For a Given Level of Technology, We Should Expect an Increase

question 19

Multiple Choice

For a given level of technology, we should expect an increase in productivity within a nation when there is an increase in each of the following except

• A) labour.
• B) physical capital/worker.
• C) human capital/worker.
• D) natural resources/worker.

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Definitions:

Craft Workers

Employees who possess specialized skills in a particular trade or craft, often requiring specific training and apprenticeships, such as carpenters, electricians, or plumbers.

Big Business

Large-scale corporate enterprises that have a significant impact on the economy and society.

Prosperity

A state of economic growth and stability, often characterized by low unemployment and high consumer confidence.

Great Depression

A severe worldwide economic downturn that took place during the 1930s, marked by widespread unemployment, severe deflation, and financial panic.