Question

10. Which of the following would by itself. reveal the most about a. Its level of capital. b. The number of hours worked. c. Its availability of natural resources. d. Its productivity. the most about a country's standard of living? 11. Which of the following is correct? Although levels of real GDP per person vary substantially from country to country the growth rate of real GDP per person is similar across countries. b. Productivity is not closely linked to government policies C. The level of real GDP per person is a good gauge of economic prosperity, and the growth rate of real GDP per person is a good gauge of economic progress d. Productivity may be measured by the growth rate of real GDP per person. 12. 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 13. 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. 14. Refer to the above Figure. The curve becomes flatter as the amount of capital per que increases because of increasing returns to capital. b. increasing returns to labor. c. diminishing returns to capital. d. diminishing returns to labor.

Answer 1

I will answer only the first question as per HOMEWORKLIB RULES. Kindly accept HOMEWORKLIB RULES.

10) d) Its productivity.

The level of production is the most important determinant of a country's standard of living.Faster productivity growth leads to an increasing standard of living. The average annual growth in the income of a typical American family after making adjustment for inflation, is a key indicator for measuring living standards.