The period since the Industrial Revolution has been extraordinary because despite unprecedented: O Declines in economic efficiency, there has been a rise in the standard of living in industrialized nations O Population growth, there has been a substantial decrease in the productivity in industrialized nations Declines in economic efficiency, there has been a rise in population growth in industrialized nations O Population growth, there has been a substantial increase in the standard of

The period since the Industrial Revolution has been extraordinary because despite unprecedented: O Declines in economic efficiency, there has been a rise in the standard of living in industrialized nations O Population growth, there has been a substantial decrease in the productivity in industrialized nations Declines in economic efficiency, there has been a rise in population growth in industrialized nations O Population growth, there has been a substantial increase in the standard of

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Which of the following options listed below do economists count as determinants of economic growth? Select all that apply. Hint: read through all the options provided. O Techriological improvement. Growth in birth rates O Growth in the number of people "Not in the labour force". Growth in human capital. Growth in the interest rate. Growth in the labour force participation rate. O Growth in government spending. Growth in resource efficiency. Growth in physical capital. O Growth in the number of immigrants entering the country. Minimizing taxes. O Growth in imports.
Consider the growth model with labour augmenting technological progress. A decrease in the steady state capital per worker may be a result of O Increase in technological growth rate Decrease in savings rate O Increase in population growth rate All other options are correct,
Ee 311.
Beginning about 1985, many developing countries, dissatisfied with the results of import-substitution policies, greatly reduced rates of protection for manufacturing. As a result, developing-country trade rapidly, and the share of manufactured goods The results of this policy change , in terms of sustainable economic growth, have been mixed at best. O decreased, decreased O decreased, remained stable O increased, decreased O increased, increased
According to the text, European countries' growth rates of real GDP per capita Select one: O a. decreased in the first two decades after 1980 and then increased in the following two decades. O b. decreased during each of the four decades beginning 1980. O c. followed a random pattern during the four decades beginning 1980. O d. remained constant during each of the four decades beginning 1980.
What is the contribution of exports to economic growth? Comment on the export comparison chart below
Consider the economies of Sporon and Gobbledigook, both of which produce gobs of goo using only tools and workers. Suppose that, during the course of 20 years, the level of physical capital per worker rises by 5 tools per worker in each economy, but the size of each labor force remains the same. Complete the following tables by entering productivity (in terms of output per worker) for each economy in 2015 and 2035. Sporon Year Physical Capital (Tools per worker) Labor Force (Workers) Output (Gobs of goo) Productivity (Gobs per worker) 2015 11 30 1,800 2035 16 30 2,160 Gobbledigook Year Physical Capital (Tools per worker) Labor Force (Workers) Output (Gobs of goo) Productivity (Gobs per worker) 2015 8 30 900 2035 13 30 1,620 Initially, the number of tools per worker was higher in Sporon than in Gobbledigook. From 2015 to 2035, capital per worker rises by 5 units in each country. The 5-unit change in capital per worker…
Which of the following institutions, if adopted by a country, will most directly help alleviate the problem of corruption limiting economic growth? Choose one: O A. stable money and prices - O B. private property rights OC. political stability and the rule of law OD. competitive and open markets
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.
what presents the greatest hindrance in the move to the fourth industrial revolution?
What is the largest contributing factor to human population growth during the 20th and 21st century? a decrease in birth rates an increase in death rates O a decrease in death rates O an increase in birth rates
Consider the economies of Tralfamadore and Sporon, both of which produce agricultural products using only land and labour. The following tables show the supply of land, population size, and real GDP for these two economies from 2020 to 2023. Complete the last column of the following two tables by calculating real GDP per capita for the two economies. Tralfamadore Land Real GDP (Dollars) Real GDP per Capita (Dollars) Year (Hectares) Population 2020 20,000 500 4,500 2021 20,000 1,000 10,000 2022 20,000 1,500 16,500 2023 20,000 2,000 24,000 Sporon Land Real GDP Real GDP per Capita (Dollars) Year (Hectares) Population (Dollars) 2020 20,000 1,000 15,000 2021 20,000 2,000 28,000 2022 20,000 3,000 36,000 2023 20,000 4,000 40,000 Rapid population growth tends to threaten economic growth in economies with higher or lower land-labour ratios.