_________ is output per hour in the business sector. Question options: a) GDP per capita b) Investment c) Productivity d) Net exports ____________ is a term which refers to the widespread use of power-driven machinery and the economic and social changes that resulted in thefirst half of the 1800s. Question options: a) Industrial Revolution b) Capital deepening c) Living standard d)Technology

Answer the following options:  (Q#7)  What is the connection between education and the economic standard of             living for any country?     (a)  They are closely related. Education (and job training) enhance labor product-           ivity, which also raises national production at the collective level.    (b) They are largely unrelated. Education serves a goal of personal improvement           and allows one person to out-compete others for the best jobs.   Q#8) Until recently, the economy in China has grown steadily due to the deliberate           emphasis on low skill – low wage factory labor methods.  However, China’s           economic standard of living is still comparatively low.  To achieve a U.S. or            German standard of living what should be done?            a) China should continue to stress low skill labor intensive methods of productionthat will fully employ its large labor force             b) China should shift to more advanced and capital intensive methods…

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In Third World agriculture, Productivity is low because of ________. a. lack of complementary resources b. insufficient capital investment c. inadequate pricing policies d. rapid growth of the labor force e. none of the above f. all of the above