8. Under a Malthusian paradigm, why do wars, pandemics, and famines cause a tem-porary increase in per-capita wealth?(A) The corporations associated with weapons, pharmaceuticals, and agriculture profit,thus increasing economic growth.(B) The available resources are shared between fewer individuals, since many havedied.(C) The available resources increase in price, since demand rises.(D) Per-capita wealth never rises under a Malthusian paradigm.The next four questions involve the following situation: Consider an economywith only two products: guns and butter. There is no international trade and no gov-ernment. The following table shows production and prices in 2019 and 2020. Use 2019as the base year for any relevant calculations.YearGoodPrice per unitProduction (units)$1,000$1002019Guns10,0002019Butter5,00020,0005,0002020Guns$5002020Butter$2009. What is nominal GDP in 2019?(A) $10,000,000.(B) $20,500,000.(C) $11,000,000.(D) $10,500,000.10. What is nominal GDP in 2020?(A) $10,000,000.(B) $20,500,000.(C) $11,000,000.(D) $10,500,000.

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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_____ would most likely result in the economic growth of a nation. A. A decrease in the productivity of labor B. A decrease in the supply of labor due to emigration C. A decrease in the stock of physical capital D. An increase in the rate of growth of population E. An increase in the productivity of labor
The Rule of 70 is used to Select one: A. calculate the standard of living. B. estimate how much of an economy's growth rate is attributable to increases in capital per hour of labour. C. estimate how much of an economy's growth rate is attributable to technological advance. D. estimate how long it will take the level of any variable to double. O E. calculate the economy's growth rate.
4. The country of Androde is currently using Method for its production function. By chance, scientists stumble onto a technological breakthrough that will enhance Androde's productivity. This technologi- cal breakthrough is reflected in another production function, Method 2. The accompanying table shows combinations of physical capital per worker and output per worker for both methods, assuming that human capital per worker is fixed. Method 1 Physical capital Real GDP per worker per worker 0 0.00 35.36 50.00 61.24 70.71 79.06 86.60 93.54 100.00 106.07 111.80 50 100 150 200 250 300 350 400 450 500 Method 2 Physical capital per worker 0 50 100 150 200 250 300 350 400 450 500 Real GDP per worker 0.00 70.71 100.00 122.47 141.42 158.11 173.21 187.08 200.00 212.13 223.61 a. Using the data in the accompanying table, draw the two production functions in one diagram. Androde's current amount of physical capital per worker is 100. In your figure, label that point A. b. Starting from point A,…
1. Assume that there are two countries with the following characteristics. Per capita Output Y = A.kª.h¹-a A-technology k-per capita physical capital h-per capita human capital a-0.6 Country A with $500 per capita income saves 25% of its output and invests on physical capital, and 25% on investing in human capital. Country B with $5000 per capita income saves 25% of its output and invests on physical capital, and 35% on investing in human capital. a. What are the growth rates of the two countries? b. What will be the per capita income levels after 5 years? c. Will there be convergence on the per capita income in the future?
A) Which of the diagrams above best explains improved technology in the production of cars? B) Which of the diagrams above best explains improved technology in the harvesting of grapes? C) Which of the diagrams above best explains overall improvements in productivity?
If X grows at a rate of 9% a year, and Y grows at a rate of 14 percent per year, what is the growth rate of X/Y? a. 23% b. -5% c. 5% d. (9/14) % A nation’s population is growing 5% per year, and its total GDP is growing 1% per year. What is the annual rate of growth of GDP per capita? Feel free to round to the nearest percentage point:.
which one(s) is true (a) If an economy can raise its annual real GDP growth rate from 3.8 percent to 4.5 percent, its real GDP doubling time is reduced by 15 years. (b) Suppose that the government passes a law requiring households to increase savings 10% above previous levels. According to Solow's growth theory, in the long run output per capita will grow less rapidly. (c) If an economy has a real GDP doubling-time of 48 years, this will be increased to 56 years if annual GDP growth is reduced by 3.2 percentage points. (d) If K = 3000, n = 0.02, and depreciation, δ= 0.04 and g =0.03, then investment of 320 will hold (K/AL) constant.
QUESTION 1 1.1 Entrepreneurial activities may be harmful to economic growth in economies that are passing through the early to middle stage of development as many people would be moving from self-employment to waged employment. Critically discuss this statement on the nexus between entrepreneurship and economic growth as per the literature. 1.2 Using Table 5, discuss the study’s findings for the BRICS countries. 1.3 Given the study’s focus on emerging economies, examine the study’s policy implications for the BRICS countries.
4. You have been hired to forecast future population level for a small country. You know that this country currently has 15 million citizens and wishes to achieve a population level twice the current population, 50 years from now. (a) What population growth rate must it maintain in order to achieve this goal? (b) What if this country chooses a goal of 36 million people? What population growth rate would that require?
1. Differentiate economic growth and economic development? Economic growth Economic development 2. How do we measure economic growth/development? Enumerate and explain each tools and models. 3. Is economic development a branch of economics? Yes or no? Explain your answer.
QUESTION 28 1. Production Possibilities (alternatives) A B с D Capital goods Consumer goods E 5 0 F 4 5 3 2 9 Is unobtainable in this economy 1 0 12 14 15 Refer to the above table. A total output of 3 units of capital and 4 units of consumer goods: Would involve an inefficient use of the economy's scarce resources Will result in the maximum rate of growth available to this economy Is irrelevant because the economy is capable of producing a larger total output
S1: Rapid population growth does not necessarily reflect market failure. S2: Urbanization and localized economies lead to resource immobility. A. True, True B. True, False C. False, True D. False, False

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