Pine Valley Furniture uses 5 workers working 8 hours to produce 80 rocking chairs. What is the productivity of these workers? 0 2 chairs per hour 6) 1 hour per chair 0 80 chairs 0 10 chairs Question 2 (1 point) What is human capital? 0 It is the knowledge and skills that workers acquire through education, training, and experience. 0 It is the stock of equipment and structures that is used to produce goods and services. 0 It is the total number of hours worked in an economy. 0 It is the same thing as technological knowledge. Question 3 (1 point) Which statement best describes the output if a production function has constant returns to scale? 0 Doubling inputs will double output. 0 Doubling inputs will triple output. 0 Doubling inputs will increase output. 0 Doubling inputs will decrease output. Question 4 (1 point) Monica works 8 hours and produces 7 units of goods per hour. Rachel works 6 hours and produces 10 units of goods per hour. What can we conclude? O Monica's productivity is greater than Rachel's, but Monica's output is less. 0 Rachel's productivity and output are greater than Monica's. O Monica's productivity and output are greater that Rachel's. O Rachel's productivity is greater that Monica's, but Rachel's output is less. Question 5 (1 point) Which list contains, in this order. natural resources, human capital, and physical capital? 0 for an oil company: the oil it brings to surface; the rigs; the refineries using its oil 0 for a railroad: fuel; railroad engineers; railroad tracks 0 for a restaurant: the land where it stands; the things the kitchen; the freezers where the steaks are kept O for a furniture company: wood; the company cafeteria; saws