Before the Twentieth Century, the MOST Important Determinant of Productivity

question 85

Multiple Choice

Before the twentieth century, the MOST important determinant of productivity was:

• A) technology.
• B) natural resources.
• C) physical capital.
• D) human capital.

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Definitions:

Compounded Monthly

Interest calculation method where the interest is added to the principal at the end of each month, resulting in "interest on interest".

Interest

The cost of borrowing money, typically expressed as an annual percentage rate.

Scheduled Payments

Predetermined amounts paid at regular intervals as part of a loan agreement or payment plan.

Defective Rate

The percentage of products that fail to meet quality standards or are considered malfunctioning out of the total produced.