Macro LMS - Chapter 25&26

Câu Hỏi 1
Which of the following is a good gauge of economic progress?

the level of real GDP per person, but not the growth rate of real GDP per person
the level of real GDP per person and the growth rate of real GDP per person
the growth rate of real GDP per person, but not the level of real GDP per person
neither the level nor the growth rate of real GDP per person
Câu Hỏi 2
A nation’s standard of living is determined by
the percentage of its GDP that is accounted for by government purchases.
the quantity of natural resources with which it is endowed.
the productivity of its workers.
factors and events that are beyond the nation’s control.
Câu Hỏi 3
A nation's standard of living is best measured by its
real GDP.
real GDP per person.
nominal GDP.
nominal GDP per person.
Câu Hỏi 4
In 2011, the imaginary nation of Maconia had a population of 8,200 and real GDP of 210,
500. Maconia had 5% growth in real GDP per person. In 2012 it had a population of 8,40
0. To the nearest dollar what was real GDP in Maconia in 2012?
216,815
221,025
226,416
None of the above is correct.
Câu Hỏi 5
Which of the following pairs of terms refer to the same thing?
“capital” and “physical capital”
“technological knowledge” and “human capital”
“standard of living” and “human capital”
“standard of living” and “productivity”
Câu Hỏi 6
Last year real GDP in the imaginary nation of Populia was 907.5 billion and the populatio
n was 3.3 million. The year before real GDP was 750 billion and the population was 3 mi
llion. What was the growth rate of real GDP per person during the year?
10 percent
14 percent
17 percent
21 percent
Câu Hỏi 7
Suppose that real GDP grew more in Country A than in Country B last year.
Country A must have a higher standard of living than country B.
Country A's productivity must have grown faster than country B's.
Both of the above are correct.
None of the above are correct.
Câu Hỏi 8
Given that a country’s real output has increased, in which of the following cases can we b
e sure that its productivity also has increased?
The total number of hours worked rose.
The total number of hours worked stayed the same.
The total number of hours worked fell.
Both b and c are correct.
Câu Hỏi 9
Which of the following items plays a role in determining productivity?
physical capital
natural resources
technological knowledge
All of the above are correct.
Câu Hỏi 10
Industrial machinery is an example of
a factor of production that in the past was an output from the production process.
physical capital.
something that influences productivity.
Câu Hỏi 11
Chưa trả lời
Đạt điểm 0,40
Đặt cờ
Đoạn văn câu hỏi
The equipment and structures available to produce goods and services are called
physical capital.
human capital.
the production function.
technology.
Clear my choice
Câu Hỏi 12
Chưa trả lời
Đạt điểm 0,40
Đặt cờ
Which of the following is not an example of physical capital?
a new factory building
a delivery van
the knowledge of workers
the office chair in a lawyer’s office
Clear my choice
Câu Hỏi 13
Chưa trả lời
Đạt điểm 0,40
Đặt cờ
Which of the following would increase productivity?
an increase in the physical capital stock per worker
an increase in human capital per worker
an increase in natural resources per worker
Clear my choice
Câu Hỏi 14
Chưa trả lời
Đạt điểm 0,40
Đặt cờ
Which of the following is a determinant of productivity?
human capital per worker
physical capital per worker
natural resources per worker

Clear my choice
Câu Hỏi 15
Chưa trả lời
Đạt điểm 0,40
Đặt cờ
Accumulating capital
requires that society sacrifice consumption goods in the present.
allows society to consume more in the present.
decreases saving rates.
involves no tradeoffs.
Clear my choice
Câu Hỏi 16
Chưa trả lời
Đạt điểm 0,40
Đặt cờ
“When workers have a relatively small quantity of capital to use in producing goods and
services, giving them an additional unit of capital increases their productivity by a relativ
ely large amount.” This statement
is an assertion that production functions have the property of constant returns to scale.
is consistent with the view that capital is subject to diminishing returns.
is inconsistent with the view that it is easier for a country to grow fast if it starts out relatively po
or.

Clear my choice
Câu Hỏi 17
Chưa trả lời
Đạt điểm 0,40
Đặt cờ
If there are diminishing returns to capital, then
capital produces fewer goods as it ages.
old ideas are not as useful as new ones.
increases in the capital stock eventually decrease output.
increases in the capital stock increase output by ever smaller amounts.
Clear my choice
Câu Hỏi 18
Chưa trả lời
Đạt điểm 0,40
Đặt cờ
An understanding of the best ways to produce goods and services is called
human capital.
physical capital.
technology.
productivity.
Clear my choice
Câu Hỏi 19
Chưa trả lời
Đạt điểm 0,40
Đặt cờ
Human capital is the
knowledge and skills that workers acquire through education, training, and experience.
stock of equipment and structures that is used to produce goods and services.
total number of hours worked in an economy.
same thing as technological knowledge.
Clear my choice
Câu Hỏi 20
Chưa trả lời
Đạt điểm 0,40
Đặt cờ
Which of the following is considered human capital? Knowledge acquired from
early childhood education programs
job training
on-the-job experience
Câu Hỏi 21
Câu trả lời đã được lưu
Đạt điểm 0,40
Đặt cờ
Which of the following is an example of human capital?
the comfortable chair in your dorm room where you read economics texts
the amount you get paid each week to work at the library
the things you have learned this semester
any capital goods that require a human to be present to operate
Clear my choice
Câu Hỏi 22
Đạt điểm 0,40
Đặt cờ
Which of the following are human capital and physical capital, respectively?
for an accounting firm: the accountants’ knowledge of tax laws and computer software
for a grocery store: grocery carts and shelving
for a school: chalkboard and desks
for a library: the building and the reference librarians’ knowledge of the Internet
Clear my choice
Câu Hỏi 23
Đạt điểm 0,40
Đặt cờ
Some poor countries appear to be falling behind rather than catching up with rich countri
es. Which of the following could explain the failure of a poor county to catch up?
The poor country has outward-oriented trade policies.
The poor country allows foreign direct investment.

The poor country has poorly developed property rights.
Clear my choice
Câu Hỏi 24
Đạt điểm 0,40
Đặt cờ
Last year the imaginary nation of Freedonia had a population of 2,700 and real GDP of
16,200,000. This year it had a population of 2,500 and real GDP of 14,640,000. What
was the growth rate of real GDP per person between last year and this year?
-2.4 percent
-0.7 percent
4.4 percent
5.2 percent
Clear my choice
Câu Hỏi 25
Đạt điểm 0,40
Đặt cờ
When the Japanese car maker Toyota expands one of its car factories in Vietnam, what is
the likely impact of this event on the GDP and GNI of Vietnam?
GDP rises and GNI falls.
GNI rises and GDP falls.
GDP shows a larger increase than GNI.

GNI shows a larger increase than GDP.
Question:
Last year, the imaginary nation of Freedonia had a population of 2,600 and real GDP of
$16,200,000. This year, it had a population of 2,750 and real GDP of $15,680,000. About what
was the growth rate of real GDP per person between last year and this year?
Real GDP of an Economy:

As per economics, the real GDP (gross domestic product) considers the overall value of all the
final services and products produced in an economy per annum.
Answer and Explanation:

The per capita real GDP (gross domestic product) can be computed by taking the ratio of the
real GDP and the total population. The calculation is for the years 2021 and 2022 and can be
considered as follows:
Per capita Real GDP of 2021=Real GDPTotal population=$16,200,0002,600=$6,230.77Per

capita Real GDP of 2022=Real GDPTotal population=$15,680,0002,750=$5,701.81
Now, considering the per capita real GDP values for both years, the growth rate of the same can
be computed. The calculation is given as follows:
Growth rate=Per capita Real GDP of 2022−Per capita Real GDP of 2021Per capita Real
GDP of 2021×100=$5,701.81−$6,230.77$6,230.77×100=−8.49%
1. Two bonds have the same term to maturity. The first was issued by a central government and th
e probability of default is believed to be low. The other was issued by a corporation and the prob
ability of default is believed to be high. Which of the following is correct?
A Because they have the same term to maturity the interest rates should be the same.
B Because of the differences in tax treatment and credit risk, the state bond should have the higher inerest rate.
C Because of the differences in tax treatment and credit risk, the corporate bond should have the higher interest rate.
D It is not possible to say if one bond has a higher interest rate than the other.
2. Which of the following is a certificate of indebtedness?
A. both stocks and bonds
B. stocks but not bonds
C. bonds but not stocks
D. neither stocks nor bonds
3. For a closed economy, GDP is $12 trillion, consumption is $7 trillion, taxesnet of
transfers are $3 trillion and the government runs a deficit of $1 trillion. What are
private saving and national saving?
A. $5 trillion and $3 trillion, respectively
B. $5 trillion and $1 trillion, respectively
C. $2 trillion and $3 trillion, respectively
D. $2 trillion and $1 trillion, respectively
4. You observe a closed economy that has a government deficit and positive investment. Which of t
he following is correct?
A. Private and public saving are both positive.
B. Private saving is positive; public saving is negative.
C. Private saving is negative; public saving is positive.
D. Both private saving and public saving are negative.
5. Nina wants to buy and operate an ice-cream truck but doesn’t have the financial resources to
start the business. She borrows $5,000 from her friend Max, to whom she promises an interest
rate of 7 percent, and gets another $10,000 from her friend David, to whom she promises a third
of her profits. What best describes this situation?
A. Max is a stockholder, and Nina is a bondholder.
B. Max is a stockholder, and David is a bondholder.
C. David is a stockholder, and Nina is a bondholder.
D. David is a stockholder, and Max is a bondholder.
6. In which of the following cases would it necessarily be true that national saving and private savi
ng are equal for a closed economy?
A. Private saving is equal to government expenditures.
B. Public saving is equal to investment.
C. After paying their taxes and paying for their consumption, households have nothing left.
D. The government’s tax revenue is equal to its expenditures.
7. We associate the term debt finance with
A. the bond market, and we associate the term equity finance with the stock market.
B. the stock market, and we associate the term equity finance with the bond market.
C. financial intermediaries, and we associate the term equity finance with financial markets.
D. financial markets, and we associate the term equity finance with financial intermediaries.
8. The primary economic function of the financial system is to
A. keep interest rates low.
B. provide expert advice to savers and investors.
C. match one person’s consumption expenditures with another person’s capital expenditures.
D. match one person’s saving with another person’s investment.
9. The fact that borrowers sometimes default on their loans by declaring bankruptcy is directly rel
ated to the characteristic of a bond called
A. credit risk.
B. interest risk.
C. term risk.
D. private risk.
10. In the first quarter 2020, Vietnam is suffering from the Covid-19 pandemic. What effect would
we expect this to have on the stock of companies?
A. raise the demand for existing shares of the stock, causing the price to rise
B. decrease the demand for existing shares of the stock, causing the price to fall
C. raise the supply of the existing shares of stock, causing the price to rise
D. raise the supply of the existing shares of stock, causing the price to fall
Câu Hỏi 11
The benefit of diversification when constructing a portfolio is that it can eliminate
A. speculative bubbles
B. risk aversion.
C. firm-specific risk.
D. market risk.
Câu Hỏi 12
Most financial decisions involve two related elements:
A. advice and consent.
B. investment and taxes.
C. time and risk.
D. saving and consumption.
Câu Hỏi 13
A closed economy has income of $1,000, government spending of $200, taxes of $150,
and investment of $250. What is private saving?
A. $100
B. $200
C. $300
D. $400
Câu Hỏi 14
A creditor of a corporation holds
bonds sold by the corporation. If the corporation experiences financial difficulties stock holders a
re paid before bond holders.
bonds sold by the corporation. If the corporation experiences financial difficulties bond holders a
re paid before stock holders.
stocks sold by the corporation. If the corporation experiences financial difficulties stock holders
are paid before bond holders.
stocks sold by the corporation. If the corporation experiences financial difficulties bond holders a
re paid before stock holders.
Clear my choice
Câu Hỏi 15
If the government collects more in tax revenue than it spends, and households
consume more than they get in after-tax income, then
private and public saving are both positive.
private and public saving are both negative.
private saving is positive, but public saving is negative.
private saving is negative, but public saving is positive.
Câu Hỏi 16
The sale of bonds
and stocks to raise money is called debt finance.
and stocks to raise money is called equity finance.
to raise money is called debt finance, while the sale of stocks to raise funds is called equity finan
ce.
to raise money is called equity finance, while the sale of stocks to raise funds is called debt finan
ce.
Câu Hỏi 17
Which of the following statements is correct?
The expected future profitability of a corporation influences the demand for that corporation’s st
ock.
When a corporation sells stock as a means of raising funds it is engaging in debt finance.
The owners of bonds sold by the Microsoft Corporation are part owners of that corporation.
All bonds are, by definition, perpetuities.
Clear my choice
Câu Hỏi 18
Chưa trả lời
Đạt điểm 0,50
Đặt cờ
The old adage, “Don’t put all your eggs in one basket,” is very similar to a modern bit of
advice concerning financial matters:
“Buy low-risk bonds.”
“Use a medium of exchange.”
“Diversify.”
“Intermediate.”
Clear my choice
Câu Hỏi 19
Chưa trả lời
Đạt điểm 0,50
Đặt cờ
In a closed economy, if Y remained the same, but G rose, T rose by the same amount as
G, and C fell but by less than the increase in T, what would happen to private and nationa
l saving?
national saving would fall and private saving would rise
national saving would rise and private saving would fall
both national saving and private saving would fall
None of the above is correct.
Clear my choice
Câu Hỏi 20
Chưa trả lời
Đạt điểm 0,50
Đặt cờ
Other things the same, when the interest rate rises, the present value of future revenues
from investment projects
rises, so investment spending rises.
falls, so investment spending rises.
rises, so investment spending falls.
falls, so investment spending falls.

Macro LMS - Chapter 25&26

Uploaded by

Copyright:

Available Formats

Macro LMS - Chapter 25&26

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Macro LMS - Chapter 25&26

Uploaded by

Copyright:

Available Formats

Câu Hỏi 1

Which of the following is a good gauge of economic progress?

the production function.

a new factory building

the office chair in a lawyer’s office

an increase in the physical capital stock per worker

an increase in human capital per worker

an increase in natural resources per worker

All of the above are correct.

human capital per worker

physical capital per worker

natural resources per worker

All of the above are correct.

requires that society sacrifice consumption goods in the present.

allows society to consume more in the present.

decreases saving rates.

is consistent with the view that capital is subject to diminishing returns.

All of the above are correct.

capital produces fewer goods as it ages.

old ideas are not as useful as new ones.

increases in the capital stock eventually decrease output.

increases in the capital stock increase output by ever smaller amounts.

total number of hours worked in an economy.

same thing as technological knowledge.

early childhood education programs

All of the above are correct.

the things you have learned this semester

any capital goods that require a human to be present to operate

for a grocery store: grocery carts and shelving

for a school: chalkboard and desks

The poor country has outward-oriented trade policies.

The poor country allows foreign direct investment.

All of the above are correct.

GDP rises and GNI falls.

GNI rises and GDP falls.

GDP shows a larger increase than GNI.

Real GDP of an Economy:

Answer and Explanation:

Per capita Real GDP of 2021=Real GDPTotal population=$16,200,0002,600=$6,230.77Per

“Buy low-risk bonds.”

“Use a medium of exchange.”

national saving would fall and private saving would rise

national saving would rise and private saving would fall

both national saving and private saving would fall

None of the above is correct.

rises, so investment spending rises.

falls, so investment spending rises.

rises, so investment spending falls.

falls, so investment spending falls.

You might also like