Votamatic: Surveys

In 2000, the number of unemployed individuals was 100, and the number of employed individuals was 900. In 2008, the number of unemployed individuals was 200 and the number of employed individuals was 1900. Which of the following is correct ?

Between 2000 and 2008 while the labor force increased, the unemployment rate fell.The labor force and the unemployment rate increased between 2000 and 2008.We do not know what happened with the unemployment rate because we have no information regarding the evolution of the labor force between 2000 and 2008.If the number of unemployed individuals doubled, the unemployment rate increased.

Nominal GDP is 45,000 in 2005 and 60,000 in 2006. Real GDP measured in 2004 dollars (i.e., base year is 2004) is equal to 30,000 in 2005, and 40,000 in 2006. What can we say with certainty?

Between 2005 and 2006 the increase in prices of domestically produced goods was above 10%.Between 2005 and 2006, there was deflation in the price of domestically produced goods.Between 2005 and 2006 there was no real growth.Between 2004 and 2005, inflation in the price of domestically produced goods was above 10%.

Two countries have the same production function and quantities of production factors, except for the stock of capital. What will be the effect on productivity of an additional unit of capital in the two countries?

It will be stronger in the country which is initially relatively poor in terms of capital stock.It will be stronger in the country which is initially relatively rich in terms of capital stock.It will be equal and positive in the two countries.It will have no impact.

Consider the following production function : Y = A· F(L,K,H,N) with A being technological knowledge, L labor, K physical capital, H human capital and N natural resource endowments. Let’s assume that the production function exhibits constant returns to scale, and declining marginal factor productivity. Which of the following is correct ?

If we double natural resource endowments, production will also double.If we double the number of workers and physical capital, production will also double.If we double the number of workers, labor productivity will increase.If we double the amount of human capital, labor productivity will increase.

Votamatic

Exam questions - Chapters 3 and 4