True or False:
1. Technological advance permits us to economize on labor, land, or even capital.
2. One of the most important determinants of economic growth is the saving rate.
3. Investment alone does not guarantee economic growth.
4. An important link between research and development and capital investment means that when capital depreciates over time, it is replaced with new equipment that embodies the latest technology.
5. In most developed countries, property rights are effectively protected by the government; but in developing countries, such protection is not normally the case.
6. Free-trade policies will tend to increase the value of total output in an economy.
7. Trade can make economies more productive, even if individual enterprises don’t become more efficient.
8. The correlation between per capita output and the proportion of the population that is unable to read and write is small.
9. Education is both a consequence of economic growth and a cause of economic growth.