Between 2008 and 2016, Russia's real GDP increased by6.7%, its labor force grew by0.5%, and its total capital stock grew by17.5%. Assuming that labor's share of production (and total income) was60%, by how much did total factor productivity
Q: is four The price of Salternative, a salt substitute, falls and we find that the substitution effect…
A: Given The price of Salternative falls so the substitution effect is 4 and the income effect is 5…
Q: What is ppc? (bRIEFLY)
A: The PPF can be used by businesses to determine which products to produce or to understand how…
Q: Which one among these may not be a reason that is often cited as why physician service may not be…
A: Evaluation of costs and benefits is essentially what economic analysis includes. In order to…
Q: Can you explain the Pareto principle
A: There are many economic models that helps in understanding the factors and their behavior in the…
Q: Is there anything more I can add to make this answer worth 8 marks?
A: Investment increases the capital stock, and the amount of capital that is available to an economy is…
Q: "Lemon Laws" in many areas allow purchasers of used cars to return the cars within six months if…
A: Market for lemons is a depiction of asymmetric information scenario at a market place in which…
Q: Using the attached table, the equilibrium price before the tax is imposed is . The equilibrium price…
A: MB, marginal benefit is the additional benefit gained from selling an additional unit. MC, marginal…
Q: 0 1 2 3 4 5 6 Mutiple Choice 0 0 Fish (lbs/day) Point A O Point с Point C B Both points A and B
A: A PPF or production possibility frontier is a graph that shows combination of two goods that can be…
Q: A company produces a special new type of TV. The company has fixed costs of $451,000, and it costs…
A: Here marginal profit is the profit per unit . Profit is the difference between Total revenue and…
Q: Define the following and give specific example for each: (i) Law of large numbers (ii) Actuarially…
A: The law of large numbers (LLN) refers to a theory that explains what happens when you repeat an…
Q: Write the 4 Formulas for Uniform Annuity Series Find F/A Find P/A Find A/P Fina A/F P (Present…
A: Present value refers to the current value of a future sum of money or stream of cash flows given a…
Q: A consumer has a perfect complements utility function, where she prefers to have one unit of H with…
A: When two goods are perfect complements, they are consumed proportionately. The utility that gives…
Q: Which one among these is not a loading factor in case of health insurance? 1.marketing cost…
A: One sort of insurance is known as health insurance, and its purpose is to provide financial…
Q: Why is the existing firm experience will get normal profit in the long run?
A: Only in competitive market frameworks do freedom of entry and exit exist. As both market…
Q: A coal-fired power plant emits sulfur dioxide while producing electricity. If the damage of the…
A: The most well-known and significant example of an external cost, or an unreimbursed expense that an…
Q: You decide to purchase a new home and need a $80,000 mortgage. You take out a loan from the bank…
A:
Q: Part 5: Answer the following questions for each country researched above Country 1: Germany Based on…
A: A developing country is with a less developed base for industry and has a lower Human Development…
Q: Walmart employs the majority of people in small rural town. It's demand for labor is given by…
A: The measure that is known to depict the point at which the quantity demanded of a product in the…
Q: QUESTION 7 Two products are complements if a decrease in the price of one causes an increase in…
A: Find true or false.
Q: .ompute for the effective interest rate per semi-annual Nominal rate = 28.9% compounded semi-annual…
A: Effective Interest Rate = (1+ i/n )n -1 Where , i = interest rate n = Compounding periods Given ,…
Q: sing the table below calculate the cross price elasticity of skirts. Are these goods substitute or…
A: The Cross elasticity of demand measures the quantitative change in the quantity demanded of one good…
Q: uppose in 1981 the retail price of a VCR at Sears was $1, 389.88. What would be he cost of that VCR…
A: The Consumer Price Index refers to an index that measures the overall change in buyer prices based…
Q: Consider the graph showing the production function for coffee houses. The graph shows how output per…
A: Capital is an enormous amount of cash that you use to begin a business, or which you put resources…
Q: Consider the figure to the right. What are the three effects of decreases in the price level, and do…
A: Aggregate demand refers to the total of all planned expenditures in the entire economy. The key word…
Q: QUESTION 6 A price ceiling below the equilibrium price will O Create a surplus. Not affect the…
A: A price ceiling is an upper limit on the price. It is a type of price control.
Q: Use your knowledge of cost functions to calculate the missed cost data in the accompanying table.…
A: Fixed costs are the cost which don't change with the increase in production. marginal cost are the…
Q: Refer to the same table. (The following table lists the per gallon prices of gas and milk for the…
A: Consumer price index is a broad index that estimates price changes in a basket of products and…
Q: The problem A young engineer is considering to built a 1 unit apartment near a commercial center.…
A: A purchase made with the intention of creating income or capital growth is known as an investment.…
Q: Question 2 Table 1 Demand, supply and tax Price (1) 4 6 8 10 12 Quantity demanded 16 12 8 4 0…
A: In this case, demand schedule is given and we have to find out demand and supply curve and also we…
Q: QUESTION 15 Which of the following is likely to have the most price inelastic demand? Coffee. Cars.…
A: Price elasticity of demand refers to the percentage change in quantity demanded due to a percentage…
Q: Suppose we estimate a regression of the gallons of paint sold on the price of each gallon and find…
A:
Q: Consider the following demand and supply schedules and specify the inverse demand and supply…
A: The demand function mathematically can be written as: Q = f(P), then the inverse demand function…
Q: The diagram to the right illustrates the market for outdoor concert tickets in a park in the middle…
A: A cost or benefit that an individual or community experiences but has no control over is referred to…
Q: 2. Assume that a firm has the following production function; q = L0.5K0.5. Its capital is fixed at K…
A: Given that: q= L0.5K0.5, K =1, r =$ 90 and w =$10 Putting the value of K in the production…
Q: 24:48 Saved Turik Electronics manufactures microprocessor-based soft starters that use thyristors…
A:
Q: Justin’s Jeans sells in a perfectly competitive market with a downward-sloping demand curve and an…
A: Here we have perfectly competitive market with the market price is $33 / unit and this firm has…
Q: Consider the macroeconomic model shown below: C = 500+ 0.80Y | = 1,500 G = 1,000 NX = - 100 Y=C+I+G+…
A: The current value of all finished goods and services in the economy is defined as aggregate…
Q: A hotel rents rooms to customers by the night. The hotel determines that if it sets the price of the…
A: The revenue generated by the sale of an additional good or unit is referred to as marginal revenue.…
Q: 1. Imagine a person who wants to find a job within two months. Define X corresponding to the…
A:
Q: The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable…
A: A crucial idea in economics is the concept of cost. It speaks of the sum paid in order to obtain any…
Q: #17 Which point represents a production possibility that is possible but inefficient? O A O Ο H O G…
A: There are two types :- Attainable:- points on the ppf and below ppf Unattainable:- Point beyond…
Q: Economics is the study of how people choose to use their resources to satisfy their unlimited;…
A: According to Lionel Robbins, economics is the study of scarcity. Economics has a lot of definitions…
Q: You enjoy consuming apples (A) and oranges (O). Suppose that your by Your marginal utility function…
A: The consumer will reach at equilibrium when the slope of a budget line is equal to the slope of an…
Q: 2. Assume that a firm has the following production function; q = L0.5K0.5. Its capital is fixed at K…
A: Fixed cost does not change and does not depend on production. Variable cost increases with increase…
Q: d. What is the right compensation? e. The graph below shows Charlie's indifference curves and the…
A: The right amount of compensation would be such an amount that enables the consumer to achieve the…
Q: 9. Suppose there are 2 goods in the economy and the demand function for Good 1 m-3 is xi (m, p₁,P₂)…
A: Given information: The demand function for good 1 is represented by x1m,p=m-3p1if m≥30if m<3…
Q: 1) Describe the factors of production.
A: Factors of production are necessary for producing the goods and services, the different factors of…
Q: Consider two ways to reduce pollution--establishment of taxes on the pollution or the sale of…
A: Although taxes and pollution permits both result in same level of pollution reduction, the…
Q: Consider the macroeconomic model shown below: C = 500+ 0.80Y I = 1,500 G = 1,000 NX = - 100 Y=C+I+G…
A: Macroeconomic model is the model of economics with the larger scale of economic factors , or…
Q: Use the figure below to answer the following question. What is the amount of consumer surplus…
A: Taxes, which can take many different forms, might serve as a barrier to buying a specific good or…
50. Between 2008 and 2016, Russia's real
Step by step
Solved in 2 steps
- An increase in labor productivity means businesses will produce more output with the same amount of labor. ExplainWhich of the following statements about labour productivity (Y/L), also known as the average product of labour are correct? Select one or more: a. A rise in labour productivity must imply job losses b. If Y is fixed A rise in labour productivity must imply job losses c. With a standard production function, if L falls, without any change in technology or capital intensity, labour productivity must rise d. A rise in labour productivity at the same time as a rise in employment is logically impossibleSuppose you are given data on the rate of growth of GDP, capital, and labour, and the share of these two factors in GDP. How would you calculate the contribution of Total Factor Productivity to growth? Explain it verbally and formally.
- Which of the following statements about labour productivity (Y/L), also known as the average product of labour are correct? Select one or more: a. With a standard production function, if L falls, without any change in technology or capital, labour productivity must rise b. A rise in labour productivity at the same time as a rise in employment is logically impossible c. A rise in labour productivity must imply job losses d. If Y is fixed a rise in labour productivity must imply job lossesWhy does an increase in the labor force cause the Market Productivity of Capital to increase?Suppose an economy’s production function is Y = AKαL1−α. If the annual rate of economic growth is 3.5 per cent and labour and capital are both growing by 2 per cent annually, what contribution to growth is made by total factor productivity? You can assume that labour receives 75 per cent of the total income generated in this economy.
- a) Consider an economy in which the labour force grows by 2.7 percent per annum, while the capital stock grows by 4 percent per annum. Suppose 55 percent of national income goes to labour and 45 percent to capital. i. If the residual were R = 0, what rate of growth would the economy achieve? Calculate the value of the residual (R) if the country's actual rate of growth has been 4.5 percent ii. per annum. b) Suppose that a developing economy can be modeled with the Solow growth model. The constant returns to scale production technology is: Y(t) = K(t)“ H(1)* (A(t)L(t))* Where Y(t) is output, K(t) is physical capital, H(t) is human capital, A(t) is the level of technology, and L(t) is labour. The parameters a, º and A are positive and there is perfect competition in the markets for output and the inputs. Assume that during the 2005-2018 period, the country's growth rate averaged 8.5 percent and a recent growth-accounting study showed that the residual accounted for only 1.2 percent of…An article in the Wall Street Journal observes: “For 2008, productivity grew an astounding 2.8% from 2007 even as the economy suffered through its worst recession in decades.” How is it possible for labor productivity to increase if output is falling?Consider an economy at its steady state. Assuming technical progress is growing at rate of 4%, capital stock is growing at 5% and labor share of income is 70%. (a) Find the contribution of capital and labor to output growth. (b) Find the total factor productivity.
- Suppose a country has a population of 120 people, a working-age population of 100 people, its labor force participation rate is 0.5 (50%), and the quantity of output is 60 units. Suppose that the production function of the economy is given by Y=2N, where Y represents the quantity of output and N represents the number of workers needed to produce the output. I know the answer is 0.4 but I don't understand how to get it. Thank you!Why don’t wages measure the full return to labor? Why is human capital the most important factor of production in a modern economy?The following data give real GDP, Y, capital, K, and labor, N, for the U.S. economy in various years. Year Y K N 1970 3460 4400 75 1980 5196 6000 104 1990 7123 7600 119 2000 10,044 10,400 139 2010 11,606 11,600 152 2020 14,961 13,500 173 Assume that the production function is Y= AKO.3 NO.7 Calculate the growth rate of total factor productivity in each decade. Between 1970 and 1980, U.S. total factor productivity grew by 8.82 %. (Enter your answer as a percentage rounded to one decimal place.) Between 1980 and 1990, U.S. total factor productivity grew by ☐ %. (Enter your answer as a percentage rounded to one decimal place.)