121.Amydiscoversawaytoproducewaterheaterssotheyarelessexpensiveanduselessnaturalgas.Amy’sdiscoveryis a.physicalcapital.IfAmy’sdiscoveryleadstolowernaturalgasprices,ithasmadenaturalgaslessscarce. b.physicalcapital.IfAmy’sdiscoveryleadstolowernaturalgasprices,ithasmadenaturalgasscarcer. c.technologicalknowledge.IfAmy’sdiscoveryleadstolowernaturalgasprices,ithasmadenaturalgaslessscarce. d.technologicalknowledge.IfAmy’sdiscoveryleadstolowernaturalgasprices,ithasmadenaturalgasscarcer. 122.Whichofthefollowingstatementsaboutinputsiscorrect? a.Aforestisanexampleofanaturalresource;itisalsoanexampleofarenewableresource. b.Thereisnodistinctionbetweenhumancapitalandtechnologicalknowledge. c.Humancapitalisanon-producedfactorofproduction. d.Physicalcapitalisanon-producedfactorofproduction. 123.Whichofthefollowingstatementsistrue? a.Naturalresourcesperworkerinfluenceproductivityonlywhenthosenaturalresourcesarerenewable. b.Thepricesofmostnaturalresourcesarestableorfallingrelativetootherprices. c.Technologyrequiresgreateruseofnaturalresources. d.Thetermshumancapitalandtechnologicalknowledgeareusedinterchangeably. 124.Whichofthefollowingstatementsistrue? a.Thequantityofnaturalresourcesperworkercaninfluenceproductivity. b.Technologicalknowledgeandhumancapitalarecloselyrelated. c.Overlongperiodsoftime,thepricesofmostnaturalresourcesarestableorfalling,relativetootherprices. d.Alloftheabovearecorrect. 125.Whichofthefollowinglistscontains,inthisorder,naturalresources,humancapital,andphysicalcapital? a.Forarestaurant:thelandtherestaurantwasbuilton,themoneyitborrowedtobuysupplies,thefreezerswherethechopsandsteaksarekept. b.Forafurniturecompany:wood,theskillsandknowledgeofitsworkers,saws. c.Forarailroad:fuel,railroadengines,railroadtracks. d.Noneoftheaboveiscorrect. 126.Whichofthefollowinglistscontains,inthisorder,naturalresources,physicalcapital,andhumancapital? a.Forashoefactory:leather,handtools,themanagers’knowledgeofshoemaking. b.Forasteelmill:theblastfurnaces,ironore,theworkers. c.Foranairline:oilusedtomakejetfuel,thepilots’knowledgeofflying,jets. d.Noneoftheaboveiscorrect. 127.Otherthingsthesame,whichofthefollowingwouldincreaseproductivity? a.anincreaseineitherhumanorphysicalcapital b.anincreaseinhumancapitalbutnotanincreaseinphysicalcapital c.anincreaseinphysicalcapitalbutnotanincreaseinhumancapital d.neitheranincreaseinhumancapitalnoranincreaseinphysicalcapital 128.Whichofthefollowingwouldincreaseproductivity? a.anincreaseinthephysicalcapitalstockperworker b.anincreaseinhumancapitalperworker c.anincreaseinnaturalresourcesperworker d.Alloftheabovearecorrect. 129.Whichofthefollowingisadeterminantofproductivity? a.humancapitalperworker b.physicalcapitalperworker c.naturalresourcesperworker d.Alloftheabovearecorrect. 130.Whichofthefollowingisadeterminantofproductivity? a.humancapitalperworker b.physicalcapitalperworker c.naturalresourcesperworker d.Alloftheabovearecorrect.