Question 16. Which of the following statements is TRUE? (More than one answer for question 16). QUESTION 1515. Which of the following are important determinants of one's productivity?O (a) The tools, with which one works-tools that are often made available by the employerO (b) The skill level of one's co-workersO (c) The economy's transportation and communication systemsO (d) The ethical behavior of society, at least as it relates to commercial transactions(e) All the aboveQUESTION 1616. Which of the following statements is true?(a) Mutually beneficial exchange requires the absence of coercion and fraud and the ability of the parties to the exchange being able to calculate their costs andbenefits.(b) For one country to gain from trade the other has to lose.(c) Only the most efficient producer of a good has the comparative advantage in that good.(d) Even the worst producer of all goods will always have a comparative advantage in at least one good and will be able to sell that good.(e) It is possible for exchange which is not mutually beneficial to go forward the costs of "transition," (shifting resources from the import competing industry to theexport industry) are high enough.(f) The best way to counter the "special interest" problem where producers of import competing goods lobby against trade, is compensation.Click Save and Submit to save and submit. Click Save All Answers to save all answers.

QUESTION 15 15. Which of the following are important determinants of one's productivity? O (a) The tools, with which one works-tools that are often made available by the employer (b) The skill level of one's co-workers (c) The economy's transportation and communication systems (d) The ethical behavior of society, at least as it relates to commercial transactions (e) All the above

QUESTION 15 15. Which of the following are important determinants of one's productivity? O (a) The tools, with which one works-tools that are often made available by the employer (b) The skill level of one's co-workers (c) The economy's transportation and communication systems (d) The ethical behavior of society, at least as it relates to commercial transactions (e) All the above

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 12SCQ: Why dues productivity growth in high-income economies not slow down as it runs into diminishing...

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