ECON 2301 Week 3 Quiz

ECON 2301 Week 3 Quiz | Assignment Help | Central Texas College

Review Test Submission: Quiz 6

Question 1

In order to promote growth in living standards, policymakers must

Question 2

Japan is                                             

Question 3

An increase in a country’s population may contribute to the rate of technological progress because a larger population                             

Question 4

Economists differ in their views of the role of the government in promoting economic growth. At the very least, the government should                                

Question 5

Adam and Doug both build birdhouses. Adam works 30 hours a week and produces 15 bird houses. Doug works 20 hours a week and produces 12 bird houses. Which of the following is correct?            

Question 6

In 1870, the richest country in the world was    

Question 7

A rapid increase in the number of workers, other things the same, is likely in the short term to                          

Question 8

Some poor countries appear to be falling behind rather than catching up with rich countries. Which of the following could explain the failure of a poor country to catch up?                           

Question 9

A country with a relatively low level of real GDP per person is considering adopting two policies to promote economic growth. The first is to decrease barriers to trade. The second is to restrict foreign portfolio investment. Which of these policies do most economists say promote growth?                         

Question 10

A barber shop produces 192 haircuts a day. Each barber in the shop works 8 hours per day and produces the same number of haircuts per hour. If the shop’s productivity is 2 haircuts per hour of labor, then how many barbers does the shop employ?