St. Philips College

ECON 101

Chapter 2

1)Productivity is a measure of:

2. Government intervention to reduce the level of pollution is prompted by the existence of:

3. Exports of goods and services from the United States account for about:

4. The term externalities refers to:

5. According to economists, investment includes:

6. Gross domestic product includes all of the following except:

7. If output growth exceeds population growth for a country then:
8. Comparative advantage refers to the ability to produce a good at a:

9. The GDP is:

10. The result of government intervention in the market, is that:

11. Greater productivity refers to:

12. If all nations specialize in their area of comparative advantage and then trade, total world output will:

13. Factor mobility refers to:

14. A monopoly exists when:

15. One factor that has allowed the U.S. economy to change the mix of output in response to consumer demand is the:

16. Productivity:

17. The per capita GDP is:

18. In the absence of government intervention:

19. Exports refers to the goods:
20. In order to attain higher living standards in the long run: