Question 1. capital is 0.3. If capital grows by 1%, labour grows by 2% and growth of total factor productivity is 1.3%, by how much does total output grow? k] Assume a Cobb-Douglas production function, where the share of A. 4.30%. B. 3.00 %. C. 2.60 %. D. 1.16 %. E. There is not enough information to calculate it. Question 2. [ in per capita terms can be written as y = k. If the savings rate is s = 0.25, the rate of growth of population is n = 0.05 and the rate of depreciation is d = 0.10, how high is the rate of growth of output per capita? Assume an endogenous growth model with a production function that A. 20% B. 15% C. 10% D. 0% E. There is not enough information to calculate it.

Question 1. capital is 0.3. If capital grows by 1%, labour grows by 2% and growth of total factor productivity is 1.3%, by how much does total output grow? k] Assume a Cobb-Douglas production function, where the share of A. 4.30%. B. 3.00 %. C. 2.60 %. D. 1.16 %. E. There is not enough information to calculate it. Question 2. [ in per capita terms can be written as y = k. If the savings rate is s = 0.25, the rate of growth of population is n = 0.05 and the rate of depreciation is d = 0.10, how high is the rate of growth of output per capita? Assume an endogenous growth model with a production function that A. 20% B. 15% C. 10% D. 0% E. There is not enough information to calculate it.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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9.
Answer the following questions. Follow the instructions on attached image.
Suppose labor productivity increased by 4% last year. If technological progress was 3%, by how much must have the capital-to-labor ratio increased? A) 3%. B) 2%. C) 1%. D) 0%.
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4) If the marginal product of capital MPK > r, where r is the market rental rate for capital, the firm A. Should hire more capital until MPK = r. B. Should hire more labor until MPK = r. C. Should hire more labor until MPK = 0. D. Should fire more capital until MPK = r. %3D 5) Figure 1 below shows the dynamics of per-capita GDP for six countries in ratio scale from 1870 to 2010. From the Figure we learn that the level of per capita GDP A. Has almost doubled for the US from 1880 to 2020 B. Was higher in the U.S. compared to the UK in 1880 C. Was higher in China compared to Argentina in 2000. D. Increased by approximately 5 times in Japan from 1950 to 1970. Answer 64,000 U.S. 32,000 16,000 Argentina 8,000 U.K. 4,000 Japan 2,000 S. Africa China 1,000 1880 1900 1920 1940 1960 1980 2000 2020
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Question 1 (2 points) Given the following data, what is average labor productivity: Real GDP/person $50,000 !3! Population employed = 80% %3D O A) $40,000. O B) $50,000. C) $62,500. D) $66,667.
14. Along the balanced growth path if productivity grows by 2%, and labor grows by 1%. If the elasticities of output with respect to capital and labor are 0.2 and 0.8, respectively, how much would output grow? A) 1.1% B) 2.0% C) 3.5% D) 4.2%
1 10. Consider a production function of the form y=AK 2L² where y is units of output, K is units of capital and L is the number of people employed. How much will output increase by if both capital and labour employed increase by 25%? a. 25% b. 6,250 c. 50% Od. 5,000
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41. Which statement is correct Economic profit is higher than accounting profit Economic profit is less than accounting profit They are similar None is correct 42. Why the slope of production function become flatter when with more output produced? productivity of worker become higher diminishing return of output to input more contribution of input when produce more all are correct ล้างสิ่งที่เลือก อื่นๆ:
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