Question

01 1. Which of the following can be measured by the level of real GDP per person? a. Productivity and the standard of living. b. Productivity but not the standard of living. c. The standard of living but not productivity. d. Neither the standard of living nor productivity. 2. Human capital is the a. knowledge and skills that workers acquire through education, training, and experience. b. stock of equipment and structures that is used to produce goods and services. c. total number of hours worked in an economy. d. same thing as technological knowledge. 3. Which of the following items plays a role in determining productivity? a. physical capital. b. natural resources. c. technological knowledge. d. All of the above are correct. 4. The primary economic function of the financial system is to a. keep interest rates low. b. provide expert advice to savers and investors. c. match one person's consumption expenditures with another person's capital expenditures. d. match one person's saving with another person's investment. 5. A mutual fund a. is a financial institution that stands between savers and borrowers. b. is a financial intermediary. c. allows people with small amounts of money to diversify their holdings. d. All of the above are correct.

Answer 1

Answer 1. C. The standard of living but not productivity

Reason- Real GDP per person helps us compare the condition of average person or standard of living in various countries but productivity depends on Resource , technology etc.

Answer 2. A. Knowledge and skills that workers acquire through education training and experience .

Reason- Human capital is the ability of the humans that is measured by knowledge and skills.

Answer 3 d. All of the above are correct

Reason- productivity depends on factors of production which includes technology, capital, resources etc.

Answer 4. D. Match or persons savings with another person's investment

Reason- financial markets help investors earn from their savings and borrower to borrow money for their business.

Answer 5. All of the above are correct.

Reason- Mutual funds are diversified financial intermediary which means they are between savers and borrowers.

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