Between 2012 and 2022, the nominal GDP of Wonderland grew, on average, by 7% per year while her GDP deflator increased by 6% per year. She recorded an average labour growth rate of 3% per annum. During this period, the Gini-coefficient changed from 0.445 to 0.412. Regarding the above period, what can you say about the changes in the overall economic performance of Wonderland, including her output level, labour productivity and income distribution? Briefly explain your answers

Q: iii) A new technological innovation  (iv) The government invests in a new entrepreneurship training…

A: The production-function is function of labour(L) and capital (K). the curve is concave-shaped with…

Q: Which of the following does NOT influence growth of labor productivity? discovery of new…

A: Labor productivity refers to the productivity or total output produced by the labor employed.  Labor…

Q: Economics Consider an economy whose capital stock K grows at 2.3 % per year and whose labor force L…

A: Capital stock (K) growth rate = 2.3% per year Labor force (L) growth rate = 0.9% per year and…

Q: Assume that the per-worker production function is yt = 2kt^(0.3). The saving, depreciation and…

A: Solving for Steady State in the Solow ModelWe can solve for the steady state in this Solow growth…

Q: Consider the production function Y₁ = A₂K¹/21/2where A is total factor productivity (TFP), Lt is the…

A: Production function Y = AK1/2L1/2  Where A is the total factor productivity L is the labor force K…

Q: Labor productivity on the ABC assembly line was 22 units per hour in 2008. In 2009, labor…

A: Labor productivity on the ABC assembly line was 22 units per hour in 2008. In 2009, labor…

Q: Suppose that the production function for an economy is given by Y = F(K, L) = AK/B[2/3 %3D Where Y…

A: The production function depicts the relationship between input and the output.

Q: The real GDP in the second quarter of 2019 was found to be $500,000 and the number of hours worked…

A: Real GDP in 2019 = $500,000 Labor hired in 2019 = 5,000 Labor productivity in 2019 will be given as…

Q: Consider an economy with the following parameters: Cx=0.5 s=0.4, savings/investment rate d=0.04,…

A:

Q: Consider a closed economy with the following production function. Y=K0.SN0.5. Let the evolution of…

A: Ghd

Q: Explain why there is such a close relationship between changes in a nation’s rate of productivity…

A: ANS Purchasing power (PP) of wage (income) is the amount of services & goods that can be…

Q: From 2010 to 2020, Benin recorded an average economic growth rate of 4% and average labour growth…

A: The Gini coefficient gets used to measure the extent of inequality in an economy by comparing the…

Q: Consider a hypothetical small island nation in which the only industry is cloud computing. The…

A: Production function:Production is a function of land labor capital and entrepreneurship. It includes…

Q: Following Great Recession also known as the Housing Market Bust, many countries, including the…

A: A housing bubble, or real estate bubble, is a run-up in housing prices fueled by demand, Speculah,…

Q: In the mid-1990s, it appeared that productivity growth increased substantially in the U. S, economy.…

A: The economy of the United States of America (US) experienced around 25 years of sluggish gains…

Q: Relative to productivity growth in the United States, which of the following countries experienced…

A: Productivity growth can be defined as a rise in the value of outputs produced for a given input…

Q: Write the production function (human capital (H) is included in TFP) and the logarithmic form of…

A: Total production function shows the how each inputs determine the total output For example,…

Q: The GDP per capita (labor) in the US is 2.95 times of that in Mexico. Also it is found that the…

A: Following inputs are given in the question: GDP Per Capita (labor) US /                   = 2.95 GDP…

Q: Given the production function is Y, = ĀK} L}. а. Express the growth rate of per capita GDP as a…

A: The production function for the economy is given as follows:

Q: Assume that you know that there are only two factors, capital and labour, and that aggregate capital…

A: Total output growth depends upon three important factors  Labour  Capital  Technological…

Q: could someone answer this for me?

A: The income tax is a fiscal policy which deals with the income and expenditure of the government.…

Q: Which of the following is an appropriate solution to the problem of slow real income growth among…

A: Real Income: the income of an individual or a group which come after adjusting the inflation is…

Q: Suppose that the per-worker production (labour productivity) function in South Korea is Y over L…

A: Given information: Suppose that the per-worker production (labour productivity) function in South…

Q: Real GDP per capita is 49,773 (measured in constant 2017 International Dollar, same for the…

A: The objective of the question is to decompose the differences in real GDP per capita between Canada…

Q: Suppose the production function for new technology is Α ▲A¿ = A¿ºÑд” where 0<µ≤1, A¿ is the stock of…

A: Technology's role in the production function underscores the influence of advancements of…

Q: 12. If the Real GDP for year 1 was $ 57,900 and for year 2 it was $ 60,000, determine the percentage…

A: Economic growth can be defined as the increase or improvement in the inflation-adjusted market value…

Q: Suppose France has a per capita GDP that is 0.7 times the United States GDP. It has a…

A: Productivity: It refers to the production of good and services according to the inputs and output…

Q: Use the framework of the Romer model and the following parameters to determine the growth rate of…

A: Romer took three vital components in his model, in particular externalities, expanding returns in…

Q: The production function used by the Australian Bureau of Statistics is written Y = AK L rY where Y…

A: The production function is given as- Y = AKαLβIγ                   ...(1a) Where Y is aggregate…

Q: Consider the economies of Sporon and Gobbledigook, both of which produce gobs of goo using only…

A: Two Economies: Sporon and Gobbledigook One good: Gobs of Goo Two Factors of Production: Physical…

Q: Suppose you have a pizza shop. Your rent is $800 and you've spent $1950 on labor and materials to…

A: Given:  Cost of Rent = $800 Cost of Labor &amp; raw material to make pizza= $1950

Q: Consider the economies of Hermes and Tralfamadore, both of which produce gobs of goo using only…

A: The ratio that depicts the volume of input being used and the volume of output being produced is…

Q: Given a production function Y, - AK, (a) Calculate the steady-state level of capital and output. (b)…

A: We are given :  Yt = A¯ Kt1/3 L2/3  -- (1) We are also given : A =2 , L= 4,   Hence we have:  Yt =…

Q: uppose the u.s. nominal GDP increases from one year to the next year. Can you conclude that these…

A: The nominal GDP is the measure of GDP which is being calculated by multiplying the current year…

Q: From 2009 to 2019, Country X recorded an annual economic growth rate of 5% and an annual labour…

A: Annul economic growth rate 5% and annual labour growth rate of 3% is indicting that economy's output…

Q: Determine which of the following statement about economic growth and labour productivity is true or…

A: Economic growth and labor productivity has very close relationship as improved labor productivity…