Test Bank For Economics and Contemporary Issues International Edition 9th Edition by William McLean

$25.00
admin

Edition: 9th Edition

Format: Downloadable ZIP Fille

Resource Type: test bank

Duration: Unlimited downloads

Delivery: Instant Download

Test Bank For Economics and Contemporary Issues International Edition 9th Edition by William McLean

ISBN-10: 1111823391, ISBN-13: 9781111823399

Chapter 1—Economic Growth: An Introduction to Scarcity and Choice

TRUE/FALSE

  1. Since 1977, the growth rate of per capita GDP in the U.S. has been lower than it was in previous periods.

ANS:  T                    PTS:   1

 

  1. The four primary resources are land, labor, capital, and entrepreneurship.

ANS:  T                    PTS:   1

 

  1. The production possibilities curve shows the maximum combinations of goods and services that can be produced by an economy when unemployment is below the natural rate.

ANS:  F                    PTS:   1

 

  1. All points on or below the production possibilities curve are attainable.

ANS:  T                    PTS:   1

 

  1. The economic decisions that influence growth are those that increase capital and improve technology.

ANS:  T                    PTS:   1

 

  1. It pays to increase the production of capital goods if the marginal cost of the production decision exceeds the marginal benefit.

ANS:  F                    PTS:   1

 

  1. It is always better for the economy to experience economic growth.

ANS:  F                    PTS:   1

 

  1. As resources are transferred from production of trucks to the production of computers, marginal cost of computers decreases.

ANS:  F                    PTS:   1

 

  1. Technological improvement allows more output to be obtained from a given level of inputs, thereby shifting the production possibilities curve to the right.

ANS:  T                    PTS:   1

 

  1. The decline in the growth of capital intensity in the United States has been caused largely by a rapid increase in labor inputs in addition to slow growth in capital inputs.

ANS:  T                    PTS:   1

Reviews

There are no reviews yet.

Be the first to review “Test Bank For Economics and Contemporary Issues International Edition 9th Edition by William McLean”

Your email address will not be published. Required fields are marked *

Vendor Information

  • Address:
  • No ratings found yet!