Macroeconomics Theory Final Q1
Macroeconomics Theory Final Q1
Macroeconomics Theory Final Q1
Michelle M. Esperal
Final Quiz 1
Completed on Tuesday, 8 August 2023, 3:44 PM
Grade 10.00 out of 10.00 (100%)
Question 1
Question text
Aggregate real GDP is of limited use because it does reveal whether the residents of a given
country are better or worse off.
Question 2
Question text
Production is a function of the economy's use of capital, K, labor, L, and a multifactor
productivity index, A.
a.
None of the above
b.
Y
c.
Y
d.
Y
e.
A * f(K, L )
f.
A+f+K+L
g.
A+f/K+L
Question 3
Question text
Investment is equal to the change in the capital stock plus depreciation.
Question 4
Question text
____________ is a condition of constant rates of growth in economic measures. With no
technological change and is represented by identical constant growth rates in the labor
force, total output, and the level of capital.
a.
Steady State
b.
None of the choices
c.
Elasticity
d.
Growth
Question 5
Question text
Condition that savings is equal to investment
a.
Steady State
b.
Real GDP
c.
Total Real Output
d.
None of the choices
Question 6
Question text
____________ is the change in the quantity of total output resulting from a unit change in a
variable input, keeping all other inputs unchanged.
a.
Marginal Product
b.
None of the choices
c.
Growth accounting
d.
Technological
Question 7
Question text
The best available economic measure of quantity is ____________.
a.
Real GDP
b.
Total Output
c.
Total Population
d.
Total GDP
Question 8
Question text
Production is a function of the economy's use of capital, K, labor, L, and a productivity index,
A.
a.
Growth accounting equation
b.
None of the choices
c.
Constant returns and elasticities equation
d.
Elasticity and Income share equation
Question 9
Question text
Contribution of increase in labor to the growth in output is the most important.
Question 10
Question text
Floating means that exchange rate is steady or constant in day to day basis according to the
market.