c. More pollution if not well managed
d. Unequal distribution of wealth
-Real GDP per person equals average labor productivity (Y/N): times the share of population
-If real GDP per person in a country equals $20,000 and 40 % of the population is employed
then the average labor productivity equals: 20,000=.4*X.
-The application of new technology to the production process increases= average labor
productivity. Even technology and 6 other factors.
-_____ start new economic enterprises, while ____ run the enterprise on a day-to-day basis
- entrepreneur contribute to increase average labor productivity in each of the following ways
A. introducing new production methods
B. implementing new technology process
C. developing new products
D. Assigning works to jobs
Manager does this.
-Human capital: the talents, training, and education of workers. NOT the factories and
machinery used by humans in production, that is physical capital, not the financial resources
available, and not the factories and machines made by humans
-which of the following is an example of an investment in human capital?
A. a form replaces manually controlled production with a computer-controlled process
B. a firm pays for workers to take college classes
C. a chemical firms supports research to develop new chemicals
D. a firm purchases new equipment for a manufacturing process.
-suppose that the sharer of the population employed in country B is 50 percent and that the
countries B and C have the same real GDP per capita. Based on the information in the table,
what share of country C’s population must be employed?
A- 100 mil pop – 2,000 average labor productivity