&magicnumber=25&category1=Economic Growth&category2=Real output and Labor&category3=Calculations&category4=Growth&category5=Witch of the Following&question1=Which of the following would be a major measure of economic growth: the rise in the price level, the fall in the rate of unemployment, changes in interest rates, or changes in real GDP?&question2=Which of the following would be a major measure of economic growth: increase in Nominal GDP, the fall in the rate of unemployment, increase in Per Capita Real GDP, or changes in Consumer Price Index?&question3=Which of the following would be a supply factor in economic growth: a fall in the efficient use of resources, a rise in the rate of resource depletion, an increase in the quantity of labor, or an increase in consumption spending?&question4=Which of the following would NOT be a supply factor in economic growth: an efficient allocation of resources, natural resources, the quantity and quality of labor, or technological knowledge?&question5=Which of the following would be a demand factor in economic growth: more human and natural resources, technological progress and innovation, an increase in the economy's stock of capital goods, or an increase in total spending in the economy?&question6=Is real GDP or total output in any year is equal to: labor inputs divided by resource outputs, labor productivity multiplied by real output, worker-hours multiplied by labor productivity, or worker-hours divided by labor productivity?&question7=The basic determinants of labor inputs (total hours of work) include which of the following: economies of scale and technological advance, education and training, and allocative efficiency, the size of the labor force and average hours of work, the quantity and quality of capital and human resources?  &question8=Which of the following will NOT increase the average productivity of labor: an increase in the stock of real capital, improvements in the education and health of the labor force, technological progress as reflected in more efficient capital goods, or an increase in the size of the labor force?&question9=If there is an increase in labor productivity which of the following would happen: the production possibilities curve would shift outward and the long-run aggregate supply curve would shift rightward, the production possibilities curve would shift inward and the long-run aggregate supply curve would shift leftward, the production possibilities curve would shift outward and the long-run aggregate supply curve would shift leftward, or the production possibilities curve would shift inward and the long-run aggregate supply curve would shift rightward?&question10=Rightward shift of the production possibilities curve means _______ economic growth, while a leftward shift of the production possibilities curve mean ________ economic growth.&question11=If in Year 1 the quantity of labor was 2000 and the productivity of labor was $200, and in Year 2 the quantity of labor was 2000 and the productivity of labor was $210, how much was the economy’s real GDP in Year 1?&question12=If in Year 1 the quantity of labor was 2000 and the productivity of labor was $200, and in Year 2 the quantity of labor was 2000 and the productivity of labor was $210, how much was the economy’s real GDP in Year 2?&question13=If in Year 1 the quantity of labor was 2000 and the productivity of labor was $200, and in Year 2 the quantity of labor was 2000 and the productivity of labor was $210, from Year 1 to Year 2 how much of a percentage did real GDP increase by?&question14=If an economy has 2,000 workers, each working 4,000 hours per year, and the average real output per worker-hour is $10, then what will the total output or real GDP be?&question15=If total output in an economy is $600,000 and the total work-hours in the economy are 40,000, how much is labor productivity?&question16=Over the last 60 years, the average annual rate of increase in real GDP has been about how much: less than 2.5%25, between 2.6%25 and 3.6%25, or over 3.7%25? &question17=In the last 60 years, the real GDP per capita in the United States has grown by an average annual rate of about…..&question18=A decline in a nation's rate of productivity growth will do which of the following: reduce the inflation rate, increase education and training, slow the growth of the standard of living, or make industry more competitive in world markets?&question19=The shift of labor out of agriculture to industry in the United States has caused which of the following:  tended to: reduce the rate of productivity growth, increase unemployment in the agriculture sector, reduce unemployment in the industrial sector, or increase labor productivity?&question20=The knowledge and skills that make a productive worker that are most commonly referred to by economists are: human capital, increasing returns, resource allocation, or simultaneous consumption?&question21=Which of the following has been historically true regarding the total amount of real capital per worker in the United States: it has provided financing for the industrial expansion of business, increased significantly and made labor more productive, been the single most important determinant of economic growth, or remained relatively constant, although the quality of capital has improved dramatically?&question22=Which of the following economic concepts would be most closely associated with a situation where an aluminum plant uses extensive computerization on the production line to reduce per-unit costs of production: Infrastructure, Human capital, Network effects, or Economies of scale?&question23=Which of the following would be an example of the movement of workers from lower productivity jobs to higher productivity jobs: Technological advance, Network effects, Simultaneous consumption, or improved resource allocation?&question24=Which of the following factors accounts for the largest increase in the productivity of labor in the United States: the education and training of workers, improved resource allocation, the quantity of capital, or technological advance?&question25=Which of the following is the single most important source of U.S. economic growth: stability of the socio-cultural-political environment, improvement in the legal and human environment, increases in the quantity of labor, or increases in labor productivity?&answer1=Changes in real GDP&answer2=Increase in Per Capita Real GDP&answer3=An increase in the quantity of labor&answer4=An efficient allocation of resources&answer5=An increase in total spending in the economy&answer6=worker-hours multiplied by labor productivity&answer7=The size of the labor force and average hours of work&answer8=An increase in the size of the labor force&answer9=The production possibilities curve would shift outward and the long-run aggregate supply curve would shift rightward&answer10=Positive, negative&answer11=$400,000&answer12=$420,000&answer13=5%25&answer14=$80,000,000 ($80 Million)&answer15=$15&answer16=3.5%25&answer17=2.3%25&answer18=Slow the growth of the standard of living&answer19=Increase labor productivity&answer20=Human capital&answer21=Increased significantly and made labor more productive&answer22=Economies of scale&answer23=Improved resource allocation&answer24=Technological advance&answer25=Increases in labor productivity&value1=10&value2=20&value3=30&value4=40&value5=50&value6=10&value7=20&value8=30&value9=40&value10=50&value11=10&value12=20&value13=30&value14=40&value15=50&value16=10&value17=20&value18=30&value19=40&value20=50&value21=10&value22=20&value23=30&value24=40&value25=50&finalquestion=&finalanswer=&gamename=Chapter25&loadresult=Load Success!