eco 302 week 3 quiz
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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 #$% *mpnent ( pri'atedmen&ti* in'e&tment.
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. 6 (!+ 'ariab!e mea&ure& the d!!ar amunt ( )d& at a &pe*i(i* pintin time.
10. Cn*eptua!!y #$% 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.
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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&.
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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
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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.
b. 92. tri!!in. d. nne ( the ab'e.
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
$urab!e #d& 1.1=ied 8n'e&tment 1.0=edera! #'ernment %ur*ha&e& 0.Eprt& 1.3
Nndurab!e #d& 2. Nnre&identia! Stru*ture& 1.3State and >*a! #'ernment 1.58mprt& 2.0Ser'i*e& 5.2;e&identia! Stru*ture& 0.
Chan)e& in 4u&ine&& 8n'entrie& 2.0
20. 4a&ed n the data in ab!e 2.2 per&na! *n&umptin ependiture i&:a. 93. tri!!in. *. 9. tri!!in.
b. 9. tri!!in. d. nne ( the ab'e.
21. 4a&ed n the data in ab!e 2.2 )r&& pri'ate in'e&tment i&:a. 91.0 tri!!in. *. 95.1 tri!!in.
b. 9,.3 tri!!in. d. nne ( the ab'e.
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22. 4a&ed n the data in ab!e 2.2 )'ernment pur*ha&e& are:a. 90. tri!!in. *. 90. tri!!in.
b. 92., tri!!in. d. nne ( the ab'e.
23. 4a&ed n the data in ab!e 2.2 net eprt& ( )d& and &er'i*e& are:a. 90. tri!!in. *. -90. tri!!in.
b. 93.3 tri!!in. d. nne ( the ab'e.
2,. 4a&ed n the data in ab!e 2.2 )r&& dme&ti* prdu*t i&:a. 91. tri!!in. *. 91. tri!!in.
b. 915. tri!!in. d. nne ( the ab'e.
25. 4a&ed n the data in ab!e 2.2 net dme&ti* prdu*t i&:a. 915. tri!!in. *. 91. tri!!in.
b. 91. tri!!in. d. nne ( the ab'e.
2. E*nmi&t& &metime& u&e a *!&ed e*nmy mde! de&pite the (a*t (trade +ith the re&t ( the +r!d be*au&e:a. the +r!d a& a +h!e i& a *!&ed e*nmy. *. it &imp!i(ie& the ana!y&i&.
b. at !ea&t (r !ar)e *untrie& !ike the ?S eprt& and imprt& ha'e been &ma!!*mpared t #$%. 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
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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.
b. 910. tri!!in. d. nne ( the ab'e.
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.
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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.
b. 911., tri!!in. d. nne ( the ab'e.
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.
b. 910., tri!!in. d. nne ( the ab'e.
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.
b. 9., tri!!in. d. nne ( the ab'e.
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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. $i&p&ab!e per&na! in*me i& per&na! in*me:a. p!u& per&na! tae&. *. !e&& per&na! tae&.
b. !e&& *rprate pr(it& tae& n prdu*tin *ntributin& (r &*ia! in&uran*enet intere&t bu&ine&& tran&(er& and &urp!u& ( )'ernment enterpri&e& p!u& per&na!in*me re*eipt& n a&&et& and per&na! tran&(er payment&. d. p!u& *rprate
pr(it& tae& n prdu*tin *ntributin& (r &*ia! in&uran*e net intere&t bu&ine&&tran&(er& and &urp!u& ( )'ernment enterpri&e& !e&& per&na! in*me re*eipt& na&&et& and per&na! tran&(er payment&.
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,3. Subtra*ted (rm natina! in*me t )et per&na! in*me i&:a. depre*iatin ( *apita!. *. per&na! tran&(er payment&.
b. *rprate pr(it&. d. a!! ( the ab'e.
,,. 6dded t natina! in*me t )et per&na! in*me i&:a. per&na! in*me re*eipt& n a&&et&. *. *ntributin& (r &*ia! in&uran*e.
b. net intere&t. d. a!! ( that ab'e.
,5. Subtra*ted (rm natina! in*me t )et per&na! in*me i&:a. net intere&t. *. tae& n prdu*tin.
b. bu&ine&& tran&(er&. d. a!! ( the ab'e.
,. Subtra*ted (rm per&na! in*me t )et di&p&ab!e per&na! in*me i&:a. per&na! tae&. *. per&na! in*me re*eipt& n a&&et&.
b. *ntributin& (r &*ia! in&uran*e. d. a!! ( the ab'e.
,. he *n&umer pri*e inde @C%8A:a. *an nt be *n&tru*ted a& a *hained inde. *. i& updated +hene'er ne+)d& are intrdu*ed.
b. de& nt adu&t (r 7ua!ity *han)e& in )d&. d. (u!!y a**unt& (r&ub&titutin t *heaper )d&.
,. he *n&umer pri*e inde i& bia&ed be*au&e it *an nt a**unt (r:a. 7ua!ity *han)e& in )d&. *. pep!e &ub&titutin) t *heaper )d&.
b. ne+ )d&. d. a!! ( the ab'e.
,. he *n&umer pri*e inde de& nt a**unt (r:a. the intrdu*tin ( ne+ )d&. *. )d& +h&e pri*e& (a!!.
b. )d& +h&e pri*e& ri&e. d. a!! ( the ab'e.
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50. he *n&umer pri*e inde i& *n&tru*ted (rm:a. ta data. *. data (rm +h!e&a!e prdu*er&.
b. &ur'ey data. d. a!! ( the ab'e.
51. Nmina! #$% *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 ( #$% addre&&e& the i&&ue ( *han)e& ina. prdu*t 7ua!ity. *. the *hain ( &upp!y (r )d&.
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b. the a'era)e +ei)ht ( )d&. d. the 7uantity ( eprt& and imprt&.
5. When the 7ua!ity ( a prdu*t *han)e& 'er time rea! #$%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! #$% i& that ita. e*!ude& m&t nnmarket a*ti'ity. *. de& nt *n&ider pri*e *han)e&.
b. de& nt *n&ider in*me di&tributin. d. @aA and @bA.
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3. Whi*h ( the (!!+in) i& NO *!a&&i(ied a& a *n&umer durab!eBa. autmbi!e&. *. re(ri)eratr&.
b. (urniture. d. nne ( the ab'e.
,. Sea&na! adu&tment t ma*re*nmi* data *rre*t& m&t!y (r a. pri*e !e'e! *han)e&. *. the +eather and h!iday&.
b. prdu*t 7ua!ity *han)e&. d. the hu&in) indu&try *y*!e.
5. he &um ( 'a!ue added (rm a!! &e*tr& in an e*nmy i& e7ua! ta. natina! in*me. *. net natina! prdu*t.
b. #$%. 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
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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&.
. $ata (rm re*ent de*ade& &h+ that m&t *untrie& in &ub-Saharan6(ri*a )re+ at a (a&t pa*e.
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. 8n a prdu*tin (un*tin (r the e*nmy the mar)ina! prdu*t (*apita! typi*a!!y i& in*rea&in).
. Cn&tant return& t &*a!e in a prdu*tin (un*tin imp!y that dub!in) bth *apita! and !abr +i!! a!& dub!e utput.
10. he S!+ )r+th mde! indi*ate& that the )r+th rate ( rea! #$% 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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