1) Improvements in labor productivity a) affect the level of profit, but do not

Question

1) Improvements in labor productivity a) affect the level of profit, but do not affect the rate of economic growth. b) affect the level of wages, but do not affect the rate of economic growth. c) lead to economic growth. d) hinder economic growth because they cause unemployment. 2) The modification of manufacturing processes so as to reduce the resulting environmental damage is an endeavor that requires capital investment, labor inputs, and technology. What then follows from this statement? a) The way to reduce pollution is to educate people about its effects. b) Environmental damage is a regrettable but necessary side effect of economic growth. c) The condition of the environment will be better in slower-growing countries. d) Economic growth can benefit the environment.

Explanation / Answer

b) affect the level of wages, but do not affect the rate of economic growth.

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