Homework Answers
a) "B"
all of the given options are a determinant how an economy in the market are growing.
b) "A"
All of the given options were discussed . the answer is "A".
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QUESTION 3 Which of the following was not one of the determinants of how fast an...
Question 3 3. As discussed in Chapter 10, real GDP per capita in the United States...
Question 3
3. As discussed in Chapter 10, real GDP per capita in the United States grew from about $6,000 in 1900 to $50,010 in 2014, which represents an average annual growth rate of 1.9%. If the US economy continues to grow at this rate, how many years will it take for real GDP per capita to double from the 2014 number? If the economic growth rate was 2.2 rather than the historic 1.99 how many years will it take...
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...
QUESTION 7 Based on what you read in the required readings, which scenario is the most...
QUESTION 7 Based on what you read in the required readings, which scenario is the most likely to happen? A country's economy will grow if it can rely on cheap energy resources A country's low energy costs will resut in a rise in inlation. O The high oil prices in a country will lead to high economic growth. O The low energy costs of a country will result in high trade deficits
Please explain all questions. Thanks 52. Which of the following statements best illastrates economic growh? a....
Please explain all questions. Thanks
52. Which of the following statements best illastrates economic growh? a. An increase in the quantity of abour always leads to cconomic growth. b. Increased education adds to the stock of human capital, NOT unlike building factories, which adds to the stock of physical capital c. A decrease in the peoductivity of labour leads to economic growth d. An increase in the minimam wage will always lead to economic growth 53. Which of the following...
Solow Growth Model D. Consider an economy with production characterized by function Y = AVKL, per...
Solow Growth Model D. Consider an economy with production characterized by function Y = AVKL, per capita output y = AVkt with rate of depreciation of capital 8, investment it = sy. = sAvky, capital transition function kt+1 - k = SAVk - Okt, where s is savings ratio. 1. Putting per capita output (income) y on the y-axis and k on the x-axis, graph the curves for depre- ciation and investment. Label steady state capital k* and steady state...
can anyone help solving this question. it"s typo of part e that should be part d...
can anyone help solving this question.
it"s typo of part e that should be part d
QUESTION 2 This question aims to explore some of the points discussed in Topic 2 (Solow-Swan model). It is also designed to test your understanding of Chapter 5 of the prescribed textbook. Consider an economy with the general Cobb-Douglas production function: Answer the following questions assuming that labour grows at the rate n = 0 and adopting the assumptions made in lecture. The equation...
Problem set #3 1) What is human capital, and how is it different from strictly the...
Problem set #3 1) What is human capital, and how is it different from strictly the quantity of workers available for work? Name three ways to increase a nation’s human capital. Is an increase in the size of the labor force also an increase in the human capital? Explain your answer. 2) The Rule of 70 applies in any growth rate application. Let’s say you have $1000 in savings and you have three alternatives for investing these funds. How long...
1. Large disparities in wages could possibly result from all but which one of the following?...
1. Large disparities in wages could possibly result from all but which one of the following? A. Parental investment in a child's human capital. B. Increases in the amount of middle class jobs. C. Skill-biased technological change. D. Globalization. E. An increase in the demand for highly skilled labor. 2. Which of the following measures would best allow one to compare the relative wealth of poor households to the typical household in an economy? A. The perfect-equality Lorenz curve. B....
Which of the following is a microeconomics question? A. How much will be saved and how...
Which of the following is a microeconomics question? A. How much will be saved and how much will be produced in the entire economy? B. What will the level of economic growth be in the entire economy? C. What factors determine the price of carrots? D. What determines the average price level and inflation?
How do the national income accounts change if social security payments increase? A) Consumption falls. B)...
How do the national income accounts change if social security payments increase? A) Consumption falls. B) Consumption rises. C) Savings rise. D) This change is not captured in the national income accounts. How do the national income accounts change if unemployment benefits paid to people increase? A) Consumption falls. B) Consumption rises. C) Savings rise. D) This change is not captured in the national income accounts. How do the national income accounts change if national defense spending increases? A) Government...
Question 3
3. As discussed in Chapter 10, real GDP per capita in the United States grew from about $6,000 in 1900 to $50,010 in 2014, which represents an average annual growth rate of 1.9%. If the US economy continues to grow at this rate, how many years will it take for real GDP per capita to double from the 2014 number? If the economic growth rate was 2.2 rather than the historic 1.99 how many years will it take...
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...
QUESTION 7 Based on what you read in the required readings, which scenario is the most likely to happen? A country's economy will grow if it can rely on cheap energy resources A country's low energy costs will resut in a rise in inlation. O The high oil prices in a country will lead to high economic growth. O The low energy costs of a country will result in high trade deficits
Please explain all questions. Thanks
52. Which of the following statements best illastrates economic growh? a. An increase in the quantity of abour always leads to cconomic growth. b. Increased education adds to the stock of human capital, NOT unlike building factories, which adds to the stock of physical capital c. A decrease in the peoductivity of labour leads to economic growth d. An increase in the minimam wage will always lead to economic growth 53. Which of the following...
Solow Growth Model D. Consider an economy with production characterized by function Y = AVKL, per capita output y = AVkt with rate of depreciation of capital 8, investment it = sy. = sAvky, capital transition function kt+1 - k = SAVk - Okt, where s is savings ratio. 1. Putting per capita output (income) y on the y-axis and k on the x-axis, graph the curves for depre- ciation and investment. Label steady state capital k* and steady state...
can anyone help solving this question.
it"s typo of part e that should be part d
QUESTION 2 This question aims to explore some of the points discussed in Topic 2 (Solow-Swan model). It is also designed to test your understanding of Chapter 5 of the prescribed textbook. Consider an economy with the general Cobb-Douglas production function: Answer the following questions assuming that labour grows at the rate n = 0 and adopting the assumptions made in lecture. The equation...
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