ECO 302 Week 3 Quiz

7/25/2019 ECO 302 Week 3 Quiz

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ECO 302 Week 3 Quiz - Strayer

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Cha%ter 2 an# 3

Cha%ter 2

T&'E()LSE

1. Nmina! #$% mea&ure& the d!!ar 'a!ue ( a!! )d& and &er'i*e& thatan e*nmy prdu*e& in a parti*u!ar perid ( time.

2. #$% i& a *mp!ete mea&ure ( e*nmi* +e!(are.

3. #$% i)nre& +e!(are *han)e& due t en'irnmenta! dama)e.

,. a!ue added i& the di((eren*e bet+een *&t& ( prdu*tin and the pri*e( a prdu*t.

5. he di((eren*e bet+een #$% and NN% i& the depre*iatin ( *apita!.

. Nmina! #$% mea&ure& the tta! 'a!ue ( )d& and &er'i*e& adu&ted(r in(!atin.

. #$% in *n&tant d!!ar& u&e& pri*e& (rm a ba&e year & that pri*e& dnt 'ary 'er time.

. 4u&ine&& in'entrie& are in*!uded in the #$% *mpnent ( pri'atedmen&ti* in'e&tment.



7/25/2019 ECO 302 Week 3 Quiz


. 6 (!+ 'ariab!e mea&ure& the d!!ar amunt ( )d& at a &pe*i(i* pintin time.

10. Cn*eptua!!y #$% mea&ured by in*me prdu*t and 'a!ue addedea*h e7ua! the &ame amunt.

$'LT*PLE C+O*CE

1. Nmina! #$% mea&ure& the:a. d!!ar 'a!ue ( a!! )d& and &er'i*e& prdu*ed in an e*nmy at a pint intime. *. d!!ar 'a!ue ( a!! )d& and &er'i*e& prdu*ed in an e*nmy durin) a&pe*i(ied time perid.

b. the *n&tant d!!ar 'a!ue ( a!! )d& and &er'i*e& prdu*ed in an e*nmy ata pint in time. d. the *n&tant d!!ar 'a!ue ( a!! )d& and &er'i*e&

prdu*ed in an e*nmy durin) a &pe*i(ied time perid.

2. 8mputed renta! in*me i&:a. the mney pep!e re*ei'e (rm rentin) prperty. *. +hat an +ner**upied hu&e +u!d (et*h n the market i( the +ner rented it.

b. the mney bu&ine&&e& pay (r rentin) prperty. d. the mney bu&ine&&e& re*ei'e (rm rentin) prperty.

3. 8n an e*nmy +ith t+ )d& beer and pizza i( pizza *&t& 910 per pie and beer *&t& 95 per &i pa*k and i( 100 &i pa*k& ( beer and 200 pizza& are prdu*ed in a year then nmina! #$% that year +u!d be:a. 92000. *. 91500.

b. 92500. d. nne ( the ab'e.

,. 8n an e*nmy +ith t+ )d& bur)er& and pizza i( pizza *&t& 915 per pie and bur)er& *&t& 95 per bur)er and i( 1000 bur)er and 200 pizza& are prdu*ed in a year then nmina! #$% that year +u!d be:a. 92,000. *. 91000.

b. 9000. d. nne ( the ab'e.

7/25/2019 ECO 302 Week 3 Quiz


5. ;ea! #$% i& #$%:a. in *n&tant d!!ar&. *. that *n&ider& in*me di&tributin.

b. in *urrent d!!ar&. d. that in*!ude& the 'a!ue ( !ei&ure.

. ;ea! #$% e7ua!&:a. nmina! #$% time& the imp!i*it pri*e !e'e!. *. the *urrent d!!ar 'a!ue ( a!! )d& and &er'i*e& prdu*ed in an e*nmy durin) a parti*u!ar time perid.

b. nmina! #$% di'ided by the imp!i*it pri*e !e'e!. d. rea! #$% time theimp!i*it pri*e !e'e!.

. he imp!i*it pri*e !e'e! i&:a. the rati ( nmina! t rea! #$%. *. the rati ( rea! t nmina! #$%

b. the prdu*t ( rea! and nmina! #$%.d. the di((eren*e bet+een rea! andnmina! #$%.

. 8( rea! #$% i& 120 and nmina! #$% i& 10 then the imp!i*it pri*e!e'e! i&:a. .5. *. 0.

b. 1.5. d. 2100.

. 8( rea! #$% i& 200 and nmina! #$% i& 10 then the imp!i*it pri*e!e'e! i&:a. 0. *. ,0.

b. 1.25 d. 32000.

10. #$% de& nt:a. *n&ider *han)e& in the di&tributin ( in*me. *. a&&i)n 'a!ue t!ei&ure time.

b. in*!ude m&t nnmarket )d&. d. a!! ( the ab'e.

11. %er&na! *n&umptin ependiture in*!ude&:a. &er'i*e&. *. imprt&.

7/25/2019 ECO 302 Week 3 Quiz


b. re&identia! &tru*ture&. d. a!! ( the ab'e.

12. #r&& pri'ate dme&ti* ependiture in*!ude&:a. (ied in'e&tment. *. re&identia! &tru*ture&.

b. *han)e in bu&ine&& in'entry. d. a!! ( the ab'e.

13. Net eprt& ( )d& and &er'i*e& e7ua!&:a. imprt& time& eprt&. *. imprt& minu& eprt&.

b. eprt& minu& imprt&. d. a!! ( the ab'e.

1,. %er&na! Cn&umptin ependiture in*!ude&:a. *han)e& in bu&ine&& in'entrie&. *. imprt&.

b. nndurab!e&. d. a!! ( the ab'e.

15. #r&& pri'ate dme&ti* in'e&tment in*!ude&a. durab!e )d&. *. (inan*ia! a&&et&.

b. re&identia! &tru*ture&. d. a!! ( the ab'e.

1. #'ernment pur*ha&e& in*!ude:a. &tate and !*a! )'ernment pur*ha&e&. *. (edera! )'ernment debt.

b. ta re*eipt&. d. a!! ( the ab'e.

ab!e 2.1

Cate)ry ( Ependiture ri!!in& ( 9

%er&na! Cn&umptin Ependiture .5#r&& %ri'ate $me&ti* 8n'e&tment 2.2#'ernment %ur*ha&e& 2.5

Net Eprt& ( #d& and Ser'i*e& -1.0

$epre*iatin ( *apita! 0.5

7/25/2019 ECO 302 Week 3 Quiz


1. 4a&ed n the data in ab!e 2.1 #r&& $me&ti* %rdu*t i&:a. 911. tri!!in. *. 911.2 tri!!in.

b. 910. tri!!in. d. nne ( the ab'e.

1. 4a&ed n the data in ab!e 2.1 net dme&ti* pri'ate in'e&tment i&:a. 91. tri!!in. *. 911.0 tri!!in.


1. $epre*iatin i&:a. +hen the pri*e !e'e! (a!!&. *. the *apita! u&ed up prdu*in) thi&

perid<& utput. b. the e*nmy )e& int re*e&&in. d. a!! ( the ab'e.

ab!e 2.2

Cate)ry ( Ependiture ri!!in& ( 9

$urab!e #d& 1.1=ied 8n'e&tment 1.0=edera! #'ernment %ur*ha&e& 0.Eprt& 1.3

Nndurab!e #d& 2. Nnre&identia! Stru*ture& 1.3State and >*a! #'ernment 1.58mprt& 2.0Ser'i*e& 5.2;e&identia! Stru*ture& 0.

Chan)e& in 4u&ine&& 8n'entrie& 2.0

20. 4a&ed n the data in ab!e 2.2 per&na! *n&umptin ependiture i&:a. 93. tri!!in. *. 9. tri!!in.


21. 4a&ed n the data in ab!e 2.2 )r&& pri'ate in'e&tment i&:a. 91.0 tri!!in. *. 95.1 tri!!in.

b. 9,.3 tri!!in. d. nne ( the ab'e.

7/25/2019 ECO 302 Week 3 Quiz


22. 4a&ed n the data in ab!e 2.2 )'ernment pur*ha&e& are:a. 90. tri!!in. *. 90. tri!!in.

b. 92., tri!!in. d. nne ( the ab'e.

23. 4a&ed n the data in ab!e 2.2 net eprt& ( )d& and &er'i*e& are:a. 90. tri!!in. *. -90. tri!!in.

b. 93.3 tri!!in. d. nne ( the ab'e.

2,. 4a&ed n the data in ab!e 2.2 )r&& dme&ti* prdu*t i&:a. 91. tri!!in. *. 91. tri!!in.


25. 4a&ed n the data in ab!e 2.2 net dme&ti* prdu*t i&:a. 915. tri!!in. *. 91. tri!!in.


2. E*nmi&t& &metime& u&e a *!&ed e*nmy mde! de&pite the (a*t (trade +ith the re&t ( the +r!d be*au&e:a. the +r!d a& a +h!e i& a *!&ed e*nmy. *. it &imp!i(ie& the ana!y&i&.

b. at !ea&t (r !ar)e *untrie& !ike the ?S eprt& and imprt& ha'e been &ma!!*mpared t #$%. d. a!! ( the ab'e.

2. E*nmi&t& &metime& u&e a *!&ed e*nmy mde! be*au&e:a. (e+ *untrie& a*tua!!y trade +ith ther&. *. eprt& and imprt& ha'en e((e*t n the e*nmy.

b. it &imp!i(ie& the ana!y&i&. d. a!! ( the ab'e.

ab!e 2.3

7/25/2019 ECO 302 Week 3 Quiz


ype ( 8n*me ri!!in& ( 9

Cmpen&atin ( emp!yee& .1%rprietr<& in*me 0.;enta! in*me ( per&n& 0.1

Crprate pr(it& 1., Net intere&t 0.5ae& n prdu*tin 0.Sub&idie& 0.14u&ine&& tran&(er& 0.1Surp!u& ( )'ernment enterpri&e& -0.1

2. 4a&ed n the data in ab!e 2.3 natina! in*me i&:a. 9.1 tri!!in. *. 911.0 tri!!in.


2. ae& n prdu*tin in*!ude:a. e*i&e tae&. *. e&tate tae&.

b. in*me tae&. d. a!! ( the ab'e.

30. Natina! in*me in*!ude&:a. *rprate tae& *. *rprate pr(it&.

b. *rprate a&&et& d. a!! ( the ab'e.

31. Natina! in*me and #$% di'er)e in pra*ti*e be*au&e (:a. re*eipt& and payment& in'!'in) the re&t ( the +r!d. *. tae&

b. &ub&idie&. d. a!! ( the ab'e.

32. Natina! in*me in*!ude&:a. renta! in*me ( per&n&. *. *rprate pr(it&.

b. net intere&t. d. a!! ( the ab'e.

33. Natina! in*me and #$% di'er)e in pra*ti*e be*au&e (:

a. &ub&idie&. *. tae&. b. depre*iatin ( *apita!. d. a!! ( the ab'e.

7/25/2019 ECO 302 Week 3 Quiz


ab!e 2.,

ype ( %rdu*t r 8n*me ri!!in& ( 9

#r&& dme&ti* prdu*t @#$%A 12.58n*me re*eipt& (rm the re&t ( the +r!d 0.5$epre*iatin ( the *apita! &t*k 1.Crprate pr(it& tae& n prdu*tin *ntributin& (r &*ia!in&uran*e net intere&t bu&ine&& tran&(er& &urp!u& ( )'ernmententerpri&e& 3.%er&na! tae& 1.28n*me payment& t the re&t ( the +r!d 0.,

%er&na! in*me re*eipt& n a&&et& and per&na! tran&(er payment& 3.0

3,. 4a&e n the data in ab!e 2., )r&& natina! prdu*t @#N%A i&:a. 911., tri!!in. *. 912.5 tri!!in.

b. 912.. tri!!in. d. nne ( the ab'e.

35. 4a&ed n the data in ab!e 2., net natina! prdu*t i&:a. 911.0 tri!!in. *. 912. tri!!in.


3. 4a&ed n the data in ab!e 2., natina! in*me i&:a. 9., tri!!in. *. 9. tri!!in.

b. 911.0 tri!!in. d. nne ( the ab'e.

3. 4a&ed n the data in ab!e 2., per&na! in*me i&:a. 910.2 tri!!in. *. 911. tri!!in.


3. 4a&ed n the data in ab!e 2., di&p&ab!e per&na! in*me i&:a. 910 tri!!in. *. 9.2 tri!!in.


7/25/2019 ECO 302 Week 3 Quiz


3. #r&& natina! prdu*t @#N%A i& )r&& dme&ti* prdu*t @#$%A:a. !e&& in*me re*eipt& (rm the re&t ( the +r!d !e&& in*me payment& t the

re&t ( the +r!d. *. p!u& in*me re*eipt& (rm the re&t ( the +r!d !e&&in*me payment& t the re&t ( the +r!d.

b. !e&& in*me re*eipt& (rm the re&t ( the +r!d p!u& in*me payment& t there&t ( the +r!d. d. !e&& in*me re*eipt& (rm the re&t ( the +r!d !e&&in*me payment& t the re&t ( the +r!d.

,0. Net natina! prdu*t @NN%A i& )r&& natina! prdu*t @#N%A:a. p!u& depre*iatin ( *apita!. *. p!u& per&na! tae&.

b. !e&& depre*iatin ( *apita!. d. !e&& per&na! tae&.

,1. %er&na! in*me i& natina! in*me:a. !e&& *rprate pr(it& tae& n prdu*tin *ntributin& (r &*ia! in&uran*enet intere&t bu&ine&& tran&(er& and &urp!u& ( )'ernment enterpri&e& p!u& per&na!in*me re*eipt& n a&&et& and per&na! tran&(er payment&. *. p!u& *rprate

pr(it& tae& n prdu*tin *ntributin& (r &*ia! in&uran*e net intere&t bu&ine&&tran&(er& and &urp!u& ( )'ernment enterpri&e& !e&& per&na! in*me re*eipt& na&&et& and per&na! tran&(er payment&.

b. !e&& *rprate pr(it& tae& n prdu*tin *ntributin& (r &*ia! in&uran*enet intere&t bu&ine&& tran&(er& &urp!u& ( )'ernment enterpri&e& per&na! in*mere*eipt& n a&&et& and per&na! tran&(er payment&. d. p!u& *rprate pr(it&tae& n prdu*tin *ntributin& (r &*ia! in&uran*e net intere&t bu&ine&& tran&(er&&urp!u& ( )'ernment enterpri&e& per&na! in*me re*eipt& n a&&et& and per&na!tran&(er payment&.

,2. $i&p&ab!e per&na! in*me i& per&na! in*me:a. p!u& per&na! tae&. *. !e&& per&na! tae&.

b. !e&& *rprate pr(it& tae& n prdu*tin *ntributin& (r &*ia! in&uran*enet intere&t bu&ine&& tran&(er& and &urp!u& ( )'ernment enterpri&e& p!u& per&na!in*me re*eipt& n a&&et& and per&na! tran&(er payment&. d. p!u& *rprate

pr(it& tae& n prdu*tin *ntributin& (r &*ia! in&uran*e net intere&t bu&ine&&tran&(er& and &urp!u& ( )'ernment enterpri&e& !e&& per&na! in*me re*eipt& na&&et& and per&na! tran&(er payment&.

7/25/2019 ECO 302 Week 3 Quiz


,3. Subtra*ted (rm natina! in*me t )et per&na! in*me i&:a. depre*iatin ( *apita!. *. per&na! tran&(er payment&.

b. *rprate pr(it&. d. a!! ( the ab'e.

,,. 6dded t natina! in*me t )et per&na! in*me i&:a. per&na! in*me re*eipt& n a&&et&. *. *ntributin& (r &*ia! in&uran*e.

b. net intere&t. d. a!! ( that ab'e.

,5. Subtra*ted (rm natina! in*me t )et per&na! in*me i&:a. net intere&t. *. tae& n prdu*tin.

b. bu&ine&& tran&(er&. d. a!! ( the ab'e.

,. Subtra*ted (rm per&na! in*me t )et di&p&ab!e per&na! in*me i&:a. per&na! tae&. *. per&na! in*me re*eipt& n a&&et&.

b. *ntributin& (r &*ia! in&uran*e. d. a!! ( the ab'e.

,. he *n&umer pri*e inde @C%8A:a. *an nt be *n&tru*ted a& a *hained inde. *. i& updated +hene'er ne+)d& are intrdu*ed.

b. de& nt adu&t (r 7ua!ity *han)e& in )d&. d. (u!!y a**unt& (r&ub&titutin t *heaper )d&.

,. he *n&umer pri*e inde i& bia&ed be*au&e it *an nt a**unt (r:a. 7ua!ity *han)e& in )d&. *. pep!e &ub&titutin) t *heaper )d&.

b. ne+ )d&. d. a!! ( the ab'e.

,. he *n&umer pri*e inde de& nt a**unt (r:a. the intrdu*tin ( ne+ )d&. *. )d& +h&e pri*e& (a!!.

b. )d& +h&e pri*e& ri&e. d. a!! ( the ab'e.

7/25/2019 ECO 302 Week 3 Quiz


50. he *n&umer pri*e inde i& *n&tru*ted (rm:a. ta data. *. data (rm +h!e&a!e prdu*er&.

b. &ur'ey data. d. a!! ( the ab'e.

51. Nmina! #$% *an be mi&!eadin) primari!y be*au&e ita. de& nt in*!ude imputed renta! in*me. *. i& adu&ted (r in(!atin.

b. depend& n the 'era!! !e'e! ( pri*e&. d. de& nt in*!ude per&na!*n&umptin ependiture&.

52. Whi*h ( the (!!+in) +u!d NO be in*!uded in thi& year<& #$%Ba. the &a!e ( a ne+ ,-dr &edan *ar t a *n&umer. *. the &a!e ( ananti7ue autmbi!e t a anti7ue-*ar *!!e*tr.

b. the &a!e ( a ne+ *mputer t a &tudent. d. the &a!e ( a ne+ S? ta *n&umer.

53. Whi*h ( the (!!+in) +u!d be in*!uded in thi& year<& #$%Ba. the &a!e ( a ne+ *ar. *. the &a!e ( an ei&tin) hme.

b. the &a!e ( a u&ed *ar. d. the &a!e ( an anti7ue tab!e.

5,. 8n the *a!*u!atin ( rea! #$% a ba&e year i& u&ed (r mea&urin)a. renta! in*me. *. prdu*tin 7uantitie&.

b. +a)e&. d. pri*e&.

55. he *hain-+ei)hted mea&ure ( #$%a. u&e& a'era)e pri*e& ( )d& (r t+ ada*ent year&. *. u&e& the *urrent

pri*e& ( )d&. b. u&e& the pri*e ( )d& in a ba&e year &u*h a& the year 2000. d.

)i'e& mre +ei)ht t )d& +hi*h are mre epen&i'e.

5. 6 *hain-+ei)hted mea&ure ( #$% addre&&e& the i&&ue ( *han)e& ina. prdu*t 7ua!ity. *. the *hain ( &upp!y (r )d&.

7/25/2019 ECO 302 Week 3 Quiz


b. the a'era)e +ei)ht ( )d&. d. the 7uantity ( eprt& and imprt&.

5. When the 7ua!ity ( a prdu*t *han)e& 'er time rea! #$%a. *annt be adu&ted (r thi& prb!em. *. *an be adu&ted by u&in) a *hain-+ei)hted mea&ure ( #$%.

b. *an be adu&ted by *h&in) a ne+ ba&e year ea*h de*ade. d. *an beadu&ted by &ubtra*tin) depre*iatin (rm nmina! #$%.

5. 8( nmina! #$% i& 200 and the imp!i*it pri*e !e'e! i& 1.25 then rea!#$%

a. e7ua!& 250. *. e7ua!& 10. b. e7ua!& 201.25 d. *annt be *a!*u!ated.

5. 8( nmina! #$% i& 300 and the imp!i*it pri*e !e'e! i& 0.5 then rea!#$%a. e7ua!& ,00. *. e7ua!& 225.

b. e7ua!& 300. d. *annt be *a!*u!ated.

0. 8( rea! #$% e7ua!& ,00 and the imp!i*it pri*e !e'e! i& 0.5 thennmina! #$%a. e7ua!& ,00. *. e7ua!& 225.

b. e7ua!& 300. d. *annt be *a!*u!ated.

1. 8( rea! #$% e7ua!& ,00 and the imp!i*it pri*e !e'e! i& 1.25 thennmina! #$%a. e7ua!& 320. *. e7ua!& 500.

b. e7ua!& ,00. d. *annt be *a!*u!ated.

2. One &hrt*min) ( rea! #$% i& that ita. e*!ude& m&t nnmarket a*ti'ity. *. de& nt *n&ider pri*e *han)e&.

b. de& nt *n&ider in*me di&tributin. d. @aA and @bA.

7/25/2019 ECO 302 Week 3 Quiz


3. Whi*h ( the (!!+in) i& NO *!a&&i(ied a& a *n&umer durab!eBa. autmbi!e&. *. re(ri)eratr&.

b. (urniture. d. nne ( the ab'e.

,. Sea&na! adu&tment t ma*re*nmi* data *rre*t& m&t!y (r a. pri*e !e'e! *han)e&. *. the +eather and h!iday&.

b. prdu*t 7ua!ity *han)e&. d. the hu&in) indu&try *y*!e.

5. he &um ( 'a!ue added (rm a!! &e*tr& in an e*nmy i& e7ua! ta. natina! in*me. *. net natina! prdu*t.

b. #$%. d. @aA and @bA.

. 6 pttery &hp buy& *!ay and ther materia!& (r 920. Wrker& u&e themateria!& t make 5 b+!& that are &!d (r 9250 tta!. he 'a!ue added by the pttery&hp e7ua!&a. 90. *. 930.

b. 920. d. 9230.

S+O&T ,SWE&

1. What i& nmina! )r&& dme&ti* prdu*t @#$%AB

2. What i& rea! #$% and +hat make& it rea!BD

3. What i& the re!atin&hip bet+een nmina! and rea! #$%B

,. What part& ( +e!(are de& rea! #$% nt mea&ureB

7/25/2019 ECO 302 Week 3 Quiz


5. Why mi)ht the *n&umer pri*e inde @C%8A 'er&tate in(!atinB

. Why &hu!d #$% mea&ured by ependiture& and by in*me ea*h e7ua!the &ame amuntB Why in pra*ti*e are they (ten nt e7ua!B

Cha%ter 3

T&'E()LSE

1. he &tandard ( !i'in) ( pep!e in a *untry i& their per *apita in*me.

2. $imini&hin) return& t !abr imp!ie& that e'entua!!y the mar)ina! prdu*t ( !abr +i!! be*me ne)ati'e.

3. he mar)ina! prdu*t ( *apita! i& h+ mu*h utput *han)e& +hen*apita! in*rea&e& by ne unit.

,. Sa'in) i& in*me that i& nt *n&umed.

5. ;ea! &a'in) e7ua!& )r&& in'e&tment.

. $ata &h+ that (rm 10 t 2000 the ?.S. and ther OEC$ *untrie&)re+ at mderate rate&.

. $ata (rm re*ent de*ade& &h+ that m&t *untrie& in &ub-Saharan6(ri*a )re+ at a (a&t pa*e.

7/25/2019 ECO 302 Week 3 Quiz


. 8n a prdu*tin (un*tin (r the e*nmy the mar)ina! prdu*t (*apita! typi*a!!y i& in*rea&in).

. Cn&tant return& t &*a!e in a prdu*tin (un*tin imp!y that dub!in) bth *apita! and !abr +i!! a!& dub!e utput.

10. he S!+ )r+th mde! indi*ate& that the )r+th rate ( rea! #$% per +rker depend& part!y n the &a'in) rate.

$'LT*PLE C+O*CE

1. Wr!d )r+th data &h+& that (rm 10 t 2000:a. the ?S and ther OEC$ *untrie& )re+ at mderate rate&. *. &me*untrie& parti*u!ar!y Ea&t 6&ian *untrie& )re+ rapid!y.

b. &ub-Saharan 6(ri*an *untrie& )re+ at !+ rate& r de*!ined. d. a!!( the ab'e.

2. Wr!d )r+th data re'ea!& that (rm 10 t 2000:a. the ?S and ther OEC$ *untrie& )re+ at mderate rate&. *. &me*untrie& parti*u!ar!y Ea&t 6&ian *untrie& )re+ a !+ rate& r de*!ined.

b. &ub-Saharan 6(ri*an *untrie& )re+ rapid!y. d. a!! ( the ab'e.

3. Wr!d )r+th data re'ea!& that (rm 10 t 2000:a. the ?S and ther OEC$ *untrie& &ta)nated.*. &me *untrie&

parti*u!ar!y Ea&t 6&ian *untrie& )re+ at !+ r ne)ati'e rate&.

b. &ub-Saharan 6(ri*an *untrie& )re+ at !+ r ne)ati'e rate&. d. a!!( the ab'e.

,. Wr!d )r+th data re'ea!& that (rm 10 t 2000:a. a!! *untrie& )re+ at &imi!ar rate&. *. &me *untrie& parti*u!ar!y Ea&t6&ian *untrie& )re+ rapid!y.

b. &ub-Saharan 6(ri*an *untrie& )re+ mderate!y. d. the ?S and therOEC$ *untrie& &ta)nated.

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5. he ?S and ther OEC$ *untrie& had hi)h !e'e!& ( #$% per per&nin 2000 de&pite )r+in) at a mderate rate (rm 10 t 2000 be*au&e:a. ( ep!itatin ( (rei)n *untrie&. *. they &t!e the +ea!th ( !e&&

de'e!ped *untrie&. b. their e*nmie& had )r+n at a mderate rate (r a *entury r mre. d.

a!! ( the ab'e.

. 8( 6 in the prdu*tin (un*tin F 6 G =@H>A ri&e& then:a. utput ri&e& (r any !e'e! ( H and >. *. the mar)ina! prdu*t ( *apita!ri&e&.

b. the mar)ina! prdu*t ( !abr ri&e&. d. a!! ( the ab'e.

. 8( 6 in the prdu*tin (un*tin F 6 G =@H>A dub!e& +hi!e H and >remain the &ame thena. utput dub!e&. *. the mar)ina! prdu*t ( *apita! (a!!&.

b. the mar)ina! prdu*t ( !abr (a!!&. d. utput in*rea&e& by !e&& thandub!e.

. 6 in the prdu*tin (un*tin F 6 G =@H>A i&:a. the mar)ina! prdu*t ( !abr.*. the mar)ina! prdu*t ( *apita!.

b. the *apita! t !abr rati @H/>A. d. the !e'e! ( te*hn!)y.

. he mar)ina! prdu*t ( !abr i&:

a. h+ mu*h utput ri&e& (r +hen !abr in*rea&e& ne unit. *. !abrdi'ided by *apita! @>/HA

b. *apita! di'ided by !abr @H/>A. d. the !e'e! ( te*hn!)y.

10. he mar)ina! prdu*t ( *apita! i&:a. . *. the &!pe ( the prdu*tin +hen te*hn!)y and !abr are he!d*n&tant.

b. the *han)e in utput (r a unit *han)e in *apita!. d. a!! ( the ab'e.

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11. $imini&hin) mar)ina! prdu*t ( *apita! @I%HA mean&:a. utput ri&e& a& *apita! ri&e&. *. utput ri&e& a& the I%H ri&e&.

b. the I%H e'entua!!y (a!!& a& *apita! ri&e&. d. the mar)ina! prdu*t (

*apita! e'entua!!y be*me& ne)ati'e a& *apita! ri&e&.

12. 8n the prdu*tin (un*tin F 6 G =@H>A > i&:a. !ei&ure. *. the mar)ina! prdu*t ( !abr.

b. !abr. d. the mar)ina! prdu*t ( !ei&ure.

13. 8n the prdu*tin (un*tin F 6 G =@H>A i&:a. )d . *. the mar)ina! prdu*t ( )d .

b. prdu*tin. d. *n&tant return& t &*a!e.

1,. 6mn) the a&&umptin& made abut the prdu*tin (un*tin F 6 G@H>A i&:a. dimini&hin) mar)ina! prdu*t ( !abr. *. dimini&hin) mar)ina!

prdu*t ( *apita!. b. *n&tant return& t &*a!e. d. a!! ( the ab'e.

15. =r the prdu*tin (un*tin F 6 G =@H>A *n&tant return& t &*a!emean&:a. i( *apita! and !abr dub!e utput dub!e&. *. the mar)ina! prdu*t& (*apita! and !abr are *n&tant.

b. *apita! and !abr in*rea&e at a *n&tant rate. d. te*hn!)y i& *n&tant.

1. 8( the prdu*tin (un*tin F 6 G @H>A i& di'ided by > thena. @/>A F 6G(@H/>A. *. y F 6G(@kA.

b. utput per *apita e7ua!& te*hn!)y time& a (un*tin ( the *apita! !abr rati.d. a!! ( the ab'e.

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1. 6mn) the *ate)rie& the )r+th rate i& brken d+n int by )r+tha**untin) i&:a. the )r+th rate ( te*hn!)y. *. the *apita! !abr rati.

b. the mar)ina! prdu*t ( *apita!. d. a!! ( the ab'e.

1. #r+th a**untin) &h+& that #$% )r+th depend& n:a. )r+th ( the *apita! &t*k. *. )'ernment pur*ha&e&.

b. h!din) en'irnmenta! p!!utin in *he*k. d. ha'in) a rea&nab!edi&tributin ( in*me.

1. #r+th a**untin) &h+& that e*nmi* )r+th depend& n:a. )'ernment ta re*eipt&. *. !+erin) en'irnmenta! p!!utin.

b. the )r+th ( the !abr (r*e. d. a!! ( the ab'e.

20. #r+th a**untin) &h+& that e*nmi* )r+th depend& n:a. *ntr!!in) en'irnmenta! p!!utin. *. in*rea&e& in te*hn!)y.

b. internatina! *peratin. d. a!! ( the ab'e.

21. #r+th a**untin) &h+& that e*nmi* )r+th depend& n:a. in*rea&e& in te*hn!)y. *. )r+th in the *apita! &t*k.

b. the )r+th ( the !abr (r*e. d. a!! ( the ab'e.

22. he )r+th a**untin) (rmu!a i&:a. *.

b. d. F 6 G =@H>A

23. he !abr (r*e parti*ipatin rate i&:a. the !abr (r*e di'ided int ppu!atin. *. the !abr (r*e time&

ppu!atin. b. the !abr (r*e di'ide by ppu!atin. d. the !abr ppu!atin minu& the

!abr (r*e.

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2,. 8( a *untry ha& a ppu!atin ( 100 mi!!in and a !abr (r*e ( 0mi!!in then it& !abr (r*e parti*ipatin rate i&:

a. 0.. *. ,0 mi!!in. b. 1. d. 0 mi!!in.

25. 8( a *untry ha& a ppu!atin ( 300 mi!!in and a !abr (r*e ( 200mi!!in then it& !abr (r*e parti*ipatin rate i&:a. 0. *. 100 mi!!in.

b. 1.5 d. 200 mi!!in.

2. he *han)e in the *apita! &t*k in an e*nmy depend& n:a. the e*nmy<& &a'in). *. the e*nmy<& in'e&tment.

b. the *han)e in bnd pri*e&. d. a!! ( the ab'e.

2. 8n a *!&ed e*nmy +ith n )'ernment &e*tr the *han)e in the*apita! &t*k i&:a. net in'e&tment !e&& depre*iatin. *. )r&& in'e&tment.

b. )r&& in'e&tment !e&& depre*iatin. d. nmina! &a'in).

2. 8n a *!&ed e*nmy +ith n )'ernment &e*tr the *han)e in the*apita! &t*k i& e7ua! t:a. net in'e&tment !e&& depre*iatin. *. )r&& in'e&tment.

b. nmina! &a'in). d. rea! &a'in).

2. $epre*iatin ( the *apita! &t*k **ur& due t:a. ma*hine& deteriratin). *. bnd& (a!!in) in 'a!ue.

b. rea! e&tate ri&in) in 'a!ue. d. a!! ( the ab'e.

30. $epre*iatin ( the *apita! &t*k **ur& due t:

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a. in(!atin. *. bnd& (a!!in) in 'a!ue. b. bui!din)& needin) repair. d. a!! ( the ab'e.

31. $epre*iatin ( the *apita! &t*k **ur& due t:a. de(!atin. *. bnd& (a!!in) in 'a!ue.

b. 'ehi*!e& re7uirin) ne+ part&. d. a!! ( the ab'e.

32. $epre*iatin ( the *apita! &t*k **ur& due t:a. ma*hine& deteriratin). *. bui!din)& needin) repair.

b. 'ehi*!e& needin) part&. d. a!! ( the ab'e.

33. 8( there are 120 ma*hine& in an e*nmy and the depre*iatin rate i&5J per year then:a. depre*iatin i& 5 ma*hine& a year. *. depre*iatin i& 115 ma*hine& peryear.

b. depre*iatin i& ma*hine& a year. d. depre*iatin i& 11, ma*hine& peryear.

3,. 8( there are 120 ma*hine& in an e*nmy and the depre*iatin rate i&10J per year then net year there are:a. 10 ( the ri)ina! ma*hine& !e(t. *. 10 ( the ri)ina! ma*hine& !e(t.

b. 12 ( the ri)ina! ma*hine& !e(t. d. 110 ( the ri)ina! ma*hine& !e(t.

35. he a'era)e prdu*t ( *apita! i&:a. *. .

b. /H. d. .

=i)ure 3.1

3. 8n =i)ure 3.1 the a'era)e prdu*t ( *apita! i&:

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a. ri&in). *. (a!!in). b. *n&tant. d. unkn+n.

3. 8n =i)ure 3.1 the mar)ina! prdu*t ( *apita! i&:a. ri&in). *. *n&tant.

b. de*!inin). d. unkn+n.

3. =i)ure 3.1 &h+&:a. a prdu*tin (un*tin +ith !abr and te*hn!)y *n&tant. *. a

prdu*tin (un*tin +ith *apita! and te*hn!)y *n&tant.

b. a prdu*tin (un*tin +ith *apita! and !abr *n&tant. d. a prdu*tin (un*tin +ith *apita! !abr and te*hn!)y *n&tant.

3. 8n the &teady &tate ( the S!+ )r+th mde!:a. *.

b. d.

,0. 8n the S!+ )r+th mde! the e*nmy rea*he& the ptima! kK:a. immediate!y. *. randm!y.

b. 'er a perid ( time. d. *y*!i*a!!y.

,1. he S!+ )r+th mde! a&&ume& unemp!yment i&:

a. zer. *. ri&in). b. (a!!in). d. *n&tant.

,2. he S!+ )r+th mde! i)nre&:a. the internatina! &e*tr. *. *han)e& in !abr (r*e parti*ipatin.

b. the r!e ( )'ernment. d. a!! ( the ab'e.

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,3. he S!+ )r+th mde! &h+& that the )r+th rate ( rea! #$% per+rker depend& n:a. the &a'in) rate & *. the depre*iatin rate .

b. the )r+th rate ( the !abr (r*e n. d. a!! ( the ab'e.

,,. he S!+ )r+th mde! &h+& that the )r+th rate ( rea! #$% per+rker depend& n:a. the &a'in) rate & *. the rate ( in(!atin.

b. )'ernment &pendin) #. d. a!! ( the ab'e.

,5. he S!+ )r+th mde! &h+& that the )r+th rate ( rea! #$% per+rker depend& n:a. the rate ( )r+th ( the mney &upp!y. *. rate ( )r+th ()'ernment debt.

b. the )r+th rate ( the !abr (r*e n. d. a!! ( the ab'e.

,. he S!+ )r+th mde! &h+& that the )r+th rate ( rea! #$% per+rker depend& n:a. the rate ( )r+th ( the mney &upp!y. *. the depre*iatin rate .

b. !e'e! ( utput in the e*nmy. d. a!! ( the ab'e.

,. 8n the S!+ )r+th mde! the ptima! *apita! t !abr rati H/> i&+here:a. & L n F &G@k/yA. *. n L & F &G@y/kA.

b. & L n F &G@y/kA. d. & L & F nG@y/kA.

,. 8n the S!+ )r+th mde! the &teady &tate i& +hen the e*nmy ha&:a. (u!! emp!yment. *. zer in(!atin.

b. the ptima! *apita! !abr rati kK. d. a!! ( the ab'e.

,. $urin) the tran&itin t the &teady &tate in the S!+ )r+th mde!:a. the utput per +rker ri&e&. *. the rate ( )r+th ( *apita! ri&e&.

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b. !abr (r*e parti*ipatin ri&e&. d. a!! ( the ab'e.

50. $urin) the tran&itin t the &teady &tate in the S!+ )r+th mde!:a. the utput per +rker (a!!&. *. the rate ( )r+th ( *apita! (a!!&.

b. !abr (r*e parti*ipatin ri&e&. d. a!! ( the ab'e.

51. $urin) the tran&itin t the &teady &tate in the S!+ )r+th mde!:a. the utput per +rker ri&e&. *. the rate ( )r+th ( *apita! (a!!&.

b. the *apita! t !abr rati ri&e&. d. a!! ( the ab'e.

52. he S!+ re&idua! i&:a. that part ( utput )r+th nt attributed t !abr (r*e )r+th. *. that

part ( utput )r+th nt attributed t *apita! &t*k )r+th and !abr (r*e )r+th. b. that part ( utput )r+th nt attributed t *apita! &t*k )r+th. d. the)r+th in utput.

53. he S!+ re&idua! i& that part ( utput )r+th attributed t:a. the )r+th rate ( the !abr (r*e. *. the )r+th rate ( the *apita!&t*k.

b. the )r+th rate ( utput. d. the )r+ rate ( te*hn!)y.

5,. he S!+ re&idua!:

a. i& nt dire*t!y b&er'ab!e. *. i& attributed t *apita! &t*k )r+th. b. attributed t !abr (r*e )r+th. d. i& attributed t !abr (r*e )r+thand *apita! &t*k )r+th.

55. E*nmi&t& u&e the term p'erty t identi(y pep!e +ha. earn !e&& than 95000 per year. *. ha'e n a**e&& t the internet athme.

b. earn !e&& than 9000 per year. d. ha'e di((i*u!ty a((rdin) (d and

&he!ter.

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5. 8n e*nmi*& the term ine7ua!ity de&*ribe&a. the &ame thin) a& p'erty. *. an une7ua! repre&entatin in the ?.N.

b. an une7ua! di&tributin ( in*me. d. di&parity amn) *untrie&< 'tin)ri)ht&.

5. $ata (rm re*ent de*ade& &h+ that e*nmi* )r+th !ed ta. a +r!d+ide in*rea&e in p'erty. *. an in*rea&e in p'erty in OEC$*untrie& n!y.

b. n &i)n(i*ant *han)e in p'erty. d. a +r!d+ide de*!ine in p'erty.

5. $ata (rm re*ent de*ade& &h+ that e*nmi* )r+th !ed ta. a +r!d+ide in*rea&e in ine7ua!ity. *. an de*rea&e in ine7ua!ity in Chinan!y.

b. n &i)n(i*ant *han)e in ine7ua!ity. d. a +r!d+ide de*rea&e inine7ua!ity.

5. he +r!d di&tributin ( rea! #$% per per&n in 2000 &h+& thata. OEC$ *untrie& dminate the bttm ( the di&tributin. *. &ub-Saharan 6(ri*an *untrie& dminate the bttm ( the di&tributin.

b. OEC$ *untrie& dminate the tp ( the di&tributin. d. bth @bAand @*A.

0. he +r!d di&tributin ( rea! #$% per per&n in 2000 &h+& thata. OEC$ *untrie& dminate the bttm ( the di&tributin. *. &ub-Saharan 6(ri*an *untrie& dminate the tp ( the di&tributin.

b. OEC$ *untrie& dminate the tp ( the di&tributin. d. bth @bAand @*A.

1. he &!pe ( a prdu*tin (un*tin in term& ( *apita! h!din)te*hn!)y and !abr (ied u&ua!!y

a. in*rea&e& +ith in*rea&e& in *apita!. *. de*rea&e& +ith in*rea&e& in*apita!.

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b. remain& *n&tant +ith in*rea&e& in *apita!. d. either @aA r @bA.

2. he &!pe ( a prdu*tin (un*tin in term& ( !abr h!din)te*hn!)y and *apita! (ied u&ua!!ya. de*rea&e& +ith in*rea&e& in !abr. *. in*rea&e& +ith in*rea&e& in !abr.

b. remain& *n&tant +ith in*rea&e& in !abr. d. either @aA r @bA.

3. 6 bakery +ith a prdu*tin (un*tin ehibitin) *n&tant return& t&*a!e ha& 2 mier& and , +rker& +h prdu*e 10 *ake& per day. 8( the bakery +ner add& 2 mre mier& and , mre +rker& then prdu*tin +u!d m&t !ike!y

a. in*rea&e by 10 *ake& per day. *. de*rea&e by 2 *ake& per day. b. in*rea&e by ,0 *ake& per day. d. in*rea&e by 0 *ake& per day.

,. 8n the S!+ mde! the )r+th rate ( the *apita! &t*k i& a (un*tin ( a. the &a'in) rate and the depre*iatin rate. *. the !abr (r*e

parti*ipatin rate and the te*hn!)y )r+th rate. b. the &a'in) rate and the !abr (r*e parti*ipatin rate. d. the depre*iatinrate and the !abr (r*e parti*ipatin rate.

5. 8n the S!+ mde! the )r+th rate ( the !abr i& a (un*tin ( a. the &a'in) rate and the )r+th rate ( the ppu!atin. *. the !abr(r*e parti*ipatin rate and the hea!th te*hn!)y )r+th rate.

b. the &a'in) rate and the !abr (r*e parti*ipatin rate. d. the )r+th rate (the ppu!atin.

. 8n the S!+ )r+th mde! the a'era)e prdu*t ( *apita!a. in*rea&e& a& *apita! per +rker ri&e&. *. de*!ine& a& *apita! per +rkerri&e&.

b. remain& *n&tant a& *apita! per +rker ri&e&. d. de*!ine& then ri&e& a&*apita! per +rker ri&e&.

. 8n the &teady &tate (r the S!+ )r+th mde!

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ECO 302 Week 3 Quiz

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