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ECON 102 Quizam 1, home part Submit by 8:303:11, Feb. 211't 1. Dene capital as the term is used in the context of macroeconomics. [4]
ECON 102 Quizam 1, home part Submit by 8:303:11, Feb. 211't 1. Dene \"capital" as the term is used in the context of macroeconomics. [4] 2. Table 1 shows a sample ofthree countries, with their GDP per capita and capital per capita. In the table, what is the relationship between GDP and capital? Do they move together? Opposite? Unrelated? [3] 3. Does your answer to question 2 fit with the role of capital in production? That is, given what capital is and what it does, does the relationship you described in question 2 make sense? [2] Yes No (circle one) 4. Explain your answer to question 3. [4] 5. 0f the four factors of production, why does energy represent \"resources\"? [3] 6. Table 2 shows a sample of three countries, with their GDP per capita and energy use per capita. In the table, what is the relationship between GDP and energy use? Do they move together? Opposite? Unrelated? [3] 7. Does your answer to question 6 t with the role of resources in production? That is, given what resources are and the role they play in production, does the relationship you described in question 6 make sense? [2] Yes No (circle one) 8. Explain your answer to question 7. [4] Figure l (at the end of the document) shows the value of equipment per full-time equivalent employee in ve different economic activities. 9. In the table below, identify each activity as \"Extract", \"Transform\
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