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Social Studies
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Cavin Siregar
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50 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
GDP is an imperfect measure of well-being because it
includes physical goods produced but not intangible services
excludes goods and services provided by the government
ignores the environmental degradation from economic activity
is not correlated with other measures of the quality of life
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If Mr. Keating quits his job as a teacher to home school his own children, GDP
stays the same because he is engaged in the same activity
rises because he now pays lower income taxes
falls because his market income decreases
could rise or fall, depending on the value of home schooling
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An economy produces 10 cookies in year 1 at a price of $2 per cookie and 12 cookies in year 2 at a price of $3 per cookie. From year 1 to year 2, real GDP increases by
20%
50%
70%
80%
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You deposit $2,000 in a savings account, and a year later you have $2,100. Meanwhile, the CPI rises from 200 to 204. In this case, the nominal interest rate is _________ percent, and the real interest rate is _________ percent.
1; 5
3; 5
5; 1
5; 3
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Thomas Robert Malthus believed that population growth would
spread the capital stock too thinly across the labor force, lowering each worker’s productivity.
put stress on the economy’s ability to produce food, dooming humans to remain in poverty
promote technological progress, because there would be more scientists and inventors.
eventually decline to sustainable levels, as birth control improved and people had smaller families.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When the Japanese car maker Toyota expands one of its car factories in the United States, what is the likely impact of this event on the gross domestic product and gross national product of the United States?
GDP rises and GNP falls.
GNP rises and GDP falls.
GDP and GNP both rise but GDP rises by more
GDP and GNP both rise but GNP rises by more.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a popular TV show on personal finance convinces Americans to save more for retirement, the _________ curve for loanable funds would shift, driving the equilibrium interest rate _________.
supply; down
supply; up
demand; up
demand; down
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