Economic Growth and Productivity

What does GDP stand for?

• Gross Domestic Product

• General Domestic Product

• General Domestic Progress

• Gross Domestic Progress

What is GDP per capita?

• Total GDP divided by the country's area

• GDP divided by the number of cities

• GDP of the capital city

• GDP divided by the population

Which index measures life expectancy, literacy, and education?

• Quality of Life Index

• Economic Output Index

• GDP Index

• Human Development Index

What is a common misconception about the wealth of nations?

• It's measured by the number of exports

• It's determined by the country's size

• It depends solely on natural resources

• It's based on the number of industries

What is the main reason some countries are richer than others?

• Better climate

• Higher population

• Higher productivity

• More natural resources

What does productivity depend on?

• The size of the country

• The country's GDP

• The amount of capital and labor

• The number of factories

What is human capital?

• The number of workers in a country

• The health of the workforce

• Education and skills of the workforce

• Money invested in human resources

How does technology improve productivity?

• By increasing the number of workers

• By increasing the country's GDP

• By organizing resources more effectively

• By improving the quality of natural resources

What changed in the US around 1995 that led to a productivity boom?

• Growth in the education sector

• Increase in factory production

• Introduction of the World Wide Web

• Expansion of natural resources

What is a key factor that has improved living standards globally?

• Higher GDP

• More natural resources

• Larger populations

• Increased productivity