1) Which of the following is an example of a measure of labor productivity
Labor productivity is the value of the production or output per worker. the production or output per hour. the production or output per worker per hour. Because of the compounding effect, large yearly growth rates are needed to achieve sustained growth. small changes in economic growth rate lead to large GDP changes over time. interest compounding allow the economy to grow faster.
Suppose labor productivity is $110,000 per worker in 2015. Calculate the value of labor productivity in 2035 (20 years later) if: Instructions: Enter your responses rounded to the closest $100. a. Productivity continues to grow by 2.6 percent per year. U.S labor productivity in 2035 would be $_ per worker. b. Productivity falls to 2.0 percent per year (the average productivity growth between 1970 and 2009). U.S. labor productivity in 2035 would be $_ per worker. c. How much lager...
[11] If an economy were to pursue a policy of maintaining full employment, it would likely have to forgo: A) price stability. B) full production. C) economic growth. D) maximum current output. [11A] When the inflation rate goes up, the purchasing power of money: A) increases. B) decreases. C) remains unchanged. D) remains unchanged at first and then increases. [11B] An increase in productivity occurs when: A) output per worker increases. B) a nation's rate of inflation falls. C) money...
1) A good measure of the standard of living is A) real GDP per capita B) the real interest rate C) total nominal GDP D) total real GDP. E) nominal GDP per capita 2) If you invest $10,000 in a bond that earns 8% interest per year, how many years will it take to double your money? A) 1 year and 3 months B) 2 years and 6 months C) 5 years and 6 months D) 8 years E) 8...
Suppose labor productivity is $110,000 per worker in 2015. Calculate the value of labor productivity in 2035 (20 years later) if: Instructions: Enter your responses rounded to the closest $100. a. Productivity continues to grow by 2.6 percent per year. U.S labor productivity in 2035 would be $ per worker. b. Productivity falls to 2.0 percent per year (the average productivity growth between 1970 and 2009). U.S. labor productivity in 2035 would be $ per worker. c. How much lager would labor...
Please answer the following questions: QUESTION 1 An increase in a country's saving rate will tend to cause which of the following in the long run? O an increase in the unemployment rate O a reduction in per capita real GDP O an increase in the rate of inflation O an increase in economic growth QUESTION 2 Regarding open economies, economists tend to find evidence that o open economies tend to have access to smaller markets than do closed economies....
Suppose labor productivity is $100,000 per worker in 2015. Calculate the value of labor productivity in 2035 (20 years later): Instructions: Enter your responses rounded to the closest $100. a. Productivity grows by 3.7 percent per year. U.S labor productivity in 2035 would be $ per worker. b. Productivity falls to 1.9 percent per year. U.S. labor productivity in 2035 would be $ per worker. c. How much lager would labor productivity per worker be in 2035 with the higher...
Which of the following explanations is consistent with the decline in productivity growth that followed the Great Recession? Select one: A. High levels of inflation following the Great Recession created too much uncertainty for firms, discouraging productivity-enhancing investments. B. The Federal Reserve kept interest rates too high, stifling investments that would increase productivity. C. Consumer demand following the Great Recession exceeded firms' capacity to satisfy that demand. D. High levels of debt incurred prior to the Great Recession have hindered...
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 of the three measures of inflation measures the average price level of the largest number 19. of goods? a. The CP b. The GDP Deflator c. The Producer Price Index d. The Wholesale Price Index 20. Which of the following is NOT a reason why people save a. To smooth consumption over their lives b. To finance their future retirement c. As a way to transfer income from good times to bad d. To increase investment 21. If the...