The relationship between demand, labour cost, economic slowdown, cost of medicine, productivity and long run and short run changes in inflation.
The relationship between demand, labour cost, economic slowdown, cost of medicine, productivity and long run and...
A.What is the labour productivity and how does it relate to long run economic growth? B. Assuming that the legal system is already efficient at enforcing property rights and contracts what two factors can increases labour productivity? C.Based on your answer to questions A and B in the medium to long term would it be efficient for the government to increase expenditure on the university sector (assuming the money will be spent on teaching and research)? also show diagrams
Distinguish between the short-run and the long-run in a macroeconomic analysis. Why is the relationship between unemployment and inflation different in the short-run and the long-run?
We have discussed two models that describe the relationship between inflation and economic growth. Which of the following is a property of the New Keynesian Model but NOT the Real Business Cycle (RBC) Model? Monetary policy has no effect on long run economic growth Recessions can be caused by a fall in aggregate demand. Prices are fully flexible in both the short and long run. All the above are properties of the RBC model. None of the above are properties...
Labour Demand with Perfect Competition in the Labour Market and Perfect Competition in the Output Market in the Long Run. You are the manager of a business that operates in perfectly competitive markets {both the Labour Market and Output Market}. The production function of the business is given by:Q =2L1/4K1/4 .The price of the product is “10”. The wage rate is “1”. The price of capital is “2”. 1. Find the use of labour and capital in the long run....
2) Slowdown in productivity growth Consider the following two scenarios: i) The rate of technological progress drops permanently. i The savings rate drops permanently. a) Analyse graphically, what is the impact of each of these scenarios on economic growth in the next five years (short run)? b) Over the next five decades (long run)? Discuss the effects on both growth rates and output levels.
What is the relationship between real interest rat and inflation rate in the long run and short run? explain with figure.
What is the relationship between real interest rat and inflation rate in the long run and short run? explain with figure.
Long run aggregate supply is the relationship between the quantity of real GDP supplied and the price level when the maintain full employment changes in step with the price level to O A. money wage rate OB. quantity of money OC. real wage rate OD. interest rate supplied and the when the money wage rate, the prices of other resources and Short run aggregate supply is the relationship between the quantity of potential GDP remain constant O A real GDP...
What is the distinction between the economic short run and the economic long run? A. In the short run, the firm incurs only explicit costs, but in the long run, the firm incurs explicit and implicit costs. OB. In the short run, the firm can vary all inputs, but in the long run, at least one input is fixed. O c. In the short run, the firm incurs only variable costs, but in the long run, the firm incurs fixed...
The table below gives the relationship between the number of labor hours and the corresponding productivity per week in terms of the number of boxes of cookies that can be produced by Mother’s® Cookies Bakery production facility, based in Oakland, California. Labor Hours 0 100 200 300 400 500 600 700 Productivity per Labor Hour 0 30 35 40 45 40 35 30 Is the production process described above short-run or long-run? Justify your answer. Use the data given to...