Service sector outputs could be expected to increase

Reference no: EM13690287

True or false

1. Service sector outputs could be expected to increase in price less than industrial sector outputs as an economy grows.

2. Labor productivity rises as the amount of capital available to workers increases.

3. A superior level of technology is an important reason the productivity of workers in rich countries is high.

4. A nation's capital consists mainly of stocks, bonds, and other financial assets.

5. Because it is a market economy, in the United States all research and development is done by private business firms.

Reference no: EM13690287

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