Which is an example of a secondary economic activity? O Growing corn on a farm for export. O Growing just enough food for one's immediate family. O Working in a car factory.

Q: Suppose some country had an adult population of about 50 million, a labor-force participation rate…

A: Population = 50 million Labour Force Participation = 60% Unemployment = 5%

Q: QUESTION 4 Which of the following is a capital resource? O A.A computer O B. Silicon (sand) used to…

A: A capital resource is any plant, property, or equipment that are used for production purposes. These…

Q: The market system results in O efficiency O an increased standard of living O All of these result…

A: The market system is the system where the product prices are decided by the demand and supply and…

Q: 3. Describe any five important differences between the labour market and the goods market.

A: Answer: Labour Market: A labour market is a place where labour and organization meet for achieving…

Q: Assume a society consists of two economic? groups: one group is rich and the other group is poor.…

A: Equity refers to fairness, justice, and impartiality in the distribution of resources,…

Q: If a country has a working-age population of 200 million, for which 135 million people with jobs, 10…

A: Labor force is the sum of people employed and unemployed. Labor force = employed + unemployed

Q: What were the sources of labor productivity growth in the U.S. economy during the sixty years since…

A: 1) During the sixty years since 1960, the sources of labor productivity growth in the U.S economy…

Q: vestments in human capital include all the following except A. attending college. B. saving money…

A: The human capital refers to the increase in human productivity and skills. Investment in education…

Q: When we speak of "capital" in economics we mean? a. financial instruments like stocks and bonds b.…

A: Answer: Correct option: (b) Explanation: In economics, capital is the term used for goods used to…

Q: What are the likely effects of technological advancements on the labor market in terms of employment…

A: The issue is to evaluate the effect of mechanical progressions on the work market, explicitly what…

Q: None

A: When the wage rate increases while keeping non-labor income the same, the effect on a person's hours…

Q: Why does higher worker productivity not necessarily mean GDP per capita will rise? O GDP per Capita…

A: Increased productivity and GDP growth rate are closely linked together but are these are not…

Q: 1.Choose one company (preferably local) and analyze the main economic activity of the company.…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Suppose the government runs fewer budget deficit and there is a decrease in the average household…

A: Here, it is given that government has fewer budget deficit, which influence the demand for loanable…

Q: The table below shows the production possibilities in Mistania between 2014 and 2015. Using the…

A: “Production Possibility Curve is a curve which shows various combination of two goods that can be…

Q: What is measured by how many goods and services a worker produces in an hour? O gross domestic…

A: Meaning of Factors of Production: The term factors of production refer to the situation under…

Q: QUESTION 20 Which of the fallawing is not an illustration of the notion of opportunity cost O A. The…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: What is Labor Economics?

A: Economics is mainly divided into micro economics and macro economics. In addition to that the…

Q: What would NOT be considered a factor of production? O labour O O capital O land stocks

A: Ans. Factors of production are the factors that use in the production process to produce goods and…

Q: For an economy described by the production model where labor's share of income is constant and equal…

A: According to product exhaustion theorem,  Y = (?f/?L)*L + (?f/?K)*K ……..(i)  where,  (?f/?L)*L =…

Q: In economics, what is any payment of production in excess to the cost needed to bring that factor…

A: Out of the given options, investment is not a payment for factor of production. Creation of economic…

Q: By going to school an individual will obtain which "factor of production"? O Money. O Physical…

A: the factor of production tells us about the various items needed in the production process and which…

Economic Growth

It means the rise in the manufacturing levels of a country’s products/services over a while. It is calculated in terms of the real income of the people of the country. When the production of products/services begins, the manufacturers will hire employees, which in turn raises the income of the people and it will also raise the buying power, this eventually leads to the circulation of money that directly helps in the increase in the Gross Domestic Product (GDP). Thus, GDP is calculated by economists to calculate the growth in the country.