Quiz 4 - except one . Which is the exception? a. the laws,...

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1. Productivity is defined as a. the ratio of a specific measure of output to a specific measure of input b. the production of worthwhile goods and services c. the market value of goods, services, and sources produced per time period (e g resources produced per time period (e.g., per year) i t di id d b d. the average input divided by average output Answer : A e. total input divided by average output
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2. The resource whose productivity is most commonly measured is bor a. labor b. capital c. land ergy d. energy e. money Answer : A
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3. The rules of the game include all f the following xcept one of the following
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Unformatted text preview: except one . Which is the exception? a. the laws, customs, conventions and other institutional elements associated with trade b. property rights c. ensuring that the market process generates a fair price to all p d. a stable political environment e. a stable legal system Answer : C 4. An example of an increase in uman capital would be hi th t h t d human capital would be a. a new machine that humans use to produce more capital b. an increase in wealth c. a more educated labor force d . a ll of the above oth a and c e. both a and c Answer : C...
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Quiz 4 - except one . Which is the exception? a. the laws,...

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