(1j) According to growth accounting studies, investing in research and educationdoes not achieve as much growth as technology improvement would.is less effective than on the job training.is the best way to achieve greater technological progress.(my guess) (1k) When an outcome at the macroeconomic level is different from the outcome at the microeconomic level it is know as amacroeconomic externality. (my guess)cost productionmicroeconomic externality.(1l) Important sources that influence a nation’s economic growth in the long run includea zero rate of population growth.low college graduation rates.a high rate of labor force growth. (my guess)(1m) An economy is considered to be in an expansion ifreal GDP has increased for two consecutive quarters.(my guess)it is moving from the trough to the peak of the business cycle.it is moving from the peak toward the trough of the business cycle.(1n) The country of Wakanda has an economy that will double in 10 years. According to what you’ve learned about compound growth, what type of economy does Wakanda have?Wakanda has an economic growth rate of under 5% per year.Wakanda has a slow growing economy at a growth rate of 7% per year.Wakanda has a thriving and rapidly growing economy growing over 7% per year. (my guess)

Investing in research and education can have numerous benefits, both for individuals and for society as a whole. Here are some of the reasons why: Advancing knowledge Improving education. Stimulating economic growth Improving health outcomes Enhancing social and cultural understanding Advancement in technology 1j. In research and education, the employees make new technological development for the company which is not available in other companies. In this way, the companies get an exclusive advantage that helps to produce more goods to make additional profits. Thus, option '3' is correct

Answered: According to growth accounting studies,…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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(1j) According to growth accounting studies, investing in research and education

does not achieve as much growth as technology improvement would.
is less effective than on the job training.
is the best way to achieve greater technological progress.(my guess)

(1k) When an outcome at the macroeconomic level is different from the outcome at the microeconomic level it is know as a

macroeconomic externality. (my guess)
cost production
microeconomic externality.

(1l) Important sources that influence a nation’s economic growth in the long run include

a zero rate of population growth.
low college graduation rates.
a high rate of labor force growth. (my guess)

(1m) An economy is considered to be in an expansion if

real GDP has increased for two consecutive quarters.(my guess)
it is moving from the trough to the peak of the business cycle.
it is moving from the peak toward the trough of the business cycle.

(1n) The country of Wakanda has an economy that will double in 10 years. According to what you’ve learned about compound growth, what type of economy does Wakanda have?

Wakanda has an economic growth rate of under 5% per year.
Wakanda has a slow growing economy at a growth rate of 7% per year.
Wakanda has a thriving and rapidly growing economy growing over 7% per year. (my guess)

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