12. Based on the aggregate production function model, we can be certain output will increase if a. the total factor productivity increases while the amount of labor and physical capital stock of the country remain constant. b. the physical capital stock of the country decreases, the total factor productivity remains constant, and the amount of labor increases. c. the amount of labor increases while the total factor productivity and physical capital stock of the nation decrease. d. the total factor productivity and amount of labor increase while the physical capital stock of the

12. Based on the aggregate production function model, we can be certain output will increase if a. the total factor productivity increases while the amount of labor and physical capital stock of the country remain constant. b. the physical capital stock of the country decreases, the total factor productivity remains constant, and the amount of labor increases. c. the amount of labor increases while the total factor productivity and physical capital stock of the nation decrease. d. the total factor productivity and amount of labor increase while the physical capital stock of the

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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12. A typical family in the United States in 1900 had a purchasing power equal to the real U.S. GDP per capita in 2015. a. 1 b. 12 c. 70 d. 136 % of 13. Education's effect on productivity: a. is believed to be less important than the amount of physical capital a worker has available. b. is even more important than increases in physical capital. c. has fallen in the past century in the United States. d. depends on the wealth of the country.
1 An increase in Real GDP: a. is absolute economic growth b. C. always results in a higher standard of living Both of the above O d. Neither of the above
s Tips ; Tips T Complete the table by calculating physical capital per worker as well as labor productivity. Hint: Recall that productivity is defined as the amount of goods and services a worker can produce per hour. In this problem, measure productivity as the quantity of goods per hour of labor. Year 2039 2040 Physical Capital (Printing presses) 200 480 Based on your calculations, productivity from 2039 to 2040. Labor Force (Workers) 100 120 Physical Capital per Worker (Printing presses) Labor Hours (Hours) 4,500 4,200 Output (Books) 40,500 75,600 in physical capital per worker from 2039 to 2040 is associated with Suppose you're in charge of establishing economic policy for this small island country. Which of the following policies would lead to greater productivity in the publishing industry? Check all that apply. Labor Productivity (Books per hour of labor) Subsidizing research and development into new publishing technologies Offering free public education to every worker in the…
1 Which one of the following is not a supply factor in economic growth? a) Consumption spending b) Natural resources c) Labour d) Capital
please answer part 3
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5. Total factor productivity Aa Aa Suppose that output growth in Arcadia is 1% per year, the growth rate of capital is 2%, and the growth rate of labor is 1.5%. Assuming that x = 0.3, the growth rate of total factor productivity in Arcadia is Which of the following facts about the total factor productivity in the United States are true? Check all that apply. Changes in the growth rates of capital and labor have relatively little impact on output growth. Changes in productivity may be the major factor affecting output growth. Changes in the growth rates of capital and labor are the major factors affecting output growth. Changes in productivity have relatively little impact on output growth.
Which of these is not an example of disintegration of production process? a. US importing Haas Avocados from Mexico b. US importing airplane engine from Mexico c. US importing car seats from Canada. d. US importing microchips from Taiwan.
20) One of the key factors that determine an economy's real GDP is labor productivity, which is a meaare e a. input per hour of work. C. output per hour. b. labor force per hour. d. total hours worked.
10. Labour-saving technical progress means a) that marginal productivity of capital increases. b) that marginal productivity of labour increases. c) that marginal productivity of both inputs increases. d) None of the above is correct. CHOOSE ONE ANSWER ONLY.
The United States currently is O A. a net borrower and has been since the end of World War II in 1945. B. a net lender and has been since the 1980s. C. a net lender and has been since the end of World War II in 1945. D. a net borrower and has been since the 1980s. O E. neither a net lender nor a net borrower.
A productivity increase is illustrated by a shift in the production function a. upward. b. rightward. c. downward. d. leftward.