A capital output ratio of 5 means: Select one: a. $1 of net investment will reduce productive capacity by $5.

A capital output ratio of 5 means:

Select one:

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a. $1 of net investment will reduce productive capacity by $5.

b. $5 of net investment will increase productive capacity by $1.

c. $1 of gross investment will increase productive capacity by $5.

d. $5 of gross investment will increase productive capacity by $1.

Which of the following provides the best definition of institutions?

Select one:

a. Institutions are the rules of the game in a society.

b. Institutions are formal governance structures.

c. Institutions are banks and other financial service providers.

d. Institutions are another name for multinational enterprises.

Multinational corporations are:

Select one:

a. International carriers of capital and technology only.

b. International carriers of capital and skilled labour only.

c. International carriers of skilled labour and technology only.

d. International carriers of skilled labour, technology and capital.

The NIEs provide examples of economies where a high rate of growth was accompanied by:

Select one:

a. Very high and increasing inequality.

b. Very high but declining inequality.

c. Low inequality and strong performances in terms of poverty reduction.

d. Low inequality but poor performance in poverty reduction.

Total Factor Productivity refers to:

Select one:

a. The miracle factors in the growth of the NIEs.

b. The average productivity of all factors employed in an economy.

c. A measure of the productivity of capital and technology.

d. The returns to investment in human capital