-14 Having sbundant naturabresource b io necessary to soieve sonio 15 Real GOP w

Question

-14 Having sbundant naturabresource b io necessary to soieve sonio 15 Real GOP will increase there is an increase in the quantity of labor s b there is an inrease in iabor produy 6 Both of the above d, Neither of the above -10. An inerease in labor productvny a, is an increase in ouiput per unit of labor b, will increase Real GDP 6 will increase per capita Real GDP d. All of the above -17, An increase in labor productivity can be achieved by: a an increase in the quantity of labor b, an increase in human capital 6, an increase in physical capital d. Both b, and 6, above -18, Which of the following is correct? a. Labor productivity on U.S. dairy farms is almost 4 times greater than labor productivity on dairy farms in India b. India is the largest milk producer in the wond G, Both of the above d Neither of the above 19, Increases in capital a are made possible by increasing current consumption b, lead to increases in per capita Real GDP e, are made possible by saving d, Both b, and e, above 20. In a free market economy a more new ideas will be generated than in a centrally planned economy b, bad ideas will quickly be abandoned because of the competitive process e, Both of the above d. Neither of the above

Explanation / Answer

Answer 14. A. probably helpful in achieving economic growth.

Abundant natural resources are not a sure shot reason behind achieving economic growth but it is surely helpful. Because there are other factors as well, unless resources are used efficiently economic growth is not possible.

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