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WorksheetsPRE TEST LAB 3
Total questions: 15
Worksheet time: 19mins
Name
Class
Date
1.
The quantity of goods and services produced from each unit of labor point called
a)
Physical Capital
b)
Human Capital per Worker
c)
Productivity
d)
Natural Resources
e)
Technological Knowledge<br />
2.
A nation can enjoy a high standard of living only if it can
a)
Consume a large quantity of goods and services
b)
Manufcature a large quantity of goods
c)
Invest a large quantity of valuable capital
d)
produce a large quantity of goods and services
e)
do nothing
3.
The stock of equipment and structures used to produce goods and services is called physical capital, or just capital. Workers are more productive if
a)
Uplifting their education
b)
Having tools with which to work
c)
Having a great environment
d)
Being free of choice
e)
Having invested on their human capita
4.
Which one is not the factor of production?
a)
labor
b)
capital
c)
technology<br />
d)
Investment
e)
Entrepreneurship
5.
Increases in the amount of human capital in the economy tend to _________ real incomes becausethey increase the _________ of labor.
a)
increase; bargaining power
b)
increase; productivity
c)
decrease; bargaining power
d)
decrease; productivity
e)
Steady; Productivity
6.
Most economists are _________ that natural resources will eventually limit economic growth. As evidence, they note that the prices of most natural resources, adjusted for overall inflation, have tended to _________ over time.
a)
concerned; rise
b)
concerned; fall
c)
not concerned; rise
d)
concerned; steady
e)
not concerned; fall
7.
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?
a)
GDP rises and GNP falls
b)
GNP rises and GDP falls
c)
GDP falls and GNP falls
d)
GDP and GNP both rise but GDP rises by more.
e)
GDP and GNP both rise but GNP rises by more
8.
Thomas Robert Malthus believed that population growth would
a)
promote technological progress, because there would be more scientists and inventors
b)
put stress on the economy’s ability to produce food, dooming humans to remain in poverty
c)
spread the capital stock too thinly across the labor force, lowering each worker’s productivity
d)
eventually decline to sustainable levels, as birth control improved and people had smaller families
e)
establish extractive institutions, such as authoritarian governments, designed to exploit the region’s population and natural resources.
9.
The ability of insurance to spread risk is limited by
a)
risk aversion and moral hazard.
b)
risk aversion and adverse selection
c)
moral hazard and adverse selection.
d)
adverse selection only
e)
risk aversion only
10.
When you buy stock, you are buying shares in a business. To decide which businesses you want to own, it is natural to consider two things
a)
the extent of unionization of its workers and the dividens of the stock
b)
the detailed analysis of a company in order to estimate its value
c)
the study of a company’s accounting statements and future prospects to determine its value
d)
the price of that share of the business and the value at which the shares are being sold.
e)
the value of that share of the business and the price at which the shares are being sold.
11.
When following the stock of a company, you should keep an eye on three key numbers, except
a)
Firm specific risk
b)
Price
c)
Dividend
d)
Price-Earning Ration
e)
All are true
12.
The following point shows that theory of efficiency wages siad that above equilibrium wages paid by firm could support workers, except workers…
a)
health
b)
turnover
c)
quality
d)
effort
e)
productivity
13.
Individuals who would like to work but have given up looking for a job is called…
a)
discouraged workers
b)
productive workers
c)
laid off workers
d)
encouraged workers
e)
confused workers
14.
A government program that partially protects worker's income when they become unemployed is called
a)
social insurance
b)
social assistance
c)
unemployment insurance
d)
employment insurance
e)
workers insurance
15.
Unemployment that results because the number of jobs available in some labor markets is insufficient to provide a job for everyone who wants one is called …. unemployment
a)
frictional
b)
seasonal
c)
structural
d)
cyclical
e)
discouraged
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