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Ans) Labour productivity is real output per labour hour.
Increase in capital goods like machinery, increases labour productivity.
Increase in technology advancement, for eg like invention if assembly line, increases labour productivity.
Increase in skills i.e development of human capital also increases productivity.
Lastly, increase in labor force also increases output.
Option b, c and d.
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2. Economic growth determinants Which of the following are true of labor...
Which of the following are true of capital as a determinant of economic growth? Check all...
Which of the following are true of capital as a determinant of economic growth? Check all that apply. a. Capital investment decreases per capita real GDP. b. As consumption increases, capital formation also increases. c. Countries with higher investment rates tend to have higher growth rates. d. Technological advances allow more output from the same amount of capital.
10. Which of the following would by itself. reveal the most about a. Its level of...
10. Which of the following would by itself. reveal the most about a. Its level of capital. b. The number of hours worked. c. Its availability of natural resources. d. Its productivity. the most about a country's standard of living? 11. Which of the following is correct? Although levels of real GDP per person vary substantially from country to country the growth rate of real GDP per person is similar across countries. b. Productivity is not closely linked to government...
Select all of the true statements about increases in physical capital per worker. If real GDP...
Select all of the true statements about increases in physical capital per worker. If real GDP is below potential GDP, an increase in physical capital per worker will correct the problem Increases in physical capital per worker will generally increase labor productivity Technological advancements increase physical capital per worker The U.S. economy has struggled because physical capital has not grown as fast as the population. On the graph, demonstrate the effects of a significant increase in physical capital per worker....
All of the following contribute to economic growth except: increases in technology. increases in research and...
All of the following contribute to economic growth except: increases in technology. increases in research and development. increases in labor productivity. increases in the average level of prices. c. If growth in real GDP exceeds population growth: material living standards would likely decline. material living standards would likely increase. per-capita GDP would decrease. productivity would decrease. If nominal GDP rose from $6,500 billion in the base year to $7,030.4 billion in the current year and the current year GDP Deflator...
1) Which of the following is an example of a measure of labor productivity
1) Which of the following is an example of a measure of labor productivity?a. Autos get 30 gallons to the mile.b. The growth rate of per capita real GDP is 3.5 percent per year.c. Farm workers produce 30 bushels of wheat per worker per day.d. Wages increase by 3.5 percent per year for 5 years.2) Labor productivity increases whena. the unemployment rate decreases.b. the average output produced per worker during a specified time period decreases.c. the average number of hours...
When considering economic growth, many policy makers focus on real gross domestic product (GDP) per capita...
When considering economic growth, many policy makers focus on real gross domestic product (GDP) per capita since it! takes into account the potentially distorting effects of capital flows. O population change. O pollution. O unemployment. Any large, sustainable increase in real GDP must be due to steadily increasing levels of research and development. labor productivity. birth rates. O levels of labor force participation.
QUESTION 3 Which of the following was not one of the determinants of how fast an...
QUESTION 3 Which of the following was not one of the determinants of how fast an economy can grow (as discussed in Chapter 11)? Human capital Actually, all of the above were determinants of economic growth as discussed in Chapter 11 The overall price level Technological change QUESTION 4 Which of the following was not discussed in class and in lecture as one of the factors that can inhibit a country's economic growth? Actually all three of the above were...
Determine whether each of the following statements about human resources and economic growth in less-developed countries...
Determine whether each of the following statements about human resources and economic growth in less-developed countries (LDCs) is true or false. Statement Population growth increases both GDP and GDP per capita. Brain drain occurs when educated workers of LDCs pursue careers in wealthier countries. LDCs often experience rapid population growth with high human capital investment. The typical LDC often lacks the ability to educate and train its labor force. True False
What two factors are the keys to determining labour productivity? Select one: O a. technology and...
What two factors are the keys to determining labour productivity? Select one: O a. technology and the quantity of capital per hour worked O b. the growth rate of real the growth rate of real GDP and the interest rate O c. the average level of education of the workforce and the price level O d. the business cycle and the growth rate of real GDP Long-run economic growth requires all of the following except Select one: O a. Long-run...
Which statement about U.S. economic growth since 1950 is true? The 1950s and 1960s were particularly...
Which statement about U.S. economic growth since 1950 is true? The 1950s and 1960s were particularly good decades for growth, and the benefits of growth were more widely shared than they have been in recent decades. The decade of the 1990s was by far the best for growth, as improvements in information technology greatly increased productivity. Growth of GDP per capita has been remarkably constant over this time; no decade stands out as either better or worse than any other....
10. Which of the following would by itself. reveal the most about a. Its level of capital. b. The number of hours worked. c. Its availability of natural resources. d. Its productivity. the most about a country's standard of living? 11. Which of the following is correct? Although levels of real GDP per person vary substantially from country to country the growth rate of real GDP per person is similar across countries. b. Productivity is not closely linked to government...
Select all of the true statements about increases in physical capital per worker. If real GDP is below potential GDP, an increase in physical capital per worker will correct the problem Increases in physical capital per worker will generally increase labor productivity Technological advancements increase physical capital per worker The U.S. economy has struggled because physical capital has not grown as fast as the population. On the graph, demonstrate the effects of a significant increase in physical capital per worker....
All of the following contribute to economic growth except: increases in technology. increases in research and development. increases in labor productivity. increases in the average level of prices. c. If growth in real GDP exceeds population growth: material living standards would likely decline. material living standards would likely increase. per-capita GDP would decrease. productivity would decrease. If nominal GDP rose from $6,500 billion in the base year to $7,030.4 billion in the current year and the current year GDP Deflator...
When considering economic growth, many policy makers focus on real gross domestic product (GDP) per capita since it! takes into account the potentially distorting effects of capital flows. O population change. O pollution. O unemployment. Any large, sustainable increase in real GDP must be due to steadily increasing levels of research and development. labor productivity. birth rates. O levels of labor force participation.
QUESTION 3 Which of the following was not one of the determinants of how fast an economy can grow (as discussed in Chapter 11)? Human capital Actually, all of the above were determinants of economic growth as discussed in Chapter 11 The overall price level Technological change QUESTION 4 Which of the following was not discussed in class and in lecture as one of the factors that can inhibit a country's economic growth? Actually all three of the above were...
Determine whether each of the following statements about human resources and economic growth in less-developed countries (LDCs) is true or false. Statement Population growth increases both GDP and GDP per capita. Brain drain occurs when educated workers of LDCs pursue careers in wealthier countries. LDCs often experience rapid population growth with high human capital investment. The typical LDC often lacks the ability to educate and train its labor force. True False
What two factors are the keys to determining labour productivity? Select one: O a. technology and the quantity of capital per hour worked O b. the growth rate of real the growth rate of real GDP and the interest rate O c. the average level of education of the workforce and the price level O d. the business cycle and the growth rate of real GDP Long-run economic growth requires all of the following except Select one: O a. Long-run...
Which statement about U.S. economic growth since 1950 is true? The 1950s and 1960s were particularly good decades for growth, and the benefits of growth were more widely shared than they have been in recent decades. The decade of the 1990s was by far the best for growth, as improvements in information technology greatly increased productivity. Growth of GDP per capita has been remarkably constant over this time; no decade stands out as either better or worse than any other....
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