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52. Which of the following statements best illastrates economic growh? a. An increase in the quantity of abour always leads to cconomic growth. b. Increased education adds to the stock of human capital, NOT unlike building factories, which adds to the stock of physical capital c. A decrease in the peoductivity of labour leads to economic growth d. An increase in the minimam wage will always lead to economic growth 53. Which of the following factors contributes to economic growth? a. an increase in the miณmum wage b. a decrease in the productivity of labour while holding the productiviay of capital fixed c. the discovery of new oil reserves i quantity of abour due to 54. Which of the following correlates with a faster rate of technological progress? a. a slower rate of growth of the money supply b. a greater rate of economic growth c. a slower rate of economic growth d. a greater rate of popualation growth 55. What will better technology enable producers to do? a. cconomize on the use of resources b. reallocate resources toward the production of capital c. increase wages for low skilled workers d. rely less on entrepreneurs 57. Will increased investment alone guaranice econoemic growth? a. No, because economic growth hinges on the ญuality and type of investment, human capital, and improvements in technology b. No, because an economy must rdly on capital injactions from abroad c. Yes, because moncy is the only resource neoded for growth d. Yes, bcause growth occurs only with savings 58. Is it possible to have economic growth with NO opportunity cost? a. No, because growth dapletes the stock of knowledge so that more growth today means less growth tomorrow b. No, but economic growth is always worth whatever sacrifice is required. c. No, because growth requires the sacrifice of consampion goods in order to invest in capital formation and research and development d. Yes, economic growth requires NO current sacrifices, only the passage of time 59. Which of the following is lkely to occur as a result of falling incomes? a. reduced savings and, as a result, a reduction in capital formation b. a decrease in spending on consumption but increased spending on research and development c. a decrease in the availability of labour inputs for production d. increased savings and, as a result an increase in capital formation