Productivity and Growth: Crash Course Economics #6

What is GDP?

• The market value of all goods and services newly produced in a country in one year

• The amount one country can export in a year

• The number of geriatric persons living in a country

• The net amount of imports being exported in a single year

What is GDP per capita?

• The GDP of the country divided by its population

• The net amount of exports divided by population

• The net amount of imports divided by the number of capitals

• The number of geriatric prisoners per year per capital

What are some things that the United Nations' Human Development Index measure?

Check all correct options.

• life expectancy

• literacy

• education

• quality of life

• number of births

Countries with a high GDP per capita have a low standard of living.

• False

• True

What is productivity?

• The ability to produce more output, per worker, per hour

• The ability to stay awake longer than anyone else

• A byproduct of excessive coffee

• Making more money with less resources

Productivity is directly tied to how much workers can earn.

• True

• False

What are the factors of production?

Check all that apply.

• land

• labor

• capital

• free market

What factors make up human capital?

Check all that apply.

• workers' education

• worker's knowledge

• workers' skill

• workers' paychecks

Technology is the sum total of knowledge and information that society has acquired concerning the use of resources to produce goods and services.

• True

• False