ECON Quesion.. PLEASE help?

Question

59

Which of the following helps to explain Japan's high rate of labor productivity?

a. A large number of diligent students

b. A preference by Japanese workers for leisure over work

c. Small research and development expenditures

d. A relatively low saving rate

e. An abundance of natural resources

It is believed that the relatively high rate of growth of the labor force in the developing world does not translate into a high rate of economic growth because

a. workers in developing countries do not have the natural resources needed for production. b. workers in developing countries are lazy. c. workers in developing countries are inept. d. the high birth rate is more than offset by an enormous mortality rate. e. workers in developing countries have very little capital.

TRUE OR FALSE: The transition from socialism to capitalism happened so quickly that many economists categorized this change as an easy one.

Answer 1

c.

d.

false... the process is long as during this period inflation rises whereas GDP falls.

Answer 2

a. A large number of diligent students

e. workers in developing countries have very little capital.

False (though this one is discussable - so it is true in some sense).