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- c. Compare the agricultural employment share and agricultural labor productivity, boththe level and the trend, between the two groups of countries(high-income vs. low-income countries). What can you tell about the differences?d. The theory in Lagakos and Waugh (2013) explains the low agricultural labor productivityin low-income countries with self-selection. Explain the main mechanism of the theory onhow self-selection leads to low agricultural labor productivity in poor countries. (both c and d please)Why does higher worker productivity not necessarily mean GDP per capita will rise? GDP per Capita depends on income, and not on worker productivity. O Workers might choose more leisure time instead of work, keeping total production the same but reducing hours worked. O Higher productivity does not necessarily translate to higher output, since employers may not give salary increases. O Workers might be more productive, but that doesn't mean GDP per Capita will go up unless they work more hours.Differences amongst countries in their standard of living can be attributed to differences in Select one: O a. population size, technology, and productivity. O b. political system, natural resources, and unselfish businesses. O c.skills, physical capital, technology, and institutions. O d. culture, location, education, and work ethic. O e. natural resources, capital, land area, and population size.
- What policies can the government of a free-market economy implement to stimulate economic growth?Why dues productivity growth in high-income economies not slow down as it runs into diminishing returns from additional investments in physical capital and human capital? Does this show one area where the theory of diminishing returns fails to apply? Why or why not?Non-high-income countries are found in O a. In Asia, Western Europe, North America, and Africa O b. It can be found in all parts of the world O c. In Africa, South America, Asia, and Western Europe O d. In Africa, Asia, Eastern Europe, and Latin America O e. In Africa, Latin America, North America, Asia, and Europe
- 15. Suppese that in 1960 Japan had an initial per capita GDP of $12.000 per year and China had a per capita GOP of 55.000. But China is grewing at 5 percent per year and iapan is growing at 3 percent per year. ia richer in 2010 with a per capita GDP of eporoni mately a lapan $5.000 a. China: $73,500 a. lapen: $31,500 . Not enough information is given. e China $5,000QUESTION 20 Which af the fallawing is not an illustration of the notion of opportunity cost O A. The production of more military goods means fewer resources are available for civilian goods. O B. The land a Kansas farmer plants in wheat is not available for corn production. OCIFI buy a pizza, I will not be able to afford a mavie. O D.A growing economy can produce more consumer goods and mare capital goods at the same time. QUESTION 21 The diagram below shows the market for apples. Which of the following events might have caused the shift in the supply curve from S to S2 Pee OA. A sludy showing new health benelits af apples is published in the Washington Past O B. Orchad productivty increases due to a new fertiliser OC Orchard productivity decdines due to draught O D. None af the above QUESTION 22 When we study economics the objective is to learn: O A. how to allocate unlimited resources to satisly unlimited wants O B. how to allocate unlimited resources to satisfy limited uses O C. how…1. According to the preclassical or Physiocratic school (1756–78) and classical economists (1776–1890) typically which of the followings is not one of the three major categories of basic resources essential to the production of goods and services? О а. Сарital O b. Land O c. Labour O d. Entrepreneurship
- Question 30 of 30 Indicate whether each statement is true or false. a. Some entrepreneurs develop new products or ways of doing things. True O False b. All successful entrepreneurs always rely on market research to determine what goods or services will be profitable. O True O False c. Entrepreneurs always earn profits. a ヘ 回节 E 4) 12/15/2021 8:28 PM 46°F 33Productivity refers to the amount of goods and services produced in a certain country. Select one: O a. True. O b. Fales.1. Why doesn’t the rapid growth of China’s economy result in improvements in the lives of all... Description 1. Why doesn’t the rapid growth of China’s economy result in improvements in the lives of all Chinese? 2. What measures might Beijing or the provincial governments take to bring true development to the poor areas? 3. Does the rich East Coast have an obligation to improve the lives of the poor interior? If so, why hasn’t it happened? 4. What is the biggest challenge China faces in lifting its 300 million poor out of poverty?
