increases in total factor productivity (TFP) can generate sustained increases in per capita output growth because increasing a) TFP lowers the capital stock b) TFP lowers human capital   c) TFP increases the population   d) TFP does not cause diminishing returns

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: Determine whether each of the following statements about human resources and economic growth in…

A: Economic growth is an increase in the production of goods and services in an economy. Increases in…

Q: Which of the following are possible outcomes of rapid population growth? A reduction in capital per…

A: Population growth refers to the expansion in the quantity of individuals inside a population…

Q: Compared to other economies, productivity growth contributes more to economic growth in developing…

A: In economics, productivity growth refers to the improvement in the current or existing technology,…

Q: Explain how to derive the investment per efficiency unit of labour curve in the Solow growth model.

A: Suppose the production function is given by, Y=F(K,gL) g  is the efficiency of labor. The savings…

Q: Explain in detail any ONE (1) measure to correct deficit in Balance of Payment (BOP).

A: The balance of payments (BOP), sometimes known as the balance of international payments, is a…

Q: Which best describes economic growth? a) increase in labor force participation rate b) a decrease…

A: When real GDP increases for longer time.It best describes economic growth.

Q: In the endogenous growth model, a) the growth rate of human capital is equal to the growth rate of…

A: The endogenous growth model posits that the accumulation and enhancement of human capital are the…

Q: Determine the effects of a decrease in the population growth rate on the golden rule quantity of…

A: During an economic cycle, the government should borrow solely to invest, not to fund current…

Q: Education seems to be important for human capital deepening and thus economic growth. As people…

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Q: What happens in the steady state to the capital-labor ratio, output per worker, and consumption per…

A: What is steady state - A balanced structure between population growth and productivity and use of…

Q: Which of the following is NOT considered a factor contributing to economic growth? a) Investment in…

A: Increase in government regulation is NOT considered a factor contributing to economic growth. This…

Q: In the endogenous growth model, a) the growth rate of human capital is equal to the growth rate of…

A: The objective of the question is to understand the relationship between the growth rate of human…

Q: 5) Foreign aid has proven to be ineffective in igniting economic growth mainly because: a) It does…

A: Foreign aid refers to financial assistance provided by one country to another for various purposes,…

Q: Discuss three (3) negative consequences of population growth.

A: Population growth is the process of increasing the number of people or individuals in a geographic…

Q: With reference to a Cobb-Douglas production function, if a country has a declining labor share that…

A: Cobb-Douglas Production Function Cobb-Douglas production function Shows the relationship of the…

Q: An underdeveloped country is a country characterized by chronic widespread poverty and less economic…

A: Absolute poverty refers to a condition where individuals or communities lack the basic necessities…

Q: The figure shows the relationship between the Gini coefficient and annual average GDP per capita…

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Q: Countries with a_reliance on exports is likely to show a correlation of export growth to equity…

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Q: Which of the following policies should the government NOT adopt if its goal is to enhance economic…

A: When talking about economic growth, it can be said that it is explained by an increase in the…

Q: To increase productivity the most a) the skilled educated labor force must grow faster than capital…

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Q: he country of Swan is very wealthy, with a high level of per capita income and capital. The country…

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Q: The government can achieve permanent higher growth rates by having two determinants of growth. The…

A: There are two determinants that can achieve permanent and higher economic growth. Capital…

Q: An underdeveloped country is a country characterized by chronic widespread poverty and less economic…

A: A country is said to be underpopulated when it has insufficient or very small population.

Q: Explain the characteristics of knowledge and its effects on economic growth by comparing Labor and…

A: Human capital: - it is an asset in the form of the efficiency of a worker which is related to the…

Q: A key assumption in an endogenous growth model with both labour and capital inputs in the production…

A: Economic theory known as endogenous growth theory states that an economys  internal processes are…

Q: Assume that capital share is 35%. GDP in country A grew at the rate of 3.5% per year. Capital grew…

A: Total factor productivity is given as the measure of the effectiveness of the economy in using all…

Q: Average labour productivity is presently higher in Australia than it is in China yet during the…

A: The productivity of labor is the number of products produced in a specified period of time by…

Q: All of the below are important determinants for the economic growth and development of nations,…

A: Int he book 'Naked Economics', Wheelan covered various basic economic concept of macroeconomics that…

Q: Economists differ in their views of the role of the government in promoting economic growth. At the…

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Q: TRUE OR FALSE? The new growth theory emphasized the role of human capital development. The two…

A: When talking about new growth theory, it explains the role of various economic variables that…

Q: Explain how institutional factors promote economic growth in these areas:  promotion of modern…

A: Economic growth is an increase in the production of economic services and goods being compared from…

Q: how does endogenous growth theory explain economic growth

A: Neoclassical growth model: - Neoclassical growth model was first given by Robert Solow and Trevor…

Q: If the population growth rate increases, what might happen to the steady-state level of capital per…

A: Answer: (1) Capital per worker will decrease to a lower steady-state. Explanation: If the population…

Q: Which is NOT a source of productivity growth?

A: Firms try to increase productivity with various method.

Q: explains the relationship between the supply of savings and the demand for capital investment for…

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Q: Discuss population growth, resource consumption, and their consequences

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Q: An underdeveloped country is a country characterized by chronic widespread poverty and less economic…

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Q: The development model of public sector growth focuses more on economic choice and less on exogenous…

A: Exogenous choices are the choices that influences externally on the identity of a place.

Q: is it true or false that the growth rate of the GDP per worker for an economy where the capital to…

A: The quantity of capital required to create one unit of output is referred to as the capital output…

Q: Justify the statement. T/F  Economist does not consider the non monetary measures in evaluating the…

A: Introduction Non-monetary measures are indicators of economic development which are not related to…