Economic growth depends more on technological change than on increases on capital per hour worked

A country with a real GDP per person similar to real GDP per person in the United States but with limited political freedom is generally considered to have

A) a lower standard of living than the United States. B) a larger Human Development Index because the other country still needs to develop more political freedom. C) the same standard of living as the United States. D) an understated GDP. E) an overstated nominal GDP.

Which of the following is not a reason why some production continues in households?

a. Some household production requires many specialized resources b. The opportunity cost of household production has decreased over time c. Household production avoids taxes d. There have been important technological advances in household production e. Some households prefer the ability to control production