7:54 1 Blackboard ILTE Read Only You can't save changes to this file Save a copy 10:23 X HOMEWORK 3 Spring 2019.docx . Which of the following is a determinant of productivity? a human capital p worker b. physical capital per worker e. natural resources per worker d. All of the above are coerect. 2. The Palm Restaurant uses all of the following to produce vegetarian meals. Which of them is an example of physical capital? the owner's knowledge of how to prepare vepctarian entrees b. the moacy in the owners account at the bank from which she bomowod money s, the tables and chairs in the restaurant d. the land the restaurant was bailt ee 3. Which of the following is considered human capital? a. the comfontable chair in your dorm room whec you read oconomics tets b, the amount you get paid each wock to work at the library e. the things you have learned this semester d. any capital goods that require a human to be present to operate 4.Which of the following would be human capital and physical capital, respectively? . for an accounting firm, the accountants"know ledge of tax laws and the aumber of hours worked by those accountants b. for a grocery store, grocery carts and cash registers e. for a restaurant, the chefs'knowedge about preparing food and oquipment in the kitchen d. for a library, the building and the reference librarians' kowledge of the Internet 5. Which of the following lists contains, in this order natural resources, human capital, and physical capital? a For a restauranil: the land the restaurant was built on, the things the Chef learned at Cooking School, the freeeers where the chaps and steaks are kept. . For a furniture company: wood, the company cafeteria, saws c. For a railroad fuel, railroad engines, railroad tracks d. None of the above is coniect. Open With Print 10:23 X HOMEWORK 3 Spring 2019.docx 6. In a particular production process, if the quantities of all inputs used are increased by 60 percent, then the quantity of output increases by 60 percent as well. This means that the production peocess cannot be enhanced by technological advances b. no mathematical repecsentation of the relevant producticn function can be c. the relevant production function has the limits-to-growth popenty d. the relevant production function has the constant-retures-to-scale property. 7. If a production function has constant returns to scale, output can be doubled if a labor alone dosbles b. all inputs but labor double. C. Each inputs double. d. None of the above is correct. 8. When a society decides to increase its quantity of physical capital, the society a can avoid the useal need to face trade-ofts b. is apparently not very concemed aboun its rate of econoemic rowth in the future. c. is in effect deciding to consume fewer goods and services in the present d. is in effect deciding to save less of its current income in the present 9. Suppose that an American opens and operates a candy factory in Ireland. This is an example of a. foreign direct investment American saving is used to fimance lrish invstme b. foreign direct investment. Amcrican saving is used to finance American investment e. foreign portfolio investment. American saving is used to finance Irish investment d. foreign portfolio investment. American saving is used to finance American a Open With Print 10:24 HOMEWORK 3 Spring 2019.docx 7. Ifa production function has constant returns to scale, output can be doubled if a. labor akone doubles b.all inputs but labor double. c. Each inputs double d. None of the above is cornect. 8. When a society decides to increase its quantity of physical capital, the society a can avoid the usual need to face trade-ofts b. is apparently not very concermed about its rate of economic growth in the future c. is in effect deciding to consume fewer goods and services in the presant d. is in effect dociding to save less of its current income in the present 9. Suppose that an American opens and operates a candy factory in Ireland. This is an example of a foreign direct investment. American saving is used to finance Irish investmem b. foreign direct investment American saving is used to finance American investment c. foreign portfolio investment. American saving is used to finance Irish investment d. foreign portfolio investment. American saving is used to finance American 10. Foreign saving is used for domestic investment when foreigners engage in a. foreign direct investment b. foreign portfolio investment c. either freign direct investment or foreign portfolio vaamL d. None of the above is correct a Open With Print