04 Jun Question Part 1 of 1 – Question 1 of 16 2.0 Points
Question
Part 1 of 1 –
Question 1 of 16
2.0 Points
The Rybczynski theorem states that, given a two-good world and constant prices, growth in one of a country’s inputs to production will lead to an increase in production in both the good that uses that input more intensively in production and the good that uses that input less intensively in production.
True
False
Question 2 of 16
2.0 Points
Increases in the endowments of the factors of production will increase current output, but will not contribute to long-run economic growth.
True
False
Question 3 of 16
2.0 Points
The Dutch Disease was an infectious disease that spread from the Netherlands to Britain, Norway and Australia and caused the depopulation of these countries.
True
False
Part 1 of 1 –
Question 4 of 16
3.0 Points
http://csc.rsmart.com/access/content/group/9f7c512e-7877-428d-b305-1e94d3dfe0c8/Graphs/fig7.1.png
Referring to Figure, the outward shift of the production possibilities frontier is likely the result of:
A. A fall in production costs.
B. The move from autarky to free trade.
C. An increase in the labor force.
D. An increase in arable land.
Question 5 of 16
3.0 Points
Which of the following statements is true?
I. Increases in a country’s endowments of land, labor, and capital will lead to long-run economic growth.
II. Improvements in the technology used in production can lead to increases in output, but cannot lead to long-run economic growth.
III. Improvements in technology and increases in the endowments of productive inputs can both cause the production-possibility curve to shift outward.
A. I and II
B. I and III
C. I, II and III
D. None of the above
Question 6 of 16
3.0 Points
The Rybczynski theorem asserts that in a two-good world, and assuming that product prices stay constant, growth in the endowment of one factor of production, with the other factor unchanged, will lead to:
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