Productivity varies across countries because of differences in (Check all that apply) O A. physical capital. B. technology I C. income. D. human capital. DE. GDP Human capital is Physical capital is any good, including machines and buildings used for producuon Technology is each person's stock of skills to produce output or economic value the ability to use labor and capital more efficiently

Productivity varies across countries because of differences in (Check all that apply) O A. physical capital. B. technology I C. income. D. human capital. DE. GDP Human capital is Physical capital is any good, including machines and buildings used for producuon Technology is each person's stock of skills to produce output or economic value the ability to use labor and capital more efficiently

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter3: Scarcity, Trade-offs, And Production Possibilities

Section: Chapter Questions

Problem 10P

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An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it grows at an annual rate of 2 for 20 years? 2 for 40 years? 4 for 40 years? 6 for 40 years?
Say that the average worker in the U.S. economy is eight times as productive as an average worker in Mexico. If the productivity of U.S. workers grows at 2 for 25 years and the productivity of Mexicos workers grows at 6 for 25 years, which country will have higher worker productivity at that point?
In 1980, Denmark had a GDP of 70 billion (measured in U.S. dollars} and a population of 5.1 million. In 2000, Denmark had 3 GDP of 160 billion (measured in U.S. dollars} and a population of 5.3 million. By what percentage did Denmarks GDP per capita rise between 1980 and 2000?
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What were the sources of labor productivity growth in the U.S. economy during the sixty years since 1960? How did the 1960s differ from the more recent decades? During the sixty years since 1960, the sources of labor productivity growth include O A. plastics, the laser, and the computer during the 1960s, and the Internet during later years O B. the focus on saving energy during the 1970s O C. the wide-spread introduction of the Internet during the 1970s O D. the global financial turmoil of 2008-2009 that made labor more productive Comparing the 1960s to the more recent decades, labor productivity growth than in subsequent decades. O A. in the 1960s was approximately 25 percent higher O B. in the 1960s was smaller C. due to technological change was smaller in the 1960s O D. due to physical capital and human capital growth was greater in the 1960s Click to select your answer. MacBook A
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My courses / ECON202-20202 / My Assessments / MIDTERM EXAM If the US has an average growth rate is 2.1% and South Korea has an average growth rate of 5.%, then South Korea is experiencing of O a. a slower economic growth than the US. b. no economic growth. estion O c. the same economic qrowth as the US. O d. a faster economic growth than the US. Next page A Chapter 6 In Class Practice Jump to... eu are logged in as ABDULRAHMAN ALSAEEM (Log out) Copyright © 2020 All Rights Reserved. MacBook Pro @ 2# % & 2 3 4 5 7 8 A E R T Y ض ق そ A S » G H. J K V B i く 6. つつ > *3
Which of the following statements about the opportunity cost of economic growth is correct? The opportunity cost of economic growth O A. is human capital O B. is capital consumption O C. is greater the faster we make our production grow O D. is zero
Labor productivity growth depends on I. saving and investment. ii, increases in human capital. il, technological growth. O A. i only O B. Both ii and i OC. i, ii, and ii OD. i only O E. i only
K The new growth theory argues that A. improvements in technology are not so important in determining economic growth because there are almost no productivity gains left in the economy. O B. for new technology to positively affect economic growth, the benefits from R&D activity must all accrue to the country that performs the R&D. OC. technology must be considered a separate factor of production that is sensitive to economic incentives. OD. economic growth is determined by technology, but growth in technology is unrelated to economic incentives.
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.