A country’s economic growth is determined by its level of productivity, which in turn is determined by its ______.
a. standard of living, natural resources, technology, and human capital
b. technology, natural resources, human capital, and physical capital
c. population size, infrastructure, physical capital, and natural resources
d. age, population size, natural resources, and infrastructure
b. technology, natural resources, human capital, and physical capital
You might also like to view...
What is the Effective Tax Rate?
What will be an ideal response?
When the interest rate on newly issued bonds increases, the price of existing bonds:
A. decreases. B. may either increase or decrease. C. increases. D. increases only if the coupon rate is below the new rate.
John is going to spend all of his income. For the last unit of Good X consumed John gets 20 utils and for the last unit of Good Y consumed he gets 10 utils. The price of Good X is $1. The price of Good Y is $10. If John wants to maximize his utility he
should A) continue to purchase the same amount of Good X and Good Y. B) increase the consumption of Good X and decrease the consumption of Good Y. C) decrease the consumption of Good X and increase the consumption of Good Y. D) decrease the consumption of Good X and decrease the consumption of Good Y.
Those that gain from an increase in the minimum wage are
A. those workers who keep their jobs. B. all workers. C. consumers who pay lower prices for goods. D. employers.