptsQuestion 16Consider the per-worker production function. If technological change occurs (measured by an increase in totalfactor productivity), then ___the curve shifts upCorrect!7 of 73/16/2017 12:44 PM

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