Because of diminishing returns to capital, further increases in the quantity of capital in China would...
Because of diminishing returns to capital, further increases in the quantity of capital in China would be represented as ________ the Chinese production function.
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a downward shift of |
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an upward shift of |
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a movement up along |
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a movement down along |
Homework Answers
Ans) the correct option is an upward shift of.
further increases in the quantity of capital in China will lead to a smaller increase in real gdp per worker.
Add Answer to:
Because of diminishing returns to capital, further increases in
the quantity of capital in China would...
JUU: ON IL 19 01 5.1-20 Diminishing marginal returns do not exist for increases in O...
JUU: ON IL 19 01 5.1-20 Diminishing marginal returns do not exist for increases in O A. capital stock. O B. total factor productivity. O C. labor. OD. Diminishing marginal returns exist for all of the above answers. Click to select your answer and then click Check Answer. All parts showing Clo 20 of 27 (8 complete) HW Score: 27.78%, 7.5 of Score: 0 of 1 pt 5.1-22 Question Help Real GDP, Y (billions of dollars) All else equal, an...
Suppose a worker at a computer company rearranges existing machines and labor and increases production in...
Suppose a worker at a computer company rearranges existing machines and labor and increases production in the process. Using the production function, with output on the vertical axis and labor on the horizontal axis, this would be described as a. an upward shift of the curve combined with an upward movement along the curve. b. a movement upward along the curve. c. a movement downward along the curve. d. a downward shift of the curve. e. an upward shift of...
(Negative, Diminishing or increasing) returns in the U.S. economy’s aggregate production function have allowed the Chinese...
(Negative, Diminishing or increasing) returns
in the U.S. economy’s aggregate production function have allowed
the Chinese economy to
(converge with or diverge from)
the U.S. economy, primarily as a result of the increase in
capital and
(inefficient or efficient) institutions in
China.
Question 25 Use the graph to answer the following questions. 350 300 Real GDP o 100...
Question 25 Use the graph to answer the following questions. 350 300 Real GDP o 100 200 300 Capital 400 500 600 If capital is increasing, then the production function will shift upward. the production function will shift downward. there is an upward movement along the production function there is a downward movement along the production function there is an upward shift of the production function and an upward movement along the production function
Production Function 1. (3 points) In one sentence, explain diminishing marginal returns to capital. 2. (5...
Production Function 1. (3 points) In one sentence, explain diminishing marginal returns to capital. 2. (5 points) Sketch a graph displaying a production function that exhibits diminishing marginal returns. For full credit, label your x- and y- axis, as well as the function.
28) The law of diminishing returns, as it applies to labor, means that A) the marginal...
28) The law of diminishing returns, as it applies to labor, means that A) the marginal product of labor will eventually be a horizontal line at zero. B) the average product of labor starts to decline before the marginal product of labor. C) total output eventually decreases. D) the average product of labor increases at a decreasing rate. E) the marginal product of labor eventually decreases as more labor is added with capital held fixed. 29) A firm's short-run labor...
Scenario: Two economies, A and B, have identical aggregate production functions with diminishing returns. In both...
Scenario: Two economies, A and B, have identical aggregate production functions with diminishing returns. In both economies, capital and labor are equally important for production. Economy A has twice as many efficiency units of labor as economy B. Economy B has twice as much physical capital stock as economy A. Refer to the scenario above. Over time, economy A develops sophisticated technology, and human capital becomes less and less valuable in the production of goods and services that require more...
The slope of the per-worker production function diminishes as the amount of capital per worker increases....
The slope of the per-worker production function diminishes as the amount of capital per worker increases. This is a reflection of the law of Select one: a. demand b. constant marginal returns c. diminishing marginal returns d. increasing marginal returns e. first diminishing then increasing marginal returns
anc dns 9. Suppose the actual unemployment rate increases. This will cause C ) a. a...
anc dns 9. Suppose the actual unemployment rate increases. This will cause C ) a. a downward shift in the WS curve. ( ) b. a downward shift in the PS curve. ( c. an upward shift in the WS curves ( ) d. a movement along the PS curve. 10. Suppose that increased international trade makes product markets more competitive in the U.S. Given this information, we would expect to observe which of the following? ( a. an upward...
12. What happens with no diminishing returns? Consider a Solow model where the production function no...
12. What happens with no diminishing returns? Consider a Solow model where the production function no longer exhibits diminishing returns to capital accu- mulation. This is not particularly realistic, for reasons discussed in Chapter 4. But it is interesting to consider this case nonetheless because of what it tells us about the workings of the Solow model. Assume the production function is now Y, = AK. The rest of the model is unchanged. (a) Draw the Solow diagram in this...
JUU: ON IL 19 01 5.1-20 Diminishing marginal returns do not exist for increases in O A. capital stock. O B. total factor productivity. O C. labor. OD. Diminishing marginal returns exist for all of the above answers. Click to select your answer and then click Check Answer. All parts showing Clo 20 of 27 (8 complete) HW Score: 27.78%, 7.5 of Score: 0 of 1 pt 5.1-22 Question Help Real GDP, Y (billions of dollars) All else equal, an...
(Negative, Diminishing or increasing) returns
in the U.S. economy’s aggregate production function have allowed
the Chinese economy to
(converge with or diverge from)
the U.S. economy, primarily as a result of the increase in
capital and
(inefficient or efficient) institutions in
China.
Question 25 Use the graph to answer the following questions. 350 300 Real GDP o 100 200 300 Capital 400 500 600 If capital is increasing, then the production function will shift upward. the production function will shift downward. there is an upward movement along the production function there is a downward movement along the production function there is an upward shift of the production function and an upward movement along the production function
Production Function 1. (3 points) In one sentence, explain diminishing marginal returns to capital. 2. (5 points) Sketch a graph displaying a production function that exhibits diminishing marginal returns. For full credit, label your x- and y- axis, as well as the function.
28) The law of diminishing returns, as it applies to labor, means that A) the marginal product of labor will eventually be a horizontal line at zero. B) the average product of labor starts to decline before the marginal product of labor. C) total output eventually decreases. D) the average product of labor increases at a decreasing rate. E) the marginal product of labor eventually decreases as more labor is added with capital held fixed. 29) A firm's short-run labor...
anc dns 9. Suppose the actual unemployment rate increases. This will cause C ) a. a downward shift in the WS curve. ( ) b. a downward shift in the PS curve. ( c. an upward shift in the WS curves ( ) d. a movement along the PS curve. 10. Suppose that increased international trade makes product markets more competitive in the U.S. Given this information, we would expect to observe which of the following? ( a. an upward...
12. What happens with no diminishing returns? Consider a Solow model where the production function no longer exhibits diminishing returns to capital accu- mulation. This is not particularly realistic, for reasons discussed in Chapter 4. But it is interesting to consider this case nonetheless because of what it tells us about the workings of the Solow model. Assume the production function is now Y, = AK. The rest of the model is unchanged. (a) Draw the Solow diagram in this...
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