ECO 405 Quiz 1
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www.foxtutor.com/product/eco-405-quiz-1
• Question 1
4 out of 4 points
Given the amounts of resources available for an economy, GDP
Answer
• Question 2
4 out of 4 points
A three-year-old learns about the fundamental economic problem when she
Answer
• Question 3
4 out of 4 points
Which of the follow best describes human wants and desires? They
Answer
• Question 4
4 out of 4 points
Which of the following is the primary goal of an economy?
Answer
• Question 5
4 out of 4 points
Real per capita GDP is defined as
Answer
• Question 6
4 out of 4 points
The fundamental economic problem involves
Answer
• Question 7
4 out of 4 points
When comparing the performance of economies in terms of the average well-being of their inhabitants, which measure is most appropriate?
Answer
• Question 8
4 out of 4 points
The fundamental economic problem is
Answer
• Question 9
4 out of 4 points
A production possibilities curve represents all of an economy's combinations for production that are
Answer
• Question 10
4 out of 4 points
The means for satisfying wants are
Answer
• Question 11
4 out of 4 points
If education and food are the two goods that society can produce, an increase in the production technology for food will result in
Answer
• Question 12
4 out of 4 points
If an economy is experiencing unemployment, it is operating at a point
Answer
• Question 13
4 out of 4 points
If a country's GDP increases from $1m to $2m at the same time prices increase by half (50%), real GDP will
Answer
• Question 14
4 out of 4 points
To correct for inflation, GDP numbers must be converted using the price level in a given year known as the
Answer
• Question 15
4 out of 4 points
The quality of the labor force is often measured by
Answer
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Content
ECO 405 Quiz 1
Click Below Link To Purchase
www.foxtutor.com/product/eco-405-quiz-1
• Question 1
4 out of 4 points
Given the amounts of resources available for an economy, GDP
Answer
• Question 2
4 out of 4 points
A three-year-old learns about the fundamental economic problem when she
Answer
• Question 3
4 out of 4 points
Which of the follow best describes human wants and desires? They
Answer
• Question 4
4 out of 4 points
Which of the following is the primary goal of an economy?
Answer
• Question 5
4 out of 4 points
Real per capita GDP is defined as
Answer
• Question 6
4 out of 4 points
The fundamental economic problem involves
Answer
• Question 7
4 out of 4 points
When comparing the performance of economies in terms of the average well-being of their inhabitants, which measure is most appropriate?
Answer
• Question 8
4 out of 4 points
The fundamental economic problem is
Answer
• Question 9
4 out of 4 points
A production possibilities curve represents all of an economy's combinations for production that are
Answer
• Question 10
4 out of 4 points
The means for satisfying wants are
Answer
• Question 11
4 out of 4 points
If education and food are the two goods that society can produce, an increase in the production technology for food will result in
Answer
• Question 12
4 out of 4 points
If an economy is experiencing unemployment, it is operating at a point
Answer
• Question 13
4 out of 4 points
If a country's GDP increases from $1m to $2m at the same time prices increase by half (50%), real GDP will
Answer
• Question 14
4 out of 4 points
To correct for inflation, GDP numbers must be converted using the price level in a given year known as the
Answer
• Question 15
4 out of 4 points
The quality of the labor force is often measured by
Answer