7/25/2019 ECO 302 Week 3 Quiz http://slidepdf.com/reader/full/eco-302-week-3-quiz 1/26 ECO 302 Week 3 Quiz - Strayer Click on The Link Below to Purchase ! "ra#e# Course $aterial http://budapp.net/ECO-302-Week-3-Quiz-Strayer-350.htm Cha%ter 2 an# 3 Cha%ter 2 T&'E()LSE 1. Nmina! #$% mea&ure& the d!!ar 'a!ue ( a!! )d& and &er'i*e& that an e*nmy prdu*e& in a parti*u!ar perid ( time. 2. #$% i& a *mp!ete mea&ure ( e*nmi* +e!(are. 3. #$% i)nre& +e!(are *han)e& due t en'irnmenta! dama)e. ,. a!ue added i& the di((eren*e bet+een *&t& ( prdu*tin and the pri*e ( a prdu*t. 5. he di((eren*e bet+een #$% and NN% i& the depre*iatin ( *apita!. . Nmina! #$% mea&ure& the tta! 'a!ue ( )d& and &er'i*e& adu&ted (r in(!atin. . #$% in *n&tant d!!ar& u&e& pri*e& (rm a ba&e year & that pri*e& d nt 'ary 'er time. . 4u&ine&& in'entrie& are in*!uded in the #$% *mpnent ( pri'ate dmen&ti* in'e&tment.
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. 6 (!+ 'ariab!e mea&ure& the d!!ar amunt ( )d& at a &pe*i(i* pintin time.
10. Cn*eptua!!y #$% mea&ured by in*me prdu*t and 'a!ue addedea*h e7ua! the &ame amunt.
$'LT*PLE C+O*CE
1. Nmina! #$% mea&ure& the:a. d!!ar 'a!ue ( a!! )d& and &er'i*e& prdu*ed in an e*nmy at a pint intime. *. d!!ar 'a!ue ( a!! )d& and &er'i*e& prdu*ed in an e*nmy durin) a&pe*i(ied time perid.
b. the *n&tant d!!ar 'a!ue ( a!! )d& and &er'i*e& prdu*ed in an e*nmy ata pint in time. d. the *n&tant d!!ar 'a!ue ( a!! )d& and &er'i*e&
prdu*ed in an e*nmy durin) a &pe*i(ied time perid.
2. 8mputed renta! in*me i&:a. the mney pep!e re*ei'e (rm rentin) prperty. *. +hat an +ner**upied hu&e +u!d (et*h n the market i( the +ner rented it.
b. the mney bu&ine&&e& pay (r rentin) prperty. d. the mney bu&ine&&e& re*ei'e (rm rentin) prperty.
3. 8n an e*nmy +ith t+ )d& beer and pizza i( pizza *&t& 910 per pie and beer *&t& 95 per &i pa*k and i( 100 &i pa*k& ( beer and 200 pizza& are prdu*ed in a year then nmina! #$% that year +u!d be:a. 92000. *. 91500.
b. 92500. d. nne ( the ab'e.
,. 8n an e*nmy +ith t+ )d& bur)er& and pizza i( pizza *&t& 915 per pie and bur)er& *&t& 95 per bur)er and i( 1000 bur)er and 200 pizza& are prdu*ed in a year then nmina! #$% that year +u!d be:a. 92,000. *. 91000.
5. ;ea! #$% i& #$%:a. in *n&tant d!!ar&. *. that *n&ider& in*me di&tributin.
b. in *urrent d!!ar&. d. that in*!ude& the 'a!ue ( !ei&ure.
. ;ea! #$% e7ua!&:a. nmina! #$% time& the imp!i*it pri*e !e'e!. *. the *urrent d!!ar 'a!ue ( a!! )d& and &er'i*e& prdu*ed in an e*nmy durin) a parti*u!ar time perid.
b. nmina! #$% di'ided by the imp!i*it pri*e !e'e!. d. rea! #$% time theimp!i*it pri*e !e'e!.
. he imp!i*it pri*e !e'e! i&:a. the rati ( nmina! t rea! #$%. *. the rati ( rea! t nmina! #$%
b. the prdu*t ( rea! and nmina! #$%.d. the di((eren*e bet+een rea! andnmina! #$%.
. 8( rea! #$% i& 120 and nmina! #$% i& 10 then the imp!i*it pri*e!e'e! i&:a. .5. *. 0.
b. 1.5. d. 2100.
. 8( rea! #$% i& 200 and nmina! #$% i& 10 then the imp!i*it pri*e!e'e! i&:a. 0. *. ,0.
b. 1.25 d. 32000.
10. #$% de& nt:a. *n&ider *han)e& in the di&tributin ( in*me. *. a&&i)n 'a!ue t!ei&ure time.
22. 4a&ed n the data in ab!e 2.2 )'ernment pur*ha&e& are:a. 90. tri!!in. *. 90. tri!!in.
b. 92., tri!!in. d. nne ( the ab'e.
23. 4a&ed n the data in ab!e 2.2 net eprt& ( )d& and &er'i*e& are:a. 90. tri!!in. *. -90. tri!!in.
b. 93.3 tri!!in. d. nne ( the ab'e.
2,. 4a&ed n the data in ab!e 2.2 )r&& dme&ti* prdu*t i&:a. 91. tri!!in. *. 91. tri!!in.
b. 915. tri!!in. d. nne ( the ab'e.
25. 4a&ed n the data in ab!e 2.2 net dme&ti* prdu*t i&:a. 915. tri!!in. *. 91. tri!!in.
b. 91. tri!!in. d. nne ( the ab'e.
2. E*nmi&t& &metime& u&e a *!&ed e*nmy mde! de&pite the (a*t (trade +ith the re&t ( the +r!d be*au&e:a. the +r!d a& a +h!e i& a *!&ed e*nmy. *. it &imp!i(ie& the ana!y&i&.
b. at !ea&t (r !ar)e *untrie& !ike the ?S eprt& and imprt& ha'e been &ma!!*mpared t #$%. d. a!! ( the ab'e.
2. E*nmi&t& &metime& u&e a *!&ed e*nmy mde! be*au&e:a. (e+ *untrie& a*tua!!y trade +ith ther&. *. eprt& and imprt& ha'en e((e*t n the e*nmy.
3. #r&& natina! prdu*t @#N%A i& )r&& dme&ti* prdu*t @#$%A:a. !e&& in*me re*eipt& (rm the re&t ( the +r!d !e&& in*me payment& t the
re&t ( the +r!d. *. p!u& in*me re*eipt& (rm the re&t ( the +r!d !e&&in*me payment& t the re&t ( the +r!d.
b. !e&& in*me re*eipt& (rm the re&t ( the +r!d p!u& in*me payment& t there&t ( the +r!d. d. !e&& in*me re*eipt& (rm the re&t ( the +r!d !e&&in*me payment& t the re&t ( the +r!d.
50. he *n&umer pri*e inde i& *n&tru*ted (rm:a. ta data. *. data (rm +h!e&a!e prdu*er&.
b. &ur'ey data. d. a!! ( the ab'e.
51. Nmina! #$% *an be mi&!eadin) primari!y be*au&e ita. de& nt in*!ude imputed renta! in*me. *. i& adu&ted (r in(!atin.
b. depend& n the 'era!! !e'e! ( pri*e&. d. de& nt in*!ude per&na!*n&umptin ependiture&.
52. Whi*h ( the (!!+in) +u!d NO be in*!uded in thi& year<& #$%Ba. the &a!e ( a ne+ ,-dr &edan *ar t a *n&umer. *. the &a!e ( ananti7ue autmbi!e t a anti7ue-*ar *!!e*tr.
b. the &a!e ( a ne+ *mputer t a &tudent. d. the &a!e ( a ne+ S? ta *n&umer.
53. Whi*h ( the (!!+in) +u!d be in*!uded in thi& year<& #$%Ba. the &a!e ( a ne+ *ar. *. the &a!e ( an ei&tin) hme.
b. the &a!e ( a u&ed *ar. d. the &a!e ( an anti7ue tab!e.
5,. 8n the *a!*u!atin ( rea! #$% a ba&e year i& u&ed (r mea&urin)a. renta! in*me. *. prdu*tin 7uantitie&.
b. +a)e&. d. pri*e&.
55. he *hain-+ei)hted mea&ure ( #$%a. u&e& a'era)e pri*e& ( )d& (r t+ ada*ent year&. *. u&e& the *urrent
pri*e& ( )d&. b. u&e& the pri*e ( )d& in a ba&e year &u*h a& the year 2000. d.
3. Whi*h ( the (!!+in) i& NO *!a&&i(ied a& a *n&umer durab!eBa. autmbi!e&. *. re(ri)eratr&.
b. (urniture. d. nne ( the ab'e.
,. Sea&na! adu&tment t ma*re*nmi* data *rre*t& m&t!y (r a. pri*e !e'e! *han)e&. *. the +eather and h!iday&.
b. prdu*t 7ua!ity *han)e&. d. the hu&in) indu&try *y*!e.
5. he &um ( 'a!ue added (rm a!! &e*tr& in an e*nmy i& e7ua! ta. natina! in*me. *. net natina! prdu*t.
b. #$%. d. @aA and @bA.
. 6 pttery &hp buy& *!ay and ther materia!& (r 920. Wrker& u&e themateria!& t make 5 b+!& that are &!d (r 9250 tta!. he 'a!ue added by the pttery&hp e7ua!&a. 90. *. 930.
b. 920. d. 9230.
S+O&T ,SWE&
1. What i& nmina! )r&& dme&ti* prdu*t @#$%AB
2. What i& rea! #$% and +hat make& it rea!BD
3. What i& the re!atin&hip bet+een nmina! and rea! #$%B
. 8n a prdu*tin (un*tin (r the e*nmy the mar)ina! prdu*t (*apita! typi*a!!y i& in*rea&in).
. Cn&tant return& t &*a!e in a prdu*tin (un*tin imp!y that dub!in) bth *apita! and !abr +i!! a!& dub!e utput.
10. he S!+ )r+th mde! indi*ate& that the )r+th rate ( rea! #$% per +rker depend& part!y n the &a'in) rate.
$'LT*PLE C+O*CE
1. Wr!d )r+th data &h+& that (rm 10 t 2000:a. the ?S and ther OEC$ *untrie& )re+ at mderate rate&. *. &me*untrie& parti*u!ar!y Ea&t 6&ian *untrie& )re+ rapid!y.
b. &ub-Saharan 6(ri*an *untrie& )re+ at !+ rate& r de*!ined. d. a!!( the ab'e.
2. Wr!d )r+th data re'ea!& that (rm 10 t 2000:a. the ?S and ther OEC$ *untrie& )re+ at mderate rate&. *. &me*untrie& parti*u!ar!y Ea&t 6&ian *untrie& )re+ a !+ rate& r de*!ined.
b. &ub-Saharan 6(ri*an *untrie& )re+ rapid!y. d. a!! ( the ab'e.
3. Wr!d )r+th data re'ea!& that (rm 10 t 2000:a. the ?S and ther OEC$ *untrie& &ta)nated.*. &me *untrie&
parti*u!ar!y Ea&t 6&ian *untrie& )re+ at !+ r ne)ati'e rate&.
b. &ub-Saharan 6(ri*an *untrie& )re+ at !+ r ne)ati'e rate&. d. a!!( the ab'e.
,. Wr!d )r+th data re'ea!& that (rm 10 t 2000:a. a!! *untrie& )re+ at &imi!ar rate&. *. &me *untrie& parti*u!ar!y Ea&t6&ian *untrie& )re+ rapid!y.
b. &ub-Saharan 6(ri*an *untrie& )re+ mderate!y. d. the ?S and therOEC$ *untrie& &ta)nated.
5. he ?S and ther OEC$ *untrie& had hi)h !e'e!& ( #$% per per&nin 2000 de&pite )r+in) at a mderate rate (rm 10 t 2000 be*au&e:a. ( ep!itatin ( (rei)n *untrie&. *. they &t!e the +ea!th ( !e&&
de'e!ped *untrie&. b. their e*nmie& had )r+n at a mderate rate (r a *entury r mre. d.
a!! ( the ab'e.
. 8( 6 in the prdu*tin (un*tin F 6 G =@H>A ri&e& then:a. utput ri&e& (r any !e'e! ( H and >. *. the mar)ina! prdu*t ( *apita!ri&e&.
b. the mar)ina! prdu*t ( !abr ri&e&. d. a!! ( the ab'e.
. 8( 6 in the prdu*tin (un*tin F 6 G =@H>A dub!e& +hi!e H and >remain the &ame thena. utput dub!e&. *. the mar)ina! prdu*t ( *apita! (a!!&.
b. the mar)ina! prdu*t ( !abr (a!!&. d. utput in*rea&e& by !e&& thandub!e.
. 6 in the prdu*tin (un*tin F 6 G =@H>A i&:a. the mar)ina! prdu*t ( !abr.*. the mar)ina! prdu*t ( *apita!.
b. the *apita! t !abr rati @H/>A. d. the !e'e! ( te*hn!)y.
. he mar)ina! prdu*t ( !abr i&:
a. h+ mu*h utput ri&e& (r +hen !abr in*rea&e& ne unit. *. !abrdi'ided by *apita! @>/HA
b. *apita! di'ided by !abr @H/>A. d. the !e'e! ( te*hn!)y.
10. he mar)ina! prdu*t ( *apita! i&:a. . *. the &!pe ( the prdu*tin +hen te*hn!)y and !abr are he!d*n&tant.
b. the *han)e in utput (r a unit *han)e in *apita!. d. a!! ( the ab'e.
12. 8n the prdu*tin (un*tin F 6 G =@H>A > i&:a. !ei&ure. *. the mar)ina! prdu*t ( !abr.
b. !abr. d. the mar)ina! prdu*t ( !ei&ure.
13. 8n the prdu*tin (un*tin F 6 G =@H>A i&:a. )d . *. the mar)ina! prdu*t ( )d .
b. prdu*tin. d. *n&tant return& t &*a!e.
1,. 6mn) the a&&umptin& made abut the prdu*tin (un*tin F 6 G@H>A i&:a. dimini&hin) mar)ina! prdu*t ( !abr. *. dimini&hin) mar)ina!
prdu*t ( *apita!. b. *n&tant return& t &*a!e. d. a!! ( the ab'e.
15. =r the prdu*tin (un*tin F 6 G =@H>A *n&tant return& t &*a!emean&:a. i( *apita! and !abr dub!e utput dub!e&. *. the mar)ina! prdu*t& (*apita! and !abr are *n&tant.
b. *apita! and !abr in*rea&e at a *n&tant rate. d. te*hn!)y i& *n&tant.
1. 8( the prdu*tin (un*tin F 6 G @H>A i& di'ided by > thena. @/>A F 6G(@H/>A. *. y F 6G(@kA.
b. utput per *apita e7ua!& te*hn!)y time& a (un*tin ( the *apita! !abr rati.d. a!! ( the ab'e.
a. in(!atin. *. bnd& (a!!in) in 'a!ue. b. bui!din)& needin) repair. d. a!! ( the ab'e.
31. $epre*iatin ( the *apita! &t*k **ur& due t:a. de(!atin. *. bnd& (a!!in) in 'a!ue.
b. 'ehi*!e& re7uirin) ne+ part&. d. a!! ( the ab'e.
32. $epre*iatin ( the *apita! &t*k **ur& due t:a. ma*hine& deteriratin). *. bui!din)& needin) repair.
b. 'ehi*!e& needin) part&. d. a!! ( the ab'e.
33. 8( there are 120 ma*hine& in an e*nmy and the depre*iatin rate i&5J per year then:a. depre*iatin i& 5 ma*hine& a year. *. depre*iatin i& 115 ma*hine& peryear.
b. depre*iatin i& ma*hine& a year. d. depre*iatin i& 11, ma*hine& peryear.
3,. 8( there are 120 ma*hine& in an e*nmy and the depre*iatin rate i&10J per year then net year there are:a. 10 ( the ri)ina! ma*hine& !e(t. *. 10 ( the ri)ina! ma*hine& !e(t.
b. 12 ( the ri)ina! ma*hine& !e(t. d. 110 ( the ri)ina! ma*hine& !e(t.
b. !abr (r*e parti*ipatin ri&e&. d. a!! ( the ab'e.
50. $urin) the tran&itin t the &teady &tate in the S!+ )r+th mde!:a. the utput per +rker (a!!&. *. the rate ( )r+th ( *apita! (a!!&.
b. !abr (r*e parti*ipatin ri&e&. d. a!! ( the ab'e.
51. $urin) the tran&itin t the &teady &tate in the S!+ )r+th mde!:a. the utput per +rker ri&e&. *. the rate ( )r+th ( *apita! (a!!&.
b. the *apita! t !abr rati ri&e&. d. a!! ( the ab'e.
52. he S!+ re&idua! i&:a. that part ( utput )r+th nt attributed t !abr (r*e )r+th. *. that
part ( utput )r+th nt attributed t *apita! &t*k )r+th and !abr (r*e )r+th. b. that part ( utput )r+th nt attributed t *apita! &t*k )r+th. d. the)r+th in utput.
53. he S!+ re&idua! i& that part ( utput )r+th attributed t:a. the )r+th rate ( the !abr (r*e. *. the )r+th rate ( the *apita!&t*k.
b. the )r+th rate ( utput. d. the )r+ rate ( te*hn!)y.
5,. he S!+ re&idua!:
a. i& nt dire*t!y b&er'ab!e. *. i& attributed t *apita! &t*k )r+th. b. attributed t !abr (r*e )r+th. d. i& attributed t !abr (r*e )r+thand *apita! &t*k )r+th.
55. E*nmi&t& u&e the term p'erty t identi(y pep!e +ha. earn !e&& than 95000 per year. *. ha'e n a**e&& t the internet athme.
b. earn !e&& than 9000 per year. d. ha'e di((i*u!ty a((rdin) (d and
5. 8n e*nmi*& the term ine7ua!ity de&*ribe&a. the &ame thin) a& p'erty. *. an une7ua! repre&entatin in the ?.N.
b. an une7ua! di&tributin ( in*me. d. di&parity amn) *untrie&< 'tin)ri)ht&.
5. $ata (rm re*ent de*ade& &h+ that e*nmi* )r+th !ed ta. a +r!d+ide in*rea&e in p'erty. *. an in*rea&e in p'erty in OEC$*untrie& n!y.
b. n &i)n(i*ant *han)e in p'erty. d. a +r!d+ide de*!ine in p'erty.
5. $ata (rm re*ent de*ade& &h+ that e*nmi* )r+th !ed ta. a +r!d+ide in*rea&e in ine7ua!ity. *. an de*rea&e in ine7ua!ity in Chinan!y.
b. n &i)n(i*ant *han)e in ine7ua!ity. d. a +r!d+ide de*rea&e inine7ua!ity.
5. he +r!d di&tributin ( rea! #$% per per&n in 2000 &h+& thata. OEC$ *untrie& dminate the bttm ( the di&tributin. *. &ub-Saharan 6(ri*an *untrie& dminate the bttm ( the di&tributin.
b. OEC$ *untrie& dminate the tp ( the di&tributin. d. bth @bAand @*A.
0. he +r!d di&tributin ( rea! #$% per per&n in 2000 &h+& thata. OEC$ *untrie& dminate the bttm ( the di&tributin. *. &ub-Saharan 6(ri*an *untrie& dminate the tp ( the di&tributin.
b. OEC$ *untrie& dminate the tp ( the di&tributin. d. bth @bAand @*A.
1. he &!pe ( a prdu*tin (un*tin in term& ( *apita! h!din)te*hn!)y and !abr (ied u&ua!!y
a. in*rea&e& +ith in*rea&e& in *apita!. *. de*rea&e& +ith in*rea&e& in*apita!.
b. remain& *n&tant +ith in*rea&e& in *apita!. d. either @aA r @bA.
2. he &!pe ( a prdu*tin (un*tin in term& ( !abr h!din)te*hn!)y and *apita! (ied u&ua!!ya. de*rea&e& +ith in*rea&e& in !abr. *. in*rea&e& +ith in*rea&e& in !abr.
b. remain& *n&tant +ith in*rea&e& in !abr. d. either @aA r @bA.
3. 6 bakery +ith a prdu*tin (un*tin ehibitin) *n&tant return& t&*a!e ha& 2 mier& and , +rker& +h prdu*e 10 *ake& per day. 8( the bakery +ner add& 2 mre mier& and , mre +rker& then prdu*tin +u!d m&t !ike!y
a. in*rea&e by 10 *ake& per day. *. de*rea&e by 2 *ake& per day. b. in*rea&e by ,0 *ake& per day. d. in*rea&e by 0 *ake& per day.
,. 8n the S!+ mde! the )r+th rate ( the *apita! &t*k i& a (un*tin ( a. the &a'in) rate and the depre*iatin rate. *. the !abr (r*e
parti*ipatin rate and the te*hn!)y )r+th rate. b. the &a'in) rate and the !abr (r*e parti*ipatin rate. d. the depre*iatinrate and the !abr (r*e parti*ipatin rate.
5. 8n the S!+ mde! the )r+th rate ( the !abr i& a (un*tin ( a. the &a'in) rate and the )r+th rate ( the ppu!atin. *. the !abr(r*e parti*ipatin rate and the hea!th te*hn!)y )r+th rate.
b. the &a'in) rate and the !abr (r*e parti*ipatin rate. d. the )r+th rate (the ppu!atin.
. 8n the S!+ )r+th mde! the a'era)e prdu*t ( *apita!a. in*rea&e& a& *apita! per +rker ri&e&. *. de*!ine& a& *apita! per +rkerri&e&.
b. remain& *n&tant a& *apita! per +rker ri&e&. d. de*!ine& then ri&e& a&*apita! per +rker ri&e&.