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Based on the table below, if the production process described below is subject to
diminishing returns to capital, then total packages wrapped when a fourth machine
is installed must be less than _____ packages.
1. The biggest barrier to growth for many of the poorest countries in the
world is the need for:
larger populations.
more human capital.
more physical capital.
more natural resources.
OK improved legal and political frameworks.
2. Most countries provide their citizens free public education through high
school because:
the supply curve for education does not include all the social benefits
of education.
a market in equilibrium exploits all the gains achievable from
collective action.
YES the demand curve for education does not include all the social benefits
of education.
educational vouchers that help citizens purchase educational services
in the private sector have not proven to increase human capital.
NO direct government control over the standards and quality of education
is necessary to increase human capital.
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