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[DOC File]Econ 204: Review questions for final exam
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a permanently faster growth rate of output. a permanently higher level of capital per worker. a permanently higher level of output per capita. all of the above. both b and c. Which of the following must occur to sustain economic growth in the long run? a higher saving rate. technological progress. capital accumulation. all of the above
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[DOC File]CHAPTER 1
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Macroeconomics: The study of the nation’s economy as a whole; focuses on the issues of inflation, unemployment, and economic growth. Marginal change: A small, one-unit change in value. Microeconomics: The study of the choices made by households, firms, and government and how these choices affect the markets for goods and services.
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[DOC File]Multiple choice questions
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is economic growth leading to an improvement in the economic welfare of the poorest segment of the population or changes in educational level, output distribution, and economic structural change. Although economists classify countries by income category, rankings by measures of the level of economic welfare form a continuum rather than a dichotomy.
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[DOC File]AP ECONOMICS CHAPTER 1 STUDY GUIDE
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7. Which economic goal would be the most difficult to measure or to quantify? A) economic growth. B) economic freedom. C) full employment . D) balance of trade . 8. A tradeoff exists between two economic goals, X and Y. This tradeoff means that: A) X causes Y. B) X and Y are equal. C) getting more of X requires getting more of Y.
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[DOC File]Geog 101: Chapter 3 Quiz
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8. The industrial revolution, which gave great impetus to economic growth, began where? 9. The first European initiative for exploration and conquest was by whom? 10. The economic dichotomy that occurs in countries where a modern commercial economy overlies a subsistence economy is called what? 11.
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[DOC File]AP ECONOMICS CHAPTER 2 STUDY GUIDE TB2
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B) economic freedom and income equality. C) scarce economic resources and unlimited economic wants. D) growing populations and the depletion of natural resources. 2. In every economic system, choices must be made because resources are: A) infinite, but economic wants are finite. B) finite, but economic wants are insatiable.
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[DOC File]Karl Marx’s theory of economic growth:
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The doctrine of surplus value is regarded as the weakest point in his theory of economic growth. Critics argue that all factors of production are needed to produce a commodity and workers alone cannot claim the entire volume of the commodity. Marxian theory of economic growth is applicable indirectly to developing countries.
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[DOC File]CHAPTER 17: TEST BANK
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F 7. Under socialism, the means of production are owned by the private sector. T 8. Economic growth may occur if there is a sustained increase in the quantity of physical capital and other resources. T 9. Improved technology can lead to economic growth. F 10. The U.S. savings rate is among the highest in the Western industrialized world. T 11.
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Economic growth means quizlet