A. labor
B. physical capital/worker
C. human capital/worker
D. natural resources/worker
A. it no longer needs any human capital
B. capital becomes more productive due to the “catch-up- effect”
C. none of these answers
D. it may be harder for it to grow quickly because of the diminishing returns to capital
A. They save and invest an unusually high percentage of their GDP
B. They have always been wealthy and will continue to be wealthy, which is known as the “snowball effect”
C. They are imperialists and have collected wealth from previous victories in war
D. They have enormous natural resources.
A. encourage foreigners to investment in your country
B. encourage saving and investment
C. nationalize major industries
D. encourage research and development
E. Promote free trade
A. Megabank buys a new computer
B. Naila pays her university tuition fees.
C. OGDC leases a new oil field
D. Indus Motors buys a new drill press
A. None of these answers
B. There has been an increase in foreign portfolio investment in the UK
C. Once the plant starts producing cars UK GDP will rise less than UK GNP
D. once the plant starts producing cars UK GDP will rise more than UK GNP
A. Toyota builds a new plant in the north of England
B. EDF of France buys s in Scottish & Southern Energy of the UK, and Scottish & Southern Energy uses the Proceeds to build a new hydro-electric power station in Scotland
C. Deutsche Bank of Germany buys some new software from UK Supplier
D. JCB builds a new plant near Manchester
A. A farmer sends his child to agricultural college and the child returns to work on the farm
B. A farmer hires another day laborer
C. A farmer buys another tractor
D. A farmer discovers that it is better to plant in the spring rather than in the fall
A. none of these answers
B. an ever-increasing population is constrained only by the food supply resulting in chronic faminies
C. technological progress will continuously generate improvement in productivity and living standards.
D. labor is the only true factor of production
A. a renewable natural resource
B. physical capital
C. technology
D. a non-renewable natural resource