Question :
11) Labor productivity growth depends on
i.saving and investment.
ii.increases in human : 1228335
11) Labor productivity growth depends on
i.saving and investment.
ii.increases in human capital.
iii.technological growth.
A) i only
B) ii only
C) iii only
D) Both ii and iii
E) i, ii, and iii
12) Labor force productivity has increased from $30 per hour to $32 per hour over the past year. This could result from
A) only an increase in real GDP.
B) an increase in real GDP with no change in the aggregate hours or an decrease in aggregate hours with no change in real GDP.
C) only a decrease in aggregate hours.
D) an increase in the labor force participation rate.
E) an increase in population.
13) In recent years, Taiwan has experienced increases in savings and investment. As a result of the higher investment and saving, we expect
i)increases in physical capital.
ii)increases in the inflation rate.
iii)advances in technology.
A) i and iii
B) i and ii
C) ii only
D) ii and iii
E) i, ii and iii
14) If the stock of physical capital (that is machinery, equipment, etc.) and human capital remain the same and the population increases, then
A) labor productivity will increase.
B) labor productivity will decrease.
C) the standard of living will increase.
D) the new labor will be more productive.
E) real GDP decreases.
15) The widespread adoption of computers in the workplace has likely lead to
A) no change in the quantity of labor hours.
B) an increase in labor productivity because computers are a capital good.
C) a decrease in labor productivity because computers are a capital good.
D) a decrease in human capital because computers are physical capital.
E) an increase in the supply of labor because people are needed to operate the computers.
16) Which of the following are required for economic growth?
i)more goods and services produced per hour of work
ii)an increase in the average hours of labor per person
iii)an increase in prices
A) i and iii
B) i and ii
C) ii and iii
D) i only
E) ii only
17) A reason for an increase in labor productivity growth is
A) an increase in people’s human capital.
B) a decrease in the capital stock so that firms must hire more workers.
C) growth in the supply of labor.
D) an increase in the population so that firms hire more workers.
E) an increase in the quantity of labor.
18) Human capital refers to the
A) accumulated skill and knowledge of human beings.
B) accumulated equipment used by human beings.
C) accumulation of money by human beings.
D) accumulation of money and equipment used by human beings.
E) accumulated financial capital people have acquired.
19) Human capital is defined as the
A) amount of machinery human beings have.
B) number of factories built for human beings.
C) accumulated skill and knowledge of human beings.
D) accumulated amount of machinery and factories human beings own.
E) skills that people are born with.
20) Increases in human capital can come
A) only from formal schooling.
B) from employing more machinery.
C) only from on-the-job experience.
D) from formal education and on-the-job learning.
E) from nowhere because whatever human capital an individual possesses is what he or she was born with.
