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- |The per capita output of an economy is likely to increase if: a. the government manages the foreign investment in the economy. O b. the population of the country grows faster than its labor force. O c. the government controls the number of illegal immigrant workers in the economy. O d. the government increases the tax rates. e. the number of workers in the economy grows faster than its population.Non-high-income countries are found in O a. In Asia, Western Europe, North America, and Africa O b. It can be found in all parts of the world O c. In Africa, South America, Asia, and Western Europe O d. In Africa, Asia, Eastern Europe, and Latin America O e. In Africa, Latin America, North America, Asia, and Europeor a country like Oman how can the Gross capital formation be increased? elect one: O a. None of these O b. All of these O c. Savings increases O d. GDP increases O e. Consumption increases
- QUESTION 20 Which af the fallawing is not an illustration of the notion of opportunity cost O A. The production of more military goods means fewer resources are available for civilian goods. O B. The land a Kansas farmer plants in wheat is not available for corn production. OCIFI buy a pizza, I will not be able to afford a mavie. O D.A growing economy can produce more consumer goods and mare capital goods at the same time. QUESTION 21 The diagram below shows the market for apples. Which of the following events might have caused the shift in the supply curve from S to S2 Pee OA. A sludy showing new health benelits af apples is published in the Washington Past O B. Orchad productivty increases due to a new fertiliser OC Orchard productivity decdines due to draught O D. None af the above QUESTION 22 When we study economics the objective is to learn: O A. how to allocate unlimited resources to satisly unlimited wants O B. how to allocate unlimited resources to satisfy limited uses O C. how…Microsoft Word - (2)p macro HW 1 B AaBbCc AaBbCAaBbCcDc AaBbCcDc 2 ulgi 1 ülaue blout Production Year 1 Good X 50 Good Y 100 Prices ear! $1.20 S0.60 Year 2 Year 3 Year 1 $1.00 S0.60 Year3 S1.20 50 60 140 120 1-Assume that this economy produces onlytwo goods Good Xand Good Y. The value for this economy's nominal GDP in year lis 2- Assume that this economy produces only two goods Good l'and Good Y The value for this economy'snominal GDP in year 3 is 3-Assume that this economy produces only two goods Good l'and Good Y The value for this economy s nominal GDP in yea 4-Assume that this econonmy produces onlyt 1 is the base year. the value for this economy sre land Good Y If year 5-Assume that this economy produces only two goods Good land Good Y If year 1 is the base vear. the value for this economy's GDP deflator in vear 1 is 6- Assume that this economy produces only two goods Good.I and Good Y If year 1 is the base year. the value for this economy's GDP deflator in year 2 is 7- Assume…Which of the following is not included in macro environment? O a. Competitors b. Economic O C. Political o d. Demographic
- Economy grows because: A. Labor force and capital stock grow. B. A country engages in foreign trade. O C. All of the above. O D. None of the above.Most countries, including the United States, importsubstantial amounts of goods and services from othercountries. Yet the chapter says that a nation can enjoya high standard of living only if it can produce alarge quantity of goods and services itself. Can youreconcile these two facts?LAS SAS SASg LAS SAS SAS Real GDP Figure A Real GDP Figure & LAS LAS SAS SAS1 LAS SASO SAS kwel GOP keal GDP Figure C வா 8 In the above figure which part corresponds to a destruction of part of the nation s capital stock? Select one. e. Figure D Ob Figure C Oc Figure B Od Figure A
- What would NOT be considered a factor of production? O O O capital O labour land stocksProduction possibilities Pizza Possibility In the above table, the production of 3 pizzas and 80 cases of soda is O feasible but would involve unemployed or misallocated resources. O possible only if there is inflation cono my produces with maximum efficiency. possible only if the ec O impossible uniess more resources become available or technology improves.Can you think of any examples of free goods, that is, goods or services that are not scarce?
