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 accumulated knowledge, skills, and expertise of the average worker in an economy is known as O…

A: In a market, there are different resources used by a firm during the production process that…

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: Consider the following equation: average hours worked worker employment population real GDP real GDP…

A: Answer - Need to find- Suppose an economy has a low birth rate . What will this do to labor…

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

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

Q: What are the main characteristics of a mixed economy?

A: When talking about types of economy, mixed economy is the economy with characteristics of command…

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: 3. Which of the following is NOT a factor of production? Land, area to make things. O Labor, people…

A: Production is the process of combining the different inputs and materials to get consumable output.…

Q: Every economy comprises of people who are out of the labor force. “Out of the labor force” is an…

A: Labor force include all the people who are ready to work.

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

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

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: 1. Which of the following happens when the country's labour is more productive? a. A decrease in…

A: In the market, labor productivity defines the ability of labor to produce output. It explains how…

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: 1. Mixed economy means an economy where

A: To find : What is meaning of mixed economy.

Q: 10%, the participation rate 60 percent, 200 million people 16 years or older are not in the labor…

A: Labor force consists of employed and unemployed workers. Employed workers are those who are involved…

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: Question text Which of the following is a determinant of productivity? a. Physical capital b. Tax…

A: (8)Question text: Which of the following is a determinant of productivity? a. Physical capital b.…

Q: Explain the Economic Function of the Entrepreneur

A: Economics studies how resources are allocated in a manner that most of the human wants are met. A…

Q: Which of the following is NOT a way that point F can become attainable? GUNS 600 E 500 400 300 G 350…

A: A Production Possibilities Frontier (PPF), is a graphical representation that illustrates the…

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: Which of the following actions is an example of an improvement in human capital? O A. Marcus hires…

A: The development of skills in workers leads to human capital. This increases the productivity.

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: 1. Which of the following is a likely scenario following a prevalent increase in death from HIV/AIDS…

A: B. Labor participation rate may decrease. Option "B" is correct. Due to increase in death from…

Q: Productivity is O A. the value of profit divided by the number of production workers O B. the value…

A: Hello, thank you for the question. Since there are multiple questions asked here, only the first…

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: 1. According to the preclassical or Physiocratic school (1756–78) and classical economists…

A: During the pre classical or classical economists era there were majorly three factors of production…

Q: 4. Does improvent in technologies cause higher real wages and lower unemployment rates.?

A: The unemployment rates would be the proportion of the unemployed to the total labor force times 100.…

Q: Pls help with below homework. What is the reason that Fuyao invested in the United States for…

A: Fuyao is a Chinese company that prefers to invest in US manufacturing instead in the Chinese market.…

Q: Discuss “Land” as a special input of production?E xplain in deatail

A: Modern economists consider land as a special input of production, which can be used in several ways.…

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…

Q: Which of the following represents people who are willing and able to work in an economy? a.…

A: In an economy, the measurement of employment and unemployment depends upon the population of a…

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.