Homework Answers
Let's try to understand what production and productivity mean and how it is impacted by the inputs.
Production refers to the total units of production given a mix of
inputs being used - Technology, labor, human capital, and natural
resources. Total output or production is a function of not only
labor or capital or technology or natural resources being used but
also a factor of total factor productivity that measures the
efficiency.
Total factor productivity is nothing but a variable that
accounts for effects in total output not caused by traditional
inputs of labor/capital/technology/natural resources.
Thus, even though, we might keep all the input the same, the total
output can still increase, and with time there is an increase in
productivity as well.
Thus, Holding technology, labor, human capital, and natural resources the same, production would increase and productivity would increase.
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4. Holding technology, labor, human capital, and natural resources the same, production would decrease/increase/stay the same)...
Options for CATEGORY: ( Human Capital - Physical Capital - Technology - Natural resources ) Options...
Options for CATEGORY: ( Human Capital - Physical Capital
- Technology - Natural resources )
Options for EFFECT ON ECONOMIC DEVELOPMENT: ( Increase -
Decrease )
A number of factors can affect productivity and economic development. Assign the following items to the appropriate factor category and state whether the effect would increase or decrease economic development. a. A hurricane destroys several oil refineries on the Gulf Coast. Category: (Click to select) 9 Effect on economic development: (Click to select) b....
Consider the following developments and state whether an economy's potential output would increase, decrease, or stay...
Consider the following developments and state whether an economy's potential output would increase, decrease, or stay the same. For each letter point below, please highlight one, and explain in one or two rows below each of your choices a. A decrease in the money supply Increase Stay the same Decrease b. A decrease in the unemployment rate Increase Stay the same Decrease c. An increase in manufacturing productivity Increase Stay the same Decrease d. An increase in the working age...
7. Which determinant(s) of workerís productivity (technology, physical cap- ital per worker, human capital per worker,...
7. Which determinant(s) of workerís productivity (technology, physical cap- ital per worker, human capital per worker, and/or natural resources per worker) will be a§ected, how (increase or decrease) and why (provide some very brief reasoning) if the government: (a) eliminates tari§s on imported agricultural products (b) eliminates barriers to skilled labor immigration (c) uses Öscal policy to attract foreign direct investment (d) cuts grants for academic research (e) eliminates existing investment tax credits (f) improves the quality of the health...
increasing capital formation (savings/investment) improving human capital (skills/knowledge/productivity of labor) raising entrepreneurial ability enhancing natural resources...
increasing capital formation (savings/investment) improving human capital (skills/knowledge/productivity of labor) raising entrepreneurial ability enhancing natural resources upgrading technology and infrastructure the existence of a competitive and open market sensible planning effective legal and judicial system effective government oversight Use short bullet points and provide only the essence of each theory in 50 words or less. Which of the above factors does the theory focus on? What does the theory suggest drives growth? GROWTH THEORY DRIVERS OF GROWTH/WEALTH CREATION ADAM SMITH...
Define labor productivity. Discuss the relationship between labor productivity, human capital growth, and technology change. Explain...
Define labor productivity. Discuss the relationship between labor productivity, human capital growth, and technology change. Explain thoroughly with words + graph. Explain also the graph and how its components interact. Can you show me how to do this and explain it for me please, thank you so much
3. Which determinant(s) of worker's productivity technology (or more gen- erally total factor productivity) A, physical...
3. Which determinant(s) of worker's productivity technology (or more gen- erally total factor productivity) A, physical capital per worker human capital per worker , and/or natural resources per worker †l will be affected and how (increase or decrease) if the government: (a) increases grants for academic research (b) restricts low-skilled labor immigration (c) improves the quality of the health care system (d) attracts foreign direct investment (e) engages in inward-oriented trade policies (f) is ousted by a military coup, which...
QUESTION 1 Answer each sub-question by stating whether the term indicated would increase, decrease, stay the...
QUESTION 1 Answer each sub-question by stating whether the term indicated would increase, decrease, stay the same, or not enough info to say. (Note: "increase" and "decrease" refer to the absolute value.) A. In the binomial distribution, as N decreases, what happens to the value of the most likely outcome when P 50? Stay the same Increase Decrease Not enough info to say 4 poi QUESTION 2 Answer each sub-question by stating whether the term indicated 'increase and cecrease' refer...
3. Does the resistance of the whole circuit increase, decrease, or stay the same when additional...
3. Does the resistance of the whole circuit increase, decrease, or stay the same when additional light bulbs are added in parallel? 4. Does the voltage across each individual light bulb increase, decrease, or stay the same when additional light bulbs are added in parallel?
It would decrease because the moment of inertia has increased It would stay the same because...
It would decrease because the moment of inertia has increased It would stay the same because it is independent of mass mass is increased? It would increase because there is more torque It would stay the same because the moment of inertia and mass both increased
If Q is total real output, K is capital in use, L is labor employed, an...
If Q is total real output, K is capital in use, L is labor employed, an increase in the productivity of labor would imply a(n):? increase in Q/L.? increase in L/K.? decrease in (Q + K)/L.? decrease in Q/K.? ?increase in K/L. Which of the following is true of the agricultural sector in developing countries?? ?It causes a rapid growth in the economy's national income. ?It relies heavily on technology. ?A very small percentage of labor force is employed in...
Options for CATEGORY: ( Human Capital - Physical Capital
- Technology - Natural resources )
Options for EFFECT ON ECONOMIC DEVELOPMENT: ( Increase -
Decrease )
A number of factors can affect productivity and economic development. Assign the following items to the appropriate factor category and state whether the effect would increase or decrease economic development. a. A hurricane destroys several oil refineries on the Gulf Coast. Category: (Click to select) 9 Effect on economic development: (Click to select) b....
Consider the following developments and state whether an economy's potential output would increase, decrease, or stay the same. For each letter point below, please highlight one, and explain in one or two rows below each of your choices a. A decrease in the money supply Increase Stay the same Decrease b. A decrease in the unemployment rate Increase Stay the same Decrease c. An increase in manufacturing productivity Increase Stay the same Decrease d. An increase in the working age...
3. Which determinant(s) of worker's productivity technology (or more gen- erally total factor productivity) A, physical capital per worker human capital per worker , and/or natural resources per worker †l will be affected and how (increase or decrease) if the government: (a) increases grants for academic research (b) restricts low-skilled labor immigration (c) improves the quality of the health care system (d) attracts foreign direct investment (e) engages in inward-oriented trade policies (f) is ousted by a military coup, which...
QUESTION 1 Answer each sub-question by stating whether the term indicated would increase, decrease, stay the same, or not enough info to say. (Note: "increase" and "decrease" refer to the absolute value.) A. In the binomial distribution, as N decreases, what happens to the value of the most likely outcome when P 50? Stay the same Increase Decrease Not enough info to say 4 poi QUESTION 2 Answer each sub-question by stating whether the term indicated 'increase and cecrease' refer...
It would decrease because the moment of inertia has increased It would stay the same because it is independent of mass mass is increased? It would increase because there is more torque It would stay the same because the moment of inertia and mass both increased
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