Property rights are important institutions for encouraging investment because:

Question $1$ options:

a$)$ 

they increase the total funds available to invest.

b$)$ 

people won't invest if they feel their property is at risk and that they may not realize a return on their investment.

c$)$ 

they tend to support industrial sectors more than agricultural sectors$.$

d$)$ 

they eliminate corruption.

Question $2(1$ point$)$ 

Human capital is the:

Question $2$ options:

a$)$ 

knowledge about how the world works that is used to produce goods and services.

b$)$ 

productive knowledge and skills that workers acquire through education, training, and experience.

c$)$ 

stock of tools, including machines, structures, and equipment, used by workers to produce output.

d$)$ 

same thing as the overall population.

Question $3(1$ point$)$ 

Which statement best describes the cross$-$country evidence on the relationship between a nation's GDP per capita and standard measures of societal well$-$being?

Question $3$ options:

a$)$ 

GDP per capita is negatively related to measures of societal well$-$being.

b$)$ 

GDP per capita is positively related to measures of societal well$-$being.

c$)$ 

The relationship between GDP per capita and societal well$-$being is positive at times and negative at times.

d$)$ 

There is no relationship between GDP per capita and measures of societal well$-$being.