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- In the period of 1950-1973 the GDP average growth rate reached 9.3 % in Japan and approximately 4 % in USA. How this huge difference may be explained? Your arguments must be based on the growth theory and on the levels of GDP per capita both in Japan and USA in 1950 shown in the Madison table.a) Prepare a table and line graph showing the unemployment and economic growth rate for a Caribbean country and a developed country (other than the US) for the last 5 years. Examine the relationship observed between the two countries. b) Identify THREE public policies that can stimulate employment and facilitate economic growth in an economy. Use examples to clearly illustrate how EACH policy can stimulate employment and facilitate economic growth in your country. (Max 750 words)THREE reasons why a country economy is not productive and there is no economic growth. Ensure that you provide a relevant real-world example
- East Asian countries grew at fast rates because they save and invest an unusually high percentage of their GDP. They started off as poor relative to their steady state They use their resources efficiently. They have stable property rights. All of the above. Which of the following statements best describes the rate of growth in productivity (TFP) in the United States since 1950? Productivity growth has been steady. Productivity has been growing more slowly every decade. Productivity grew quickly in the 1950s and 1960s, more slowly from the early 1970s through 1995, and then quickly again with a slowdown in recent years. Productivity grew slowly from the 1950s through the 1970s, and then began to accelerate, probably due to advances in computer technology. Productivity has been growing more quickly every decade since World War II Suppose that the money supply will grow by 20% in Argentina over the next 10 years. Velocity is constant. Real income will grow at 3%. The inflation…Assessing the Role of Technological Innovation: In the "Schumpeterian model" of economic growth, what role does "creative destruction" play? A) It refers to the gradual improvement of existing technologies without disrupting existing industries. B) It describes the process by which new innovations replace outdated technologies and business models, leading to economic progress and increased productivity. C) It suggests that technological innovation has a negative impact on long-term economic growth. D) It highlights the stability and persistence of established firms in the face of innovation.Explain the different ways in which inequality can affect growth. Highlight any existing empirical evidence that you find interesting. Why?
- Suppose the u.s. nominal GDP increases from one year to the next year. Can you conclude that these figures present a misleading measure of economic growth?Economic growth around the world The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's average annual growth rate during this period. For example, real income per person in Niger was $945 in 1960, and it actually declined to $570 by 2010. Niger's average annual growth rate during this period was -1.01%, and it was the poorest economy in the table in the year 2010. The real income-per-person figures are denominated in U.S. dollars with a base year of 2005. The following exercises will help you to understand the different growth experiences of these economies. Economy Real Income per Person in 1960 Real Income per Person in 2010 Annual Growth Rate (Dollars) (Dollars) (Percent) Canada 12,946 35,810 2.06 United Kingdom 11,884 32,034 2.00 Korea 1,610 28,702 5.93 Hong Kong 4,518 44,070 4.66 Guatemala 1,985 3,859 1.34 Niger 945 570 -1.01 Indicate which economy…Of the following, which is a way that government can create a healthy climate for economic growth? Group of answer choices by instituting policies that discourage a competitive market by creating policies that encourage lifelong education by setting higher taxes by discouraging public sector investment in new technologies
- I am having a problem with these four problems webdav/pid-1221589-dt-content-rid-8618514_1/courses/1678.201780/Assign2.pdf + Automatic Zoom : 19. Technological progress helps increase the productivity of labor, defined as the number of units of output produced per hour of labor. A rise in the productivity of labor in the production process, ceteris paribus, will cause A) the demand for the output to increase. B) the demand for the output to decrease. C) the supply of the output to increase. D) the supply of the output to decrease. E) None of the above is correct. Q Search 20. An economic recession with a decline in household incomes will negatively impact all retail businesses. A) True B) False 21. If we assume that the current equilibrium wage for low-skilled labor is $8 per hour and the minimum wage is increased from $5.75 to $7.25 per hour, then A) unemployment among low-skilled workers will increase. B) unemployment among low-skilled workers will remain unaffected. C) unemployment…Economic growth theories have discussed growth factors from various perspectives. Critically discuss the similarities and differences in growth factors based on Adam Smith's, David Ricardo's, and Harrod-Domar's theories.Describe Factors that may hinder economic growth
