1. To gauge living standards across countries with populations of different sizes, economists use ____________. 2. In poor countries, the relative prices for nontraded goods (such as household...

1. To gauge living standards across countries with populations of different sizes, economists use ____________.

2. In poor countries, the relative prices for nontraded goods (such as household services) to traded goods (such as jewelry) are ____________ than in rich countries.

3. If an economy experiences an increase in the amount of capital stock per worker, we say that the economy is experiencing capital deepening. ____________ (True/ False)

4. ____________ is the knowledge and skills acquired by a worker through education and experience and used to produce goods and services.