Question

question 1
1 pts
what two factors are the keys to determining labor productivity?
the business cycle and the growth rate of real gdp
technology and the quantity of capital per hour worked
the growth rate of real gdp and the interest rate
the average level of education of the workforce and the price level
question 2
1 pts
the period of time from 1,000,000 b.c. to 1300 a.d. was a period of
no sustained economic growth.
moderate economic growth.
slow and steady economic growth.
rapid and sustained economic growth.

Explanation:

• Question 1: Labor productivity is determined by how efficiently labor can produce goods and services. Technology improves production methods (e.g., automation), and more capital per hour worked (e.g., better machinery) allows workers to be more productive. The business - cycle and real GDP growth rate are more about overall economic fluctuations and output levels rather than labor - specific productivity. The interest rate affects borrowing and investment decisions in a broader sense, not directly labor productivity. The price level is related to inflation and not a key determinant of labor productivity.
• Question 2: Before the Industrial Revolution (which started around the 18th century), there was no sustained economic growth. In the long period from 1,000,000 B.C. to 1300 A.D., technological progress was extremely slow, and there were no continuous improvements in factors like capital accumulation and productivity growth that are associated with sustained economic growth. Moderate, slow - and - steady, or rapid - and - sustained economic growth concepts are more relevant to periods after the establishment of more advanced economic systems and technological progressions.

Answer:

• Question 1: technology and the quantity of capital per hour worked
• Question 2: no sustained economic growth