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Past Exam for ECO 202 - PRINCIPLES OF ECO II with Gulla at Kentucky (UK)

Exam Information

Material Type:Exam 2
Professor:Gulla
Class:ECO 202 - PRINCIPLES OF ECO II
Subject:Economics
University:University of Kentucky
Term:Fall 2009
Keywords:
  • Budget Surplus
  • Equity Finance
  • Debt Finance
  • The Economy
  • Private Saving
  • Increase Output
  • Living Will
  • Reserve Ratio
  • Public Saving
  • Excess Supply
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Sample Document Text

ECO 202 Test II Makeup Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 1. The one variable that stands out as the most significant explanation of large variations in living standards around the world is a. productivity. b. population. c. preferences. d. prices. 2. In 2007, Modern Electronics, Inc. produced 60,000 calculators, employing 80 workers, each of whom worked 8 hours per day. In 2008, the same firm produced 76,500 calculators, employing 85 workers, each of whom worked 10 hours per day. Between 2007 and 2008, productivity at Modern Electronics a. decreased by 4.00 percent. b. remained constant. c. increased by 8.33 percent. d. increased by 27.50 percent. 3. Productivity is the a. key determinant of living standards, and growth in productivity is the key determinant of growth in living standards. b. key determinant of living standards, but growth in productivity is not the key determinant of growth in living standards. c. not the key determinant of liv...

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