Macroeconomics 9th Edition Test Bank

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1Copyright© 2017 Pearson Education, Inc.Macroeconomics, 9e(Abel/Bernanke/Croushore)Chapter 1Introduction to Macroeconomics1.1What Macroeconomics Is About1) The two major reasons for the tremendous growth in output in the U.S. economy over the last125 years areA) population growth and low inflation.B) population growth and increased productivity.C) low unemployment and low inflation.D) low inflation and low trade deficits.Answer: BDiff: 1Topic: Section: 1.1Question Status: Previous Edition2) The main reason that the United States has such a high standard of living isA) low unemployment.B) high average labor productivity.C) low inflation.D) high government budget deficits.Answer: BDiff: 1Topic: Section: 1.1Question Status: Previous Edition3) Which of the following factors are most important fordetermining the economic growth of acountry?A) The country's level of resourcesB) The independence of the country's central bankC) The country's rates of saving and investmentD) The level of sophistication of a country's financial marketsAnswer: CDiff: 1Topic: Section: 1.1Question Status: New4) Average labor productivity is theA) amount of workers per machine.B) amount of machines per worker.C) ratio of employed to unemployed workers.D) amount of output per worker.Answer: DDiff: 1Topic: Section: 1.1Question Status: Previous Edition

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Economics

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Macroeconomics by Andrew B. Abel, B...

Macroeconomics 9th Edition Test Bank

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