A number of factors can affect productivity and economic development. Assign the following items to the...

A number of factors can affect productivity and economic development. Assign the following items to the appropriate factor category and state whether the effect would increase or decrease economic development.

a. A hurricane destroys several oil refineries on the Gulf Coast.

Category: (Click to select) Physical capital Natural resources Human capital Technology Effect on economic development: (Click to select) Increase Decrease

b. A computer software glitch causes a factory's production line to shut down for 5 hours.

Category: (Click to select) Natural resources Technology Physical capital Human capital Effect on economic development: (Click to select) Increase Decrease

c. A new oil field is discovered in western North Dakota.

Category: (Click to select) Technology Human capital Natural resources Physical capital Effect on economic development: (Click to select) Increase Decrease

d. A new drilling rig can extract oil more quickly from wells.

Category: (Click to select) Natural resources Physical capital Technology Human capital Effect on economic development: (Click to select) Increase Decrease

e. Children in a high-crime area miss school due to safety concerns.

Category: (Click to select) Technology Natural resources Physical capital Human capital Effect on economic development: (Click to select) Increase Decrease

f. A neuroscientist publishes a journal article on a process for improving students’ retention.

Category: (Click to select) Natural resources Technology Physical capital Human capital Effect on economic development: (Click to select) Increase Decrease

Expert Solution

Rahul Sunny answered 2 years ago

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