Download Question 2 - GHEconomics

*
* If an economy experiences an improvement in
technology and the discovery of new resources,
which of the following can we be sure has occurred?
a)
b)
c)
d)
Increased net social welfare
Increased productive capacity
Increased productive capacity and increased real
income
Increased real income
*
* Goods used to satisfy needs and wants are:
a)
b)
c)
d)
consumer goods
luxury goods
capital goods
free goods
*
* Which diagram best illustrates an increase in
production?
a)
b)
c)
d)
D
B
C
A
*
Infant mortality rates, literacy and numeracy
data is most likely to be associated with which
measure of economic growth?
a)
b)
c)
d)
Real GDP per capita
Productive capacity
Real output GDP
Net social welfare
*
* If a country moves to a point closer on its
production possibility frontier, which of the
following statements is correct?
* All the above statements are correct
* The economy is moving towards its current
productive capacity
* Real output has increased
* Production has increased
*
* Which items would be used to calculate total
spending in the economy? (i) savings (ii)
consumption (iii) investment spending (iv)
government spending (v) net exports
a)
b)
c)
d)
(i), (ii) and (iii)
(ii), (iii), (iv) and (v)
(iii), (iv) and (v)
(ii), (iii) and (iv)
*
* A fall in real GDP means that:
a)
b)
c)
d)
production has fallen
production remains unchanged
production might rise or fall
production has risen
*
Which diagram shows an increase in production
rather than an increase in productive capacity?
a)
b)
c)
d)
C
D
B
A
*
* Infant mortality rates, literacy and numeracy data
is most likely to be associated with which measure
of economic growth?
a)
b)
c)
d)
Net social welfare
Real output GDP
Productive capacity
Real GDP per capita
*
* Which measure of economic growth is related to the
economy's stock of capital, natural resources and
the skill and size of its labour force?
a)
b)
c)
d)
Net social welfare
Productive capacity
Real output GDP
Real income
*