Ap ECO final exam section 5

Front

Increases in human capital can be achieved by which of the following? Reducing immigration of skilled workers, Building more factories, Increasing the physical capital per worker, Improving the quality of job-training programs, Increasing government spending on infrastructure

Back

Improving the quality of job-training programs

Front

Economic growth is best defined as

Back

a sustained increase in real gross domestic product per capita

Front

Which of the following causes economic growth? An increase in labor productivity, A decrease in the money supply, A decrease in the price level, An increase in nominal output, An increase in consumption spending

Back

An increase in labor productivity

Front

Economic growth is shown by a rightward shift in

Back

the production possibilities curve

Front

Which conclusion can be supported by the data in the table above? Options: Country X’s real GDP GDP growth rate is 7 percent., Country X’s real GDP GDP per capita is $4,000., Country X’s economy grew at a faster rate than Country Y’s economy did., Income is more equally distributed in Country X than in Country Y., Country Y’s real GDP GDP per capita is greater than Country X’s real GDP GDP per capita.

Back

Country Y’s real GDP GDP per capita is greater than Country X’s real GDP GDP per capita.

Front

In the aggregate demand-aggregate supply model, economic growth can best be represented by a: rightward shift of the aggregate demand curve, leftward shift of the aggregate demand curve, rightward shift of the short-run aggregate supply curve, rightward shift of the long-run aggregate supply curve, leftward shift of the long-run aggregate supply curve

Back

rightward shift of the long-run aggregate supply curve

Front

An increase in which of the following will most likely promote economic growth?
Options:
Interest rates,
Consumption of nondurable goods,
The price level,
Human capital,
Taxes on investment

Back

Human capital

Front

Which of the following will happen if a country’s government reduces business taxes? Options: The short-run Phillips curve will shift to the right., The short-run aggregate supply curve will shift to the right., The long-run aggregate supply curve will shift to the left., The aggregate demand curve will shift to the left., The demand curve for loanable funds will shift to the left.

Back

The short-run aggregate supply curve will shift to the right.

Front

Government investment in human capital is likely to shift

Back

the aggregate demand curve to the right in the short run and the aggregate supply curve to the right in the long run

Front

Which of the following policy changes is most likely to promote economic growth? An increase in tariffs on imported consumer goods, A decrease in investment tax credits for businesses, An increase in taxes on foreign financial inflows, A decrease in tuition fees at public colleges, An increase in tax rates on savings

Back

A decrease in tuition fees at public colleges