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Quiz

ECON 2010 Test 1 Ch 9 Questions (got 96%)

108 Pages
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Department
Economics
Course Code
ECON 2010
Professor
All

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Chapter9EconomicGrowththeFinancialSystemandtheBusinessCycle91LongRunEconomicGrowth1WhichofthefollowingstatementsdescribestheexperiencesoftheBoeingCorporationsinceitwasestablishedin1916AlittleornogrowthinthelongrunandunaffectedbythebusinesscycleBstronggrowthinterruptedbyperiodsofbusinesscyclerecessionCstronguninterruptedgrowthindemandDlittleornogrowthinthelongrunbutveryvulnerabletothebusinesscycleAnswerBDiff1TypeMCPageRef694274TopicLongruneconomicgrowthSkillFactualObjectiveLO1DiscusstheimportanceoflongruneconomicgrowthAACSBCodingReflectiveThinkingSpecialFeatureChapterOpenerGrowthandtheBusinessCycleatBoeing2153Chapter 9 Economic Growth the Financial System and the Business CycleTechnologicaladvancesgenerallyresultinAincreasedlifeexpectancyBincreasedinfantmortalityratesCincreasedaveragenumberofhoursworkedperdayDdecreasedincomesAnswerADiff1TypeMCPageRef696276TopicLongruneconomicgrowthSkillConceptualObjectiveLO1DiscusstheimportanceoflongruneconomicgrowthAACSBCodingReflectiveThinkingSpecialFeatureNone3AgoodmeasureofthestandardoflivingisAtotalrealGDPBrealGDPpercapitaC154 Chapter 9 Economic Growth the Financial System and the Business CycletotalnominalGDPDnominalGDPpercapitaAnswerBDiff1TypeMCPageRef697277TopicLongruneconomicgrowthSkillConceptualObjectiveLO1DiscusstheimportanceoflongruneconomicgrowthAACSBCodingReflectiveThinkingSpecialFeatureNone4Since1990realGDPpercapitahasandthismeasuretheactualgrowthinstandardsoflivingintheUSoverthistimeAdecreasedoverstatesBdecreasedunderstatesCincreasedunderstatesD155
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