Homework Answers
Correct option is (1).
An increase in physical capital increases productivity, which shifts the productivity curve upward, which is evident from movement from B to C.
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Real GDP per worker constant dollars) $123 50,000 . ..... Provy techogy 2.000 6 ther factors remaining chaped), ES...
Real GDP per worker constant dollars) $123 50,000 . ..... Provy techogy 2.000 6 ther factors...
Real GDP per worker constant dollars) $123 50,000 . ..... Provy techogy 2.000 6 ther factors remaining chaped), EST indicated by 0 10 20 30 40 0 0 00 00 Physical capital per worker (2000 dollars] Use Figure above Technological Progress and Productivity Growth. If there is an increase in physical capital per worker ( a move from: 8 to toA Cto 8. O Atoa.
Macroeconomics: 2. Figure: Technological Progress and Productivity Growth Real GDP per worker (constant dollars) Productivity using...
Macroeconomics:
2. Figure: Technological Progress and Productivity Growth Real GDP per worker (constant dollars) Productivity using 2010 technology $120,000 90,000 В Productivity 60,000 using 1940 technology 30,000 0 10 20 30 40 50 60 70 80 90 100 Physical capital per worker (2000 dollars) Use Figure: Technological Progress and Productivity Growth. If there is a significant increase in human capital per worker (all other factors remaining unchanged), it is BEST indicated by a move from: O A to B. O...
Select all of the true statements about increases in physical capital per worker. If real GDP...
Select all of the true statements about increases in physical capital per worker. If real GDP is below potential GDP, an increase in physical capital per worker will correct the problem Increases in physical capital per worker will generally increase labor productivity Technological advancements increase physical capital per worker The U.S. economy has struggled because physical capital has not grown as fast as the population. On the graph, demonstrate the effects of a significant increase in physical capital per worker....
1) A good measure of the standard of living is A) real GDP per capita B)...
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...
1. Consider the case where real GDP and population are both growing, and real GDP is growing...
1. Consider the case where real GDP and population are both growing, and real GDP is growing faster than population. Which statement below is TRUE? A Real GDP per capita would increase and faster than real GDP. B Real GDP per capita would increase but slower than real GDP. C Real GDP per capita would remain the same. D Real GDP per capita would fall. Questions 2 and 3. Both Cowen and Tabarrok (Figure 7.1) and the Hans Rosling video illustrate the robust empirical truth that the...
1. Suppose that in 2016 real GDP per person in Greenfield was $35,215. In 2015, real...
1. Suppose that in 2016 real GDP per person in Greenfield was $35,215. In 2015, real GDP per person in Greenfield was $34,560. What was the growth rate of real GDP per person in Greenfield for 2016? A. less than 2.0 percent B. more than 2.0 percent but less than 2.3 percent C more than 2.3 percent but less than 2.6 percent D. more than 2.6 percent but less than 2.9 percent E. more than 2.9 percent 2. Which of...
When real GDP grows more slowly than potential GDP, a. nominal GDP rises. b. the unemployment...
When real GDP grows more slowly than potential GDP, a. nominal GDP rises. b. the unemployment rate falls. c. labor productivity falls. d. the unemployment rate rises. 8. The unemployment rate is the number of unemployed people, expressed as a. a ratio of total employed to the population. b. a ratio of unemployed to the total employed. c. a percentage of the labor force. d. a percentage of the population. 9. If part of the labor force is unemployed, the...
19. Suppose an island economy's real GDP is $10,000 in 2008 and 512,000 in 2018. The...
19. Suppose an island economy's real GDP is $10,000 in 2008 and 512,000 in 2018. The population is 100 people in 2008 and 110 people in 2018. Show work a. What is the growth rate of real GDP? b. What is the growth rate of real GDP per capita? 20. How many years would it take for real GDP to double if its growth rate is 2962 21. The quantity of goods and services that can be produced by one...
8:18 .. . < Back Chapter 11.docx ECO 2013 Homework Chapter 11 Real GDP per hour...
8:18 .. . < Back Chapter 11.docx ECO 2013 Homework Chapter 11 Real GDP per hour worked, YIL $17.000 16,400 16.000 Production function Production function2 Production function 15,000 $50,000 60,000 70.000 Capital per hour worked, KL Figure 1 1) Refer to Figure 1. Suppose the economy gains more capital per hour worked and experiences technological change. This is shown in the figure above by the movement from A) E to B to D. B) A to B to C. C)...
3. Which of the following transactions will be included in the U.S. GDP? If the transaction is included, identify i...
3. Which of the following transactions will be included in the U.S. GDP? If the transaction is included, identify into which category it fits. If the transaction is NOT included, tell why not. Fill in the blanks: yes or no? a. Nissan builds a new automobile plant in the U.S b. Delta Airlines sells one of its existing jets to Southwest. c. Ms. Moneybags buys existing shares of GM stock d. A California winery produces a case of Merlot and...
Real GDP per worker constant dollars) $123 50,000 . ..... Provy techogy 2.000 6 ther factors remaining chaped), EST indicated by 0 10 20 30 40 0 0 00 00 Physical capital per worker (2000 dollars] Use Figure above Technological Progress and Productivity Growth. If there is an increase in physical capital per worker ( a move from: 8 to toA Cto 8. O Atoa.
Macroeconomics:
2. Figure: Technological Progress and Productivity Growth Real GDP per worker (constant dollars) Productivity using 2010 technology $120,000 90,000 В Productivity 60,000 using 1940 technology 30,000 0 10 20 30 40 50 60 70 80 90 100 Physical capital per worker (2000 dollars) Use Figure: Technological Progress and Productivity Growth. If there is a significant increase in human capital per worker (all other factors remaining unchanged), it is BEST indicated by a move from: O A to B. O...
Select all of the true statements about increases in physical capital per worker. If real GDP is below potential GDP, an increase in physical capital per worker will correct the problem Increases in physical capital per worker will generally increase labor productivity Technological advancements increase physical capital per worker The U.S. economy has struggled because physical capital has not grown as fast as the population. On the graph, demonstrate the effects of a significant increase in physical capital per worker....
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...
19. Suppose an island economy's real GDP is $10,000 in 2008 and 512,000 in 2018. The population is 100 people in 2008 and 110 people in 2018. Show work a. What is the growth rate of real GDP? b. What is the growth rate of real GDP per capita? 20. How many years would it take for real GDP to double if its growth rate is 2962 21. The quantity of goods and services that can be produced by one...
8:18 .. . < Back Chapter 11.docx ECO 2013 Homework Chapter 11 Real GDP per hour worked, YIL $17.000 16,400 16.000 Production function Production function2 Production function 15,000 $50,000 60,000 70.000 Capital per hour worked, KL Figure 1 1) Refer to Figure 1. Suppose the economy gains more capital per hour worked and experiences technological change. This is shown in the figure above by the movement from A) E to B to D. B) A to B to C. C)...
3. Which of the following transactions will be included in the U.S. GDP? If the transaction is included, identify into which category it fits. If the transaction is NOT included, tell why not. Fill in the blanks: yes or no? a. Nissan builds a new automobile plant in the U.S b. Delta Airlines sells one of its existing jets to Southwest. c. Ms. Moneybags buys existing shares of GM stock d. A California winery produces a case of Merlot and...
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