Xenonia has a larger supply of labor than does Inventia. If the labor supply in both countries increases by the same amount while their physical capital stocks remain unchanged, ________.the increase in Xenonia's output will be more than the increase in Inventia's outputthe increase in Inventia's output will be more than the increase in Xenonia's outputXenonia's income per capita will increase, while Inventia's income per capita will decreaseXenonia's income per capita will decrease, while Inventia's income per capita will increase Exponential growth implies that ________.growth rates can only be positivegrowth rates will alternate between positive and negative values in every consecutive time periodrelatively large differences in growth rates will translate into small differences in the level of a quantity after many years of growingrelatively small differences in growth rates will translate into large differences in the level of a quantity after many years of growing Consider a closed economy without a government. If the GDP of the economy is $63,000 and the consumption in the economy is $45,000, the saving rate in the economy is ________.86 percent24 percent57 percent75 percent Which of the following is true of the growth in the U.S. economy from 1950 to 2007?Growth resulting from technology > growth resulting from human capital > growth resulting from physical capitalGrowth resulting from technology > growth resulting from physical capital > growth resulting from human capitalGrowth resulting from physical capital > growth resulting from technology > growth resulting from human capitalGrowth resulting from human capital > growth resulting from technology > growth resulting from physical capital Certain countries remain backward because they nurture superstition and are suspicious of new technology. This argument is based on the ________.culture hypothesisgeography hypothesiscapital hypothesislocation hypothesis Which of the following statements is true?All market economies have inclusive institutions.Inclusive institutions privilege a few at the expense of many.Countries with extractive institutions encourage entrepreneurship and private ownership of property.The economic institutions of a country are interlinked with the political institutions in that country. If the opportunity cost of entrepreneurship increases, the ________.aggregate output of the economy will decreaseprice level in the economy will fallnumber of entrepreneurs in the economy will increaseaggregate demand in the economy will increase

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

Answered: Xenonia has a larger supply of labor…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter23: The International Trade And Capital Flows

Section: Chapter Questions

Problem 32CTQ: Occasionally, a government official will argue that a country should strive for both a trade surplus...

See similar textbooks

Related questions

Question

Xenonia has a larger supply of labor than does Inventia. If the labor supply in both countries increases by the same amount while their physical capital stocks remain unchanged, ________.

the increase in Xenonia's output will be more than the increase in Inventia's output
the increase in Inventia's output will be more than the increase in Xenonia's output
Xenonia's income per capita will increase, while Inventia's income per capita will decrease
Xenonia's income per capita will decrease, while Inventia's income per capita will increase

Exponential growth implies that ________.

growth rates can only be positive
growth rates will alternate between positive and negative values in every consecutive time period
relatively large differences in growth rates will translate into small differences in the level of a quantity after many years of growing
relatively small differences in growth rates will translate into large differences in the level of a quantity after many years of growing

Consider a closed economy without a government. If the GDP of the economy is $63,000 and the consumption in the economy is $45,000, the saving rate in the economy is ________.

86 percent
24 percent
57 percent
75 percent

Which of the following is true of the growth in the U.S. economy from 1950 to 2007?

Growth resulting from technology > growth resulting from human capital > growth resulting from physical capital
Growth resulting from technology > growth resulting from physical capital > growth resulting from human capital
Growth resulting from physical capital > growth resulting from technology > growth resulting from human capital
Growth resulting from human capital > growth resulting from technology > growth resulting from physical capital

Certain countries remain backward because they nurture superstition and are suspicious of new technology. This argument is based on the ________.

culture hypothesis
geography hypothesis
capital hypothesis
location hypothesis

Which of the following statements is true?

All market economies have inclusive institutions.
Inclusive institutions privilege a few at the expense of many.
Countries with extractive institutions encourage entrepreneurship and private ownership of property.
The economic institutions of a country are interlinked with the political institutions in that country.

If the opportunity cost of entrepreneurship increases, the ________.

aggregate output of the economy will decrease
price level in the economy will fall
number of entrepreneurs in the economy will increase
aggregate demand in the economy will increase

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.