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Question 5
1 pts
Fall 2021
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Questions 1-10 are based on the simple quantity
theory of money, and in each case we assume
that ceteris paribus holds.
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5. If the stock of money decreases, and there is
no change in the demand to hold money, the
exchange value of money would
Modules
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A
fall
Zoom
B
rise
Calendar
C
B
Inbox
ОА
History
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Question 6
1 pts
?
Help
Questions 1-10 are based on the simple quantity
theory of money, and in each case we assume
that ceteris paribus holds.
6. If the exchange value of money falls, the
average level of prices would
А.
fall
B
rise
B
OA
Question 7
1 pts
I
10:19 AM Sat Oct 30
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Question 1
1 pts
Fall 2021
Home
Assignments
Questions 1-10 are based on the simple quantity
theory of money, and in each case we assume that
ceteris paribus holds.
Account
Grades
Files
Dashboard
1. In this model, the purchasing power of money
(the price of money) is an
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A
endogenous variable
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B
exogenous variable
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OA
Inbox
B
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Question 2
1 pts
?
Help
Questions 1-10 are based on the simple quantity
theory of money, and in each case we assume
that ceteris paribus holds.
2. In the dynamic version of this model, the rate
of inflation (the rate at which the average level of
prices rises) is an
A
endogenous variable
B
exogenous variable
OA
B
Question 3
1 pts
K
10:20 AM Sat Oct 30
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Fall 2021
Question 7
1 pts
Home
Assignments
Questions 1-10 are based on the simple quantity
theory of money, and in each case we assume
that ceteris paribus holds.
Account
Grades
Files
Dashboard
7. If the stock of money increases at a slower rate
than previously, the rate of inflation would
Modules
NetTutor
А.
fall
Courses
Zoom
B
rise
Calendar
B
Inbox
OA
History
606
Studio
Question 8
1 pts
?
Help
Questions 1-10 are based on the simple quantity
theory of money, and in each case we assume
that ceteris paribus holds.
8. If the exchange value of money rises, the
average level of prices would
A
fall
B
rise
ОА
B
Question 9
1 pts
K
Questions 1-10 are based on the simple quantity
10:20 AM Sat Oct 30
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Fall 2021
Question 3
1 pts
Home
Assignments
Questions 1-10 are based on the simple quantity
theory of money, and in each case we assume
that ceteris paribus holds.
Account
Grades
Files
Dashboard
3. If people decide to hold more of their wealth in
the form of money, the demand for money would
Modules
NetTutor
А.
fall
Courses
Zoom
B
rise
Calendar
ОА
Inbox
B
History
606
Studio
Question 4
1 pts
?
Help
Questions 1-10 are based on the simple quantity
theory of money, and in each case we assume
that ceteris paribus holds.
4. If the demand for money falls, and there is no
change in the stock of money, the exchange value
of money would
A
fall
B
rise
ОА
B
Question 5
1 pts
K
11:03 AM Sat Oct 30
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deanza.instructure.com
Fall 2021
Home
Question 7
1 pts
Assignments
Account
Grades
Files
Questions 1-10 are based on the simple quantity
theory of money, and in each case we assume
that ceteris paribus holds.
Dashboard
Modules
NetTutor
7. If the stock of money increases at a slower rate
than previously, the rate of inflation would
Courses
Zoom
A
fall
Calendar
B
rise
C
Inbox
ОА
History
606
Studio
?
Question 8
1 pts
Help
Questions 1-10 are based on the simple quantity
theory of money, and in each case we assume
that ceteris paribus holds.
8. If the exchange value of money rises, the
average level of prices would
A
fall
B
rise
ОА
OB
I
Question 9
1 pts
11:03 AM Sat Oct 30
1%
deanza.instructure.com
Question 9
1 pts
Fall 2021
Home
Assignments
Questions 1-10 are based on the simple quantity
theory of money, and in each case we assume
that ceteris paribus holds.
Account
Grades
Files
Dashboard
9. If debit cards were gradually to replace credit
cards as a means of payment, this would cause
households to
Modules
NetTutor
Courses
increase their demand to hold money
A
balances
Zoom
Calendar
reduce their demand to hold money
B
balances
C
Inbox
B
History
A
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?
Question 10
1 pts
Help
Questions 1-10 are based on the simple quantity
theory of money, and in each case we assume
that ceteris paribus holds.
10. Following the discovery of gold deposits in
South Africa and the cyanide process that made it
cheaper to extract the gold, the demand to hold
money increased slower than the stock of money,
and the British economy experienced
A
a falling average level of prices (deflation)
B
a rising average level of prices (inflation)
B
ОА
I
11:03 AM Sat Oct 30
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Question 11
1 pts
Fall 2021
Home
Assignments
Questions 11-14 test your understanding of real
versus nominal values.
Account
Grades
Questions 11-12 assume that real GDP is rising.
Files
Dashboard
Modules
11. If the average level of prices (as measured by
a price index) is rising, nominal GDP would
NetTutor
A
rise faster than real GDP
Courses
Zoom
B
rise slower than real GDP
Calendar
с
fall
C
Inbox
OA
B
History
606
Studio
?
Help
Question 12
1 pts
Questions 11-14 test your understanding of real
versus nominal values.
Questions 11-12 assume that real GDP is rising.
12. If the average level of prices (as measured by
a price index) is falling, nominal GDP would
A
rise faster than real GDP
B
rise slower than real GDP
С
fall
D
either A or B
E
either B or C
I
ОА
11:13 AM Sat Oct 30
2%
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D Question 13
1 pts
Fall 2021
Home
Questions 11-14 test your understanding of real
versus nominal values.
Assignments
Account
Grades
Questions 13-14 assume that real GDP is falling.
Files
13. If the average level of prices (as measured by
a price index) is rising, nominal GDP would
Dashboard
Modules
A
rise
NetTutor
Courses
B
fall
Zoom
С
either A or B
Calendar
C
Inbox
OA
B
History
J506
Studio
?
Question 14
1 pts
Help
Questions 11-14 test your understanding of real
versus nominal values.
Questions 13-14 assume that real GDP is falling.
14. If the average level of prices (as measured by
a price index) is falling, nominal GDP would
A
rise
B
fall faster than real GDP
С
fall slower than real GDP
A
ОС
I
11:13 AM Sat Oct 30
2%
Unlocked
deanza.instructure.com
Question 15
1 pts
Fall 2021
Home
Questions 15-18 test your understanding of
economic growth.
Assignments
Account
Grades
15. Which statement below is TRUE?
Files
A If real GDP grows slower than population,
real GDP per person would fall.
Dashboard
Modules
NetTutor
B If population grows slower than real GDP,
real GDP per person would increase.
Courses
Zoom
С
Both A and B are true.
Calendar
Inbox
B
ΟΑ
History
606
Studio
?
Question 16
1 pts
Help
Questions 15-18 test your understanding of
economic growth.
16. Rising gross domestic product (GDP) per
person is known as
A
extensive growth
B
intensive growth
B
OA
Question 17
1 pts
K
11:13 AM Sat Oct 30
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D
Question 17
1 pts
Fall 2021
Home
Questions 14-18 test your understanding of
economic growth.
Assignments
Account
Grades
Files
Dashboard
Modules
17. Adam Smith's An Inquiry into the Nature and
Causes of the Wealth of Nations (1776) includes a
detailed description of a pin factory that
exemplified a high degree of specialization and
division of labor and which was made possible by
the more extensive use of money and markets.
These are characteristic of
NetTutor
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A
Smithian growth
C
B
Promethean growth
Inbox
B
History
ОА
606
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?
Help
Question 18
1 pts
Questions 14-18 test your understanding of
economic growth.
18. Capital accumulation accompanied by
technological innovation is characteristic of
A
Smithian growth
B
Promethean growth
B
ΟΑ
I
Question 19
1 pts
11:15 AM Sat Oct 30
2%
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D
Question 19
1 pts
Fall 2021
Home
19. Identify the correct statements below.
(Choose one or more.)
Assignments
Account
Grades
A The first country to experience the
industrial revolution was Britain in the second half
of the eighteenth century.
Files
Dashboard
Modules
NetTutor
B Business fluctuations have been a feature
of the British economy since at least the time of
the industrial revolution.
Courses
Zoom
Calendar
С Business fluctuations are regular and
predictable.
C
Inbox
D Recoveries are characterized by rising
output and employment.
History
E Generally speaking, recessions last longer
than recoveries.
606
Studio
ОА
?
Help
OC
U
D
B
Question 20
1 pts
20. An analysis of the gains from trade among
two households in an isolated village implies that
(choose one or both)
A each household specializes in the
production of the good in which they enjoy a
comparative advantage
I
B
each household specializes in the
11:15 AM Sat Oct 30
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Fall 2021
С Business fluctuations are regular and
predictable.
Home
Assignments
D Recoveries are characterized by rising
output and employment.
Account
Grades
E Generally speaking, recessions last longer
than recoveries.
Files
Dashboard
Modules
A
NetTutor
Courses
ОЕ
Zoom
圖』
ОС
Calendar
o
U
Inbox
OB
History
606
Studio
Question 20
1 pts
?
Help
20. An analysis of the gains from trade among
two households in an isolated village implies that
(choose one or both)
A each household specializes in the
production of the good in which they enjoy a
comparative advantage
B
each household specializes in the
production of the good for which the opportunity
cost of production is low
ОА
B
Question 21
1 pts
K
11:15 AM Sat Oct 30
2%
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Fall 2021
Question 25
1 pts
Home
Assignments
Account
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Question 25 tests your understanding of how
people's expectations of future prices affect
current prices.
Files
Dashboard
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25. Here are two statements about how people's
expectations of future prices affect current prices.
NetTutor
Courses
Zoom
圖』
1 If both buyers and sellers expect the price
to rise next period, the price would fall in the
current period.
Calendar
Inbox
II If buyers expect the price to rise next
period and sellers expect the price to fall next
period, the quantity traded would rise in the
current period.
History
Choose the correct option from the list below.
606
Studio
A
Neither statement is true.
B
?
Only 1 is true.
Help
С
Only II is true.
D Both statements are true.
ОА
B
Question 26
1 pts
K
Question 26 tests your understanding of the
difference
11:26 AM Sat Oct 30
5%
<
>
AA
deanza.instructure.com
+
S SOLUTION:...
S answer_1.docx
x Quiz: Econ 1...
Chapter 14 FI...
G If the averag...
C 60. Inventors...
Fall 2021
Question 29
1 pts
Home
Assignments
the most volatile category of
Account
Grades
29. Which
spending?
Files
A
consumption
Dashboard
Modules
B
government purchases
NetTutor
Courses
с
gross investment
Zoom
Calendar
B
Eh
Inbox
ОА
Ос
History
606
Studio
Question 30
1 pts
(?
Help
30. Which category of gross investment spending
can be negative?
A
change in inventories
В
infrastructure
С
plant and equipment
B
ОС
OA
I
Question 31
1 pts
11:26 AM Sat Oct 30
5%
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Fall 2021
Question 31
1 pts
Home
Assignments
31. Which item is included in GDP?
Account
Grades
A
the imputed value of home-prepared
meals
Files
Dashboard
B
Modules
the market value of illegal narcotics
NetTutor
Courses
С the imputed rental value of owner-
occupied homes
Zoom
Calendar
B
ОА
Inbox
Ос
History
606
Studio
Question 32
1 pts
?
Help
32. World GDP is
A
equal to world GNP
B
greater than world GNP
С
smaller than world GNP
A
B
Question 33
1 pts
K
11:26 AM Sat Oct 30
5%
deanza.instructure.com
Fall 2021
Question 33
1 pts
Home
Assignments
Account
Grades
33. Production requires labor and capital.
The stock of capital per worker would fall if
Files
Dashboard
Modules
A depreciation exceeded gross
investment and the labor force remained the
NetTutor
same.
Courses
Zoom
B the stock of capital was unchanged
and the labor force fell.
Calendar
C
С the stock of capital grew faster than
the labor force.
Inbox
History
ОА
606
Studio
B
?
ОС
Help
Question 34
1 pts
34. Which statement below is TRUE?
A
Capital is a stock and income is a flow.
B
Incon
is a
and capital is a
ow.
B
A
I
Question 35
1 pts
11:26 AM Sat Oct 30
5%
Odeanza.instructure.com
Question 35
1 pts
Fall 2021
Home
Assignments
35. Which statement(s) below is (are) TRUE?
(Choose one or more.)
Account
Grades
A If real GDP grows slower than population,
real GDP per person would fall.
Files
Dashboard
Modules
B If population grows slower than real GDP,
real GDP per person would increase.
NetTutor
Courses
Zoom
с If real GDP grows slower than nominal
GDP, the GDP deflator would fall.
Calendar
C
B
Inbox
a
History
ОА
606
Studio
?
Question 36
1 pts
Help
36. Which statement(s) below is (are) TRUE?
A GDP could increase despite a
deterioration in the quality of the environment.
B GDP does not take into account the
distribution of household incomes.
С GDP includes the contribution of
homemakers, such as stay-at-home parents.
ОС
B
ОА
I
11:30 AM Sat Oct 30
5%
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Question 13
1 pts
Fall 2021
Home
Assignments
Questions 11-14 test your understanding of real
versus nominal values.
Account
Grades
Questions 13-14 assume that real GDP is falling.
Files
Dashboard
13. If the average level of prices (as measured by
a price index) is rising, nominal GDP would
Modules
NetTutor
A
rise
Courses
Zoom
B
fall
Calendar
С
either A or B
Inbox
OA
B
History
ОС
606
Studio
?
Help
Question 14
1 pts
Questions 11-14 test your understanding of real
versus nominal values.
Questions 13-14 assume that real GDP is falling.
14. If the average level of prices (as measured by
a price index) is falling, nominal GDP would
A
rise
B
fall faster than real GDP
С
fall slower than real GDP
ОА
B
K
С
11:30 AM Sat Oct 30
5%
deanza.instructure.com
Question 15
1 pts
Fall 2021
Home
Assignments
Questions 15-18 test your understanding of
economic growth.
Account
Grades
15. Which statement below is TRUE?
Files
Dashboard
Modules
A If real GDP grows slower than population,
real GDP per person would fall.
NetTutor
Courses
B If population grows slower than real GDP,
real GDP per person would increase.
Zoom
C
Both A and B are true.
Calendar
C
Inbox
Ос
B
History
ОА
606
Studio
?
Question 16
1 pts
Help
Questions 15-18 test your understanding of
economic growth.
16. Rising gross domestic product (GDP) per
person is known as
A
extensive growth
B
intensive growth
B
ОА
Question 17
1 pts
I
11:30 AM Sat Oct 30
5%
Odeanza.instructure.com
Question 19
1 pts
Fall 2021
Home
Assignments
19. Identify the correct statements below.
(Choose one or more.)
Account
Grades
Files
A The first country to experience the
industrial revolution was Britain in the second half
of the eighteenth century.
Dashboard
Modules
NetTutor
Courses
B Business fluctuations have been a feature
of the British economy since at least the time of
the industrial revolution.
Zoom
Calendar
С Business fluctuations are regular and
predictable.
C
Inbox
D Recoveries are characterized by rising
output and employment.
History
E Generally speaking, recessions last longer
than recoveries.
606
Studio
?
ОА
Help
o
U
D
B
Question 20
1 pts
20. An analysis of the gains from trade among
two households in an isolated village implies that
(choose one or both)
A each household specializes in the
production of the good in which they enjoy a
comparative advantage
I
11:30 AM Sat Oct 30
5%
Odeanza.instructure.com
Question 19
1 pts
Fall 2021
Home
Assignments
19. Identify the correct statements below.
(Choose one or more.)
Account
Grades
Files
A The first country to experience the
industrial revolution was Britain in the second half
of the eighteenth century.
Dashboard
Modules
NetTutor
Courses
B Business fluctuations have been a feature
of the British economy since at least the time of
the industrial revolution.
Zoom
Calendar
С Business fluctuations are regular and
predictable.
C
Inbox
D Recoveries are characterized by rising
output and employment.
History
E Generally speaking, recessions last longer
than recoveries.
606
Studio
?
ОА
Help
o
U
D
B
Question 20
1 pts
20. An analysis of the gains from trade among
two households in an isolated village implies that
(choose one or both)
A each household specializes in the
production of the good in which they enjoy a
comparative advantage
I
11:32 AM Sat Oct 30
5%
deanza.instructure.com
Question 27
1 pts
Fall 2021
Home
Assignments
Questions 27-39 test your understanding of gross
domestic product (GDP) and gross national
product (GNP).
Account
Grades
Files
27. Consider the equation GDP = C+I+G+ NX.
Which statement below is FALSE?
Dashboard
Modules
A
C is consumption.
NetTutor
Courses
B
Lis investment.
Zoom
Calendar
С G is total spending by local, state, and
federal governments.
C
Inbox
D G is total spending on goods and services
by local, state, and federal governments.
E
NX is net exports.
History
606
Studio
?
ОА
Help
B
OE
Question 28
1 pts
28. Gross domestic product (GDP) does NOT
include an estimate for
A
building new apartments
B
building new extensions to existing homes
С
current repairs to existing houses
D
the value of the sales of existing houses
I
F
ces rend
red by reali
11:32 AM Sat Oct 30
5%
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Fall 2021
Question 26
1 pts
Home
Assignments
Account
Grades
Question 26 tests your understanding of the
difference
between endogenous and exogenous variables.
Files
Dashboard
Modules
NetTutor
26. Economic historians disagree on how
economic growth and population growth are
related. Which statement below implies
that economic growth is
endogenous and population growth is exogenous?
Courses
Zoom
Calendar
A Economic growth drives population
growth.
Inbox
B Population growth drives economic
growth.
History
A
606
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B
?
Help
Question 27
1 pts
Questions 27-39 test your understanding of gross
domestic product (GDP) and gross national
product (GNP).
27. Consider the equation GDP = C + I + G + NX.
Which statement below is FALSE?
A
C is consumption.
B
Tis investment.
С G is total spending by local, state, and
federal governments.
D G is total spending on goods and services
by local, state, and federal governments.
K
11:32 AM Sat Oct 30
5%
Odeanza.instructure.com
Fall 2021
Question 28
1 pts
Home
Assignments
28. Gross domestic product (GDP) does NOT
include an estimate for
Account
Grades
A
building new apartments
Files
Dashboard
B
building new extensions to existing homes
Modules
С
current repairs to existing houses
NetTutor
Courses
D
the value of the sales of existing houses
Zoom
E
services rendered by realtors
Calendar
C
O
A
Inbox
B
History
O
E
606
Studio
?
Help
Question 29
1 pts
29. Which is the most volatile category of
spending?
A
consumption
B
government purchases
С
gross investment
B
A
O
ОС
I
11:37 AM Sat Oct 30
7% 64
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Question 30
1 pts
Fall 2021
Home
Assignments
30. Which category of gross investment spending
can be negative?
Account
Grades
A
change in inventories
Files
B
infrastructure
Dashboard
Modules
С
plant and equipment
NetTutor
Courses
Zoom
B
Calendar
ОА
Inbox
History
Question 31
1 pts
606
Studio
?
31. Which item is included in GDP?
Help
the imputed value of home-prepared
A
meals
B
the market value of illegal narcotics
С the imputed rental value of owner-
occupied homes
B
ОА
Ос
Question 32
1 pts
K
32. World GDP is
11:37 AM Sat Oct 30
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Question 32
1 pts
Fall 2021
Home
32. World GDP is
Assignments
A
equal to world GNP
Account
Grades
B
greater than world GNP
Files
Dashboard
с
smaller than world GNP
Modules
NetTutor
Courses
ОС
Zoom
OA
Calendar
B
Inbox
History
Question 33
1 pts
606
Studio
?
33. Production requires labor and capital.
The stock of capital per worker would fall if
Help
A depreciation exceeded gross
investment and the labor force remained the
same.
B the stock of capital was unchanged
and the labor force fell.
С the stock of capital grew faster than
the labor force.
ОА
B
K
11:38 AM Sat Oct 30
7% 64
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Fall 2021
Question 34
1 pts
Home
Assignments
34. Which statement below is TRUE?
Account
Grades
A
Capital is a stock and income is a flow.
Files
B
Income is a stock and capital is a flow.
Dashboard
Modules
B
NetTutor
Courses
ОА
Zoom
Calendar
Inbox
Question 35
1 pts
History
35. Which statement(s) below is (are) TRUE?
(Choose one or more.)
606
Studio
A If real GDP grows slower than population,
real GDP per person would fall.
?
Help
B If population grows slower than real GDP,
real GDP per person would increase.
С If real GDP grows slower than nominal
GDP, the GDP deflator would fall.
B
ОС
ОА
Question 36
1 pts
36. Which statement(s) below is (are) TRUE?
K
A
GDP could increase despite a
11:42 AM Sat Oct 30
8%
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Question 36
1 pts
Fall 2021
Home
36. Which statement(s) below is (are) TRUE?
Assignments
Account
Grades
A GDP could increase despite a
deterioration in the quality of the environment.
Files
Dashboard
B GDP does not take into account the
distribution of household incomes.
Modules
NetTutor
Courses
с GDP includes the contribution of
homemakers, such as stay-at-home parents.
Zoom
Calendar
B
Inbox
ОА
History
606
Studio
Question 37
1 pts
?
Help
37. Which statement(s) below is (are) TRUE?
(Choose one or more.)
A GDP exhibits regular seasonal fluctuations
for which statisticians make adjustments.
B Your tuition payments count as
investment (I).
С The construction of a new student union
at De Anza College would count as government
spending (G).
D Your holiday in Mexico counts as a
deduction when calculating net exports (NX).
E Median household income is lower than
average household income.
K
ОА
11:42 AM Sat Oct 30
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Question 38
1 pts
Fall 2021
Home
Assignments
Account
Grades
38. If government statisticians ignore
improvements in the quality of consumer goods,
would the consumer price
index overestimate or underestimate the rate of
increase in consumer prices?
Files
Dashboard
Modules
A It would overestimate the rate of increase
in consumer prices.
NetTutor
Courses
Zoom
B It would underestimate the rate of
increase in consumer prices.
Calendar
ОА
Inbox
B
History
606
Studio
Question 39
1 pts
?
Help
39. Which statement(s) below is (are) TRUE?
(Choose one or more.)
A Consumption (C) includes an estimate of
the imputed rental value of all owner-occupied
homes irrespective of when they were built.
B Investment (1) includes an estimate of the
value of all new homes built irrespective of
whether they are bought by owner-occupiers or
landlords.
a
С U.S. net exports (NX) do NOT include
Warren Buffett, a U.S. citizen and resident, buying
Balmoral Castle in Scotland from the Queen in a
private sale without going through a realtor.
D The change in inventories is the one
category of gross investment spending that can be
negative.
K
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Question 37
1 pts
Fall 2021
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37. Which statement(s) below is (are) TRUE?
(Choose one or more.)
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A GDP exhibits regular seasonal fluctuations
for which statisticians make adjustments.
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B Your tuition payments count as
investment (I).
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С The construction of a new student union
at De Anza College would count as government
spending (G).
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D Your holiday in Mexico counts as a
deduction when calculating net exports (NX).
E Median household income is lower than
average household income.
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A
?
o
B
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ОС
D
a
U
E
Question 38
1 pts
38. If government statisticians ignore
improvements in the quality of consumer goods,
would the consumer price
index overestimate or underestimate the rate of
increase in consumer prices?
A It would overestimate the rate of increase
in consumer prices.
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Question 39
1 pts
Fall 2021
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39. Which statement(s) below is (are) TRUE?
(Choose one or more.)
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A Consumption (C) includes an estimate of
the imputed rental value of all owner-occupied
homes irrespective of when they were built.
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Modules
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Courses
B Investment (1) includes an estimate of the
value of all new homes built irrespective of
whether they are bought by owner-occupiers or
landlords.
Zoom
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Inbox
с U.S. net exports (NX) do NOT include
Warren Buffett, a U.S. citizen and resident, buying
Balmoral Castle in Scotland from the Queen in a
private sale without going through a realtor.
History
D The change in inventories is the one
category of gross investment spending that can be
negative.
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Ос
B
ОА
Question 40
1 pts
Questions 40-42 test your understanding of
different sorts of economic growth.
40. Rising gross domestic product (GDP) per
person is known as
A
extensive growth
K
B
intensive growth
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1 pts
Fall 2021
Question 40
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Questions 40-42 test your understanding of
different sorts of economic growth.
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40. Rising gross domestic product (GDP) per
person is known as
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A
extensive growth
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B
intensive growth
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B
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Question 41
1 pts
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41. The Wealth of Nations (1776) includes a
detailed description of a pin factory that
exemplified a high degree of specialization and
division of labor and which was made possible by
the more extensive use of money and markets.
These phenomena are characteristic of
A
Smithian growth
B
Promethean growth
B
ОА
Question 42
1 pts
K
42. Capital accumulation accompanied by
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Question 43
1 pts
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Questions 43-53 test your understanding of the
causes and consequences of economic growth.
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43. Population growth might cause real GDP per
person to fall
cause
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A
existing capital stock is spread more thinly
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B competition for resources stimulates
innovation
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с innovation by one person builds on the
ideas of others
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D a larger market permits greater
specialization and division of labor
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E
greater specialization and division of labor
fosters innovation
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B
?
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C
OE
ОА
Question 44
1 pts
44. Which one of these policies is LEAST likely to
promote economic growth in the long term?
A
Measures to encourage consumption
B Tax relief for investment in new plants and
equipment
K
С
Encouraging widespread respect for
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Question 44
1 pts
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44. Which one of these policies is LEAST likely to
promote economic growth in the long term?
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A
Measures to encourage consumption
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B Tax relief for investment in new plants and
equipment
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С Encouraging widespread respect for
property rights
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D Enforcing contracts through an efficient
court system
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E
Maintaining political stability
U
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B
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O
E
?
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A
Question 45
1 pts
45. Poorer countries often grow more rapidly
than richer countries. Which statement below is
NOT a plausible explanation of this phenomenon?
A Developing countries can take advantage
of existing technology.
B Capital is subject to diminishing returns,
meaning that additional units of capital yield less
and less additional output.
K
С People in high-income countries choose
to work fewer hours and enjoy more leisure than
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Question 48
1 pts
Fall 2021
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48. Catch-up or convergence means that rich
countries grow
A faster than poor countries
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B
slower than poor countries
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NetTutor
A
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B
Calendar
C
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Question 49
1 pts
History
49. For the past forty years,
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A North Korea has been a growth miracle,
and South Korea has been a growth disaster.
?
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B South Korea has been a growth miracle,
and North Korea has been a growth disaster.
A
B
Question 50
1 pts
50. Differences in technological knowledge
probably explain
A a large fraction of the differences in the
wealth of nations at any point in time.
I
B a small fraction of the differences in the
wealth of nations at any point in time.
11:44 AM Sat Oct 30
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Fall 2021
Question 45
1 pts
Home
Assignments
Account
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45. Poorer countries often grow more rapidly
than richer countries. Which statement below is
NOT a plausible explanation of this phenomenon?
Files
Dashboard
Modules
A Developing countries can take advantage
of existing technology.
NetTutor
Courses
Zoom
B. Capital is subject to diminishing returns,
meaning that additional units of capital yield less
and less additional output.
Calendar
E
Inbox
С People in high-income countries choose
to work fewer hours and enjoy more leisure than
people in low-income countries.
History
D High-income countries have more stable
political systems than low-income countries.
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OA
(?
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B
ОС
Question 46
1 pts
46. Real GDP per capita and infant mortality rates
are
A
negatively correlated
B
positively correlated
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Question 46
1 pts
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46. Real GDP per capita and infant mortality rates
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are
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A
negatively correlated
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B
positively correlated
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A
Calendar
B
C
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Question 47
1 pts
History
606
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47. Real GDP per capita and life expectancy rates
are
?
Help
A
negatively correlated
B
positively correlated
B
ОА
Question 48
1 pts
48. Catch-up or convergence means that rich
countries grow
A faster than poor countries
B
slower than poor countries
I
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Question 50
1 pts
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50. Differences in technological knowledge
probably explain
Account
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Files
A a large fraction of the differences in the
wealth of nations at any point in time.
Dashboard
Modules
B a small fraction of the differences in the
wealth of nations at any point in time.
NetTutor
Courses
Zoom
B
Calendar
ОА
Inbox
History
Question 51
1 pts
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?
51. Increases in technological knowledge
probably explain
Help
A a large part of why economic growth
occurs over time.
B a small part of why economic growth
occurs over time.
A
B
Question 52
1 pts
a
52. Taiwan has a much higher GDP per capita
than the Democratic Republic of the Congo
because it has institutions that make it in people's
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Question 51
1 pts
Fall 2021
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51. Increases in technological knowledge
probably explain
Account
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A a large part of why economic growth
occurs over time.
Dashboard
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B a small part of why economic growth
occurs over time.
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Courses
Zoom
A
Calendar
B
C
Inbox
History
Question 52
1 pts
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?
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52. Taiwan has a much higher GDP per capita
than the Democratic Republic of the Congo
because it has institutions that make it in people's
self-interest to (choose one or both)
А. invest in physical capital, human capital,
and technological knowledge
B efficiently organize these resources for
production
ОА
B
Question 53
1 pts
I
Questions 53-58 test your understanding of the
economics of ideas and intellectual property.
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Question 53
1 pts
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Questions 53-58 test your understanding of the
economics of ideas and intellectual property.
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53. Did the invention of aspirin have an
opportunity cost?
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A Yes, because the time and resources spent
inventing it could have been devoted to some
other goal.
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B No, because two or more people could
have invented it at the same time.
C
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B
ОА
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?
Question 54
1 pts
Help
54. Does the manufacture of aspirin today have
an opportunity cost?
A
Yes, because its manufacture uses scarce
resources.
B No, because two or more people could
manufacture it at the same time.
B
OA
Question 55
1 pts
I
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Fall 2021
Question 53
1 pts
Home
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Questions 53-58 test your understanding of the
economics of ideas and intellectual property.
Account
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Files
53. Did the invention of aspirin have an
opportunity cost?
Dashboard
Modules
NetTutor
A Yes, because the time and resources spent
inventing it could have been devoted to some
other goal.
Courses
Zoom
Calendar
B No, because two or more people could
have invented it at the same time.
C
Inbox
B
ОА
History
606
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?
Question 54
1 pts
Help
54. Does the manufacture of aspirin today have
an opportunity cost?
A
Yes, because its manufacture uses scarce
resources.
B No, because two or more people could
manufacture it at the same time.
B
OA
Question 55
1 pts
I
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Question 55
1 pts
Fall 2021
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55. When patents expire, and the patented
technology becomes freely available, would
machines using that technology ever be made
again?
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Dashboard
A
Yes, they would continue to be made.
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B
No, there would be no incentive to make
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them.
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B
A
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Question 56
1 pts
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56. Inventors have been rewarded in many
different ways, but which way has always required
government intervention?
A
charging patent royalties to licensees
B earning payments from lectures, media
appearances, performances, and sponsorship
С exploiting the “first-mover” advantage in
selling their inventions before anyone else
D receiving prizes and pensions in
recognition of their achievements
B
A
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Question 57
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57. Which intellectual property right lasts
indefinitely if you continue to use and enforce it?
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A
a copyright
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B
a patent
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С
a trademark
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B
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A
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Question 58
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58. Ideas are themselves nonrival and
nonexcludable. Intellectual property (IP) like
patents and copyright excludes non-payers from
using ideas. Economists would say that IP turns
A
club goods into public goods
B
public goods into club goods
B
ОА
Question 59
1 pts
K
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Question 59
1 pts
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Questions 59-68 test your understanding of
saving, investment, and the financial system.
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59. Can a private household consume more than
its income ing a ar?
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A
Yes
B No
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B
Calendar
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Question 60
1 pts
History
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60. Can a private firm invest more than its
income during a year?
?
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A
Yes
В
No
ОА
B
Question 61
1 pts
61. Can the U.S. government consume and invest
more than its income during a year?
A
Yes
B
No
B
K
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