Which of the statements below regarding global poverty is FALSE?

• Life expectancy, birth and death rates also provide a sense of the poverty level in a country.
• Developed countries have a higher level of poverty than developing countries.
• GDP does not accurately portray a country's standard of living.
• The increasing global population has also increased poverty.

Some economists support the use of trade barriers when unemployment is high because of which of the following?

• Comparative advantage no longer applies.
• Domestic businesses have an incentive to produce efficiently.
• Trade barriers have a positive effect on an international level.
• Trade barriers serve special interests.

Which of the followingreflects price changes for goods in various stages of production, from raw to intermediate and final goods?

• CPI
• Nonfarm payroll
• Consumer confidence
• PPI

An increase in which of the following will cause a rightward shift of AD?

• Exports
• Imports
• Float
• Peg

Which description below corresponds to the United Nations Intergovernmental Panel on Climate Change?

• A global organization comprised of 2,000 scientists and researchers that is focused on the impact of climate change
• An organization devoted to takingregulatory action to reduce the negative effect ofexternalities produced by businesses
• A governing body that includes U.N. members who signed the Kyoto Protocol in 1997
• A nonprofit organization that employs a panel of leading economiststo conduct cost/benefit analysis on policies intended to address global problems

Which of the following describes one of the unexpected benefits of China's economic policies?

• The Chinese central bank printed extra currency to exchange with the U.S.
• The standard of living in the U.S. increased.
• U.S. exports to China increased.
• The GDP of the U.S. increased, and the GDP of China decreased.

GDP would be a poor indication of how well a country is doing economically for which of the scenarios below?

• For a country that has little or no offshore production
• For a country that has offshore production that is offset by onshore production by foreign nationals
• For a country that has an equal amount of onshore and offshore production
• For a country that is producing significantly in other nations, so there is repatriation of profits outside its borders.

Select the true statement below regarding economic indicators.

• Economic indicators provide a long term view of the economy.
• Economic indicators are macroeconomic by their very nature.
• Trends that describe what has already happened are considered coincident indicators.
• One single indicator can perfectly describe what is going on in the economy.

Which of the following is NOT a sustainable source of growth?

• Increase in population, leading to more people available in the work force
• Factors that shift the LRAS curve to the right
• Factors thatshift theSRAS curve but not the LRAS curve
• Invention of new forms of technology

Which statement below regarding monetary and fiscal policy is FALSE?

• The inverse relationship between inflation and unemploymentis known as the Phillips Curve.
• Expansionary policy causes AD to shift to the left.
• The situation where unemployment is high and inflation is high is stagflation.
• If AD increases too much, prices will increase and AD will return to equilibrium.

Which of the following are we NOT able to tell about a country's economic health by looking at labor force participation rates by gender?

• Standard of living
• Level of gender equality
• Measure of income inequality
• Access and availability of jobs

Because of its climate,Brazilhas the comparative advantage in coffeeproduction, while the United States has the comparative advantage in wheat production.

This would makewhich of the following statements about comparative advantage FALSE?

• Brazil gives up more wheat than the United States when it produces coffee.
• The United States can obtain coffee at a lower opportunity cost than if it produced it itself.
• If workers in Brazil produce wheat, they will have to give up a significant amount of coffee production.
• Both countries should trade based on comparative advantage.

The record of all monetarytransactions that flow across a country's bordersis known as which of the following?

• Capital account
• Current account
• National income accounting
• Balance of payment

Private loan seekers getting crowded out of the loan market by the government is a(n) __________.

• criticism of monetary policy
• advantage of fiscal policy
• advantage of monetary policy
• criticism of fiscal policy

Which of the following is one of the benefits of women being employed in occupations that paya living wage?

• A higher level of income inequality
• A higher amountof home responsibilities
• Higher resource availability to children
• A higher birth rate

Which statement below describes the effect of expansionary policy on the economy?

• It decreases the money supply.
• AD shifts to the left.
• It decreases consumer willingness to purchase.
• If AD increases past full employment, prices will rise and return us to equilibrium.

Which of the following is asocially responsible activity that could include corporate/employee matching contributions?

• Environmental management
• Supply chain
• Philanthropy
• Corporate governance

Which of the following is a clear example of sustainable economic growth?

• An energy company develops new drilling technology that makes it possible to access petroleum even deeper than what is currently possible.
• A machine is developed that can harvest fruits and vegetables at double the speed.
• Hydroponic technology makes it possible to grow more fruits and vegetables on a smaller piece of land.
• A lumber company invents a new machine that can harvest trees even faster than before.

When there is a decrease in the poverty rate, which of the followingwould also decrease?

• Life expectancy
• Population growth
• Literacy rate
• Standard of living

Which of the following is FALSE concerning using GDP to compare countries?

• GDP cannot measure non-market activities.
• GDP cannot measure consumption-led growth well.
• GDP cannot adequately measure leisure time.
• GDP cannot measure gains to all economic classes.