Podcast
Questions and Answers
What is the main factor that contributes to average labor productivity according to the text?
What is the main factor that contributes to average labor productivity according to the text?
- Technology
- Land and natural resources
- Human capital (correct)
- Physical capital
Which country used human capital effectively for economic growth, as mentioned in the text?
Which country used human capital effectively for economic growth, as mentioned in the text?
- Bangladesh
- Switzerland
- Germany (correct)
- Indonesia
What is the most important source of productivity improvement according to the text?
What is the most important source of productivity improvement according to the text?
- Physical capital
- Technology (correct)
- Land and natural resources
- Entrepreneurship
Which factor can lead to diminishing returns to capital according to the text?
Which factor can lead to diminishing returns to capital according to the text?
What contributes to increasing worker productivity besides human capital?
What contributes to increasing worker productivity besides human capital?
Which factor is essential for a dynamic and growing economy according to the text?
Which factor is essential for a dynamic and growing economy according to the text?
What is crucial for promoting a free and open exchange of ideas according to the text?
What is crucial for promoting a free and open exchange of ideas according to the text?
What can encourage new capital formation and saving in the private sector according to the text?
What can encourage new capital formation and saving in the private sector according to the text?
Which of the following is not one of the six factors that determine average labor productivity?
Which of the following is not one of the six factors that determine average labor productivity?
The text states that Japan and Germany were able to achieve economic growth by emphasizing which aspect of human capital?
The text states that Japan and Germany were able to achieve economic growth by emphasizing which aspect of human capital?
Which of the following is a potential cost or downside of economic growth?
Which of the following is a potential cost or downside of economic growth?
The text mentions that some types of research, such as basic science, create externalities that a private firm cannot capture. What does the text suggest the government should do in response to this?
The text mentions that some types of research, such as basic science, create externalities that a private firm cannot capture. What does the text suggest the government should do in response to this?
What is one way the government can encourage new capital formation and saving in the private sector?
What is one way the government can encourage new capital formation and saving in the private sector?
The text suggests that the "opportunity cost" of increasing the capital stock is what?
The text suggests that the "opportunity cost" of increasing the capital stock is what?
Which of the following is not mentioned as a way that the government can promote economic growth in least developed countries?
Which of the following is not mentioned as a way that the government can promote economic growth in least developed countries?
The text states that the "single most important source of productivity improvement" is what?
The text states that the "single most important source of productivity improvement" is what?
What is one way the government can promote sustainable economic growth in the face of environmental challenges?
What is one way the government can promote sustainable economic growth in the face of environmental challenges?
The text mentions that Japan, Hong Kong, Singapore, and Switzerland have high levels of GDP per capita despite having a "limited resource base." What does this suggest about the importance of natural resources in determining economic productivity?
The text mentions that Japan, Hong Kong, Singapore, and Switzerland have high levels of GDP per capita despite having a "limited resource base." What does this suggest about the importance of natural resources in determining economic productivity?
