Question 1 Gross national product would include Not yet answered Select one: Points out of 1.00 O a. Final goods and services produced by American resources Flag b. Final goods and services produced in other countries by US firms question c. Final goods and services produced in the United States by US firms O d. Final goods and services produced in the United States Question 2 The country of Bolivia had a Gross Domestic Product of $79 billion in 2016 and a population of 11 million people, the GDP per capita would be Not yet answered Select one: Points out of 1.00 O a. about $14,000. Flag O b. $7.2. question O C. $7,900. O d. $7, 182. Question 3 The country of Norway has offered free college to students and some universities even offer free tuition to international students. Why would the Norwegian government support this tuition free environment? Not yet answered Select one: Points out of 1.00 O a. to facilitate growth by getting a better educated labor force Flag O b. to reduce unemployment numbers by showing more people as full time students. question O c. to increase the number of programs where national taxes can be applied O d. to contribute to economic health and growth by keeping more money in the pockets of students Question 4 The country of Wachovia has an economy that will double in 144 years. From what you've leamed of the power of compound growth what does this mean for Wachovia? Not yet answered Select one: Points out of 1.00 O a. Wachovia has a somewhat stalled economic growth of over 1% per year. Flag O b. Wachovia has a thriving and rapidly growing economy growing over 1% per year. question O c. Wachovia has a thriving and rapidly growing economy growing over 2% per year. O d. Wachovia has a slow growing economy at a growth rate of .5% per year. Question 5 The country of Wakanda for 2018 has a GDP of $555 billion, with a total of 2 million workers, each of which averages 1400 work hours a year. What is the value of the output per worker per hour of work? Not yet answered Select one: Points out of 1.00 O a. $792 Flag O b. $198 question O C. 4.5388.5 O d. $1980\f9L uoneeng Which of the following would fall in the Investment component of GDP? Not yet answered Select one: Points out of 1.00 O a. The amount spent on consumer durable goods. Flag O b. The amount households save uogsanb O c. The amount spent on stocks and bonds. O d. The amount spent on new factories. Question 17 With a Real GDP of $100 billion in 2016 and of $140 billion in 2017, the real growth would be Not yet answered Select one: Points out of O a. 71% 1.00 Flag O b. 7.1% question O c. 40% O d. 14% Question 18 Which of the following is an important source of labor productivity? Not yet answered Select one: Points out of 1.00 O a. The market demand for products. Flag O b. Low interest on business loans. question O c. Price of natural resources O d. Human capital Question 19 Zander read a report about the nation's GDP from last year. The report talks about the investment expenditures. What is included in the GDP calculation of investment? Not yet answered Select one: Points out of 1.00 O a. Stock market value of businesses Flag O b. additions to inventories. question O c. Total real estate value. O d. total value of capital stock.Question 20 If a country's Gross Domestic Product increased slower than its population increase, the country's GDP per capita would Not yet answered Select one: Points out of O a. not change significantly. 1.00 Flag O b. Remain the same question O c. fall. O d. Rise.Question 23 If Nominal GDP = $2.5 trillion and the GDP deflator is 125, then real GDP is equal to: Not yet answered Select one: Paints out of 1.00 O a. $1.5 trillion. Flag O b. $2 trillion. question O c. $3. 125 trillion O d. $3 trillion.Question 24 If Nominal GDP is $12,000 billion and the GDP deflator is 80, then Real GDP is: Not yet answered Select one: Paints out of O a. $15,000 billion 1.00 Flag O b. $9,600 billion uogsant O c. $ 21,600 billion O d. $6,667 billion\fQuestion 6 The difference between nominal GDP and real GDP is: Not yet answered Select one: Points out of 1.00 O a. nominal GDP measures actual aggregate production while real GDP measures the value of the production in 5. Flag O b. real GDP adjust for the effects of inflation. question O c. real GDP excludes imports and exports. O d. Nominal only include services while Real includes physical goods Question 7 The macroeconomy Not yet answered Select one: Points out of 1.00 O a. primarily studies government economic policies. Flag O b. regroups the activity of all households, firms and government in a country. question O c. focuses on firms and the production of goods and services. O d. Focuses on trade with other countries Question 8 What factors are left out of the Gross Domestic Product calculation but are still necessary in determining and reflecting our standard of living? Not yet answered Select one: Points out of 1.00 O a. Improvements in product quality, profit for shareholders ad business owners Flag O b. The value of our imports and exports, the value of leisure. question O c. The value of leisure, the quality of our environment, improvements in products quality. O d. The value of our imports, the improvements in product quality. Question 9 Which factors contribute to economic growth? Not yet answered Select one: Points out of 1.00 a. A decline in the stock of physical capital. Flag O b. A decrease in the quantity of labor due to emigration. question O c. A decrease in the number of government funded research programs O d. An increase in university graduates. Q L uoneeng Which is a factor that drives economic growth? Not yet answered Select one: Points out of 1.00 O a. Low prices Flag O b. Government spending. question O c. Increased human capital. O d. Decreased unemployment