In order to promote growth through increased quantities of physical capital, governments must promote:
A. a better educational system.
B. high rates of saving and investing.
C. job training programs.
D. funding for basic science.
Answer: B
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The slope of the utility possibilities frontier is
A) positive. B) negative. C) zero. D) undefined.
Technological progress occurs when the economy gets more output:
A. without any more capital or labor. B. by using more capital per worker. C. by using more capital but not more workers. D. by using more labor but not more capital.
Providing workers with on-the-job training will increase:
A. the unemployment rate. B. the share of the population employed. C. average labor productivity. D. the labor force participation rate.
In economics, physical capital includes
A) money. B) bank deposits. C) machinery. D) shares of company stock.