Which of the following statements is correct?
A) The U.S. population has increased more rapidly than real GDP in recent decades.
B) Improved education and training of labor is the most important source of U.S. productivity growth.
C) The average American factory worker has about 16 years of formal education.
D) The amount of real capital used per worker has increased historically in the United States.

Question

Quizplus · Accepted Answer

The statement that "the amount of real capital used per worker has increased historically in the United States" is correct. This means that over time, the U.S. has been investing in more and better machines, technology, and infrastructure to increase productivity. The other statements are either incorrect (A and B) or not entirely accurate (C - the average American factory worker may have more or less than 16 years of formal education depending on the industry).

Which of the Following Statements Is Correct