The way of total output and output per worker changed over time in the United States and the way it affected the lives of typical people.

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Answer 1

Question

Chapter 1, Problem 1RQ

To determine

The way of total output and output per worker changed over time in the United States and the way it affected the lives of typical people.

Expert Solution & Answer

Explanation of Solution

Labor productivity refers to the output per unit of labor input.

Unit labor costs, on the other hand, refer to labor cost per unit of output.

Unemployment occurs when workers who want to work are unable to find jobs.

According to the Department of Labor, U.S. productivity growth was fairly strong in the 1950s but then declined in the 1970s and 1980s before rising again in the second half of the 1990s and the first half of the 2000s.

The rate of productivity measured by the change in output per hour worked averaged 3.2% per year from 1950 to 1970 which dropped to 1.9% per year from 1970 to 1990 and then climbed back to over 2.3% from 1991 to the present with another modest slowdown after 2001.

A fall in total output leads to employment loss because lower output requires a smaller number of people. Hence, people were affected due to a loss in total output.

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3. Consider the market for paper. The process of producing paper creates pollution. Assume that the marginal damage function for pollution is given by: MDF = 3E where damages are measured in dollars and E is the level of emissions. Assume further that the function describing the marginal abatement cost of emissions is given by MAC 120-E where benefits are measured in dollars and E is the level of emissions. a. Graph the marginal damage function (MDF) and the marginal abatement cost function (MAC). b. What is the unregulated level of emissions Eu? What is the social welfare of this emissions level? c. Assume an existing emission quota limits emissions to E = 60. Show on the graph why this policy is inefficient. What is the deadweight loss caused by this policy?

show written calculation for B

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Answer 2

Question

Chapter 1, Problem 1RQ

To determine

The way of total output and output per worker changed over time in the United States and the way it affected the lives of typical people.

Expert Solution & Answer

Explanation of Solution

Labor productivity refers to the output per unit of labor input.

Unit labor costs, on the other hand, refer to labor cost per unit of output.

Unemployment occurs when workers who want to work are unable to find jobs.

According to the Department of Labor, U.S. productivity growth was fairly strong in the 1950s but then declined in the 1970s and 1980s before rising again in the second half of the 1990s and the first half of the 2000s.

The rate of productivity measured by the change in output per hour worked averaged 3.2% per year from 1950 to 1970 which dropped to 1.9% per year from 1970 to 1990 and then climbed back to over 2.3% from 1991 to the present with another modest slowdown after 2001.

A fall in total output leads to employment loss because lower output requires a smaller number of people. Hence, people were affected due to a loss in total output.

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Answer 3

Question

Chapter 1, Problem 1RQ

To determine

The way of total output and output per worker changed over time in the United States and the way it affected the lives of typical people.

Expert Solution & Answer

Explanation of Solution

Labor productivity refers to the output per unit of labor input.

Unit labor costs, on the other hand, refer to labor cost per unit of output.

Unemployment occurs when workers who want to work are unable to find jobs.

According to the Department of Labor, U.S. productivity growth was fairly strong in the 1950s but then declined in the 1970s and 1980s before rising again in the second half of the 1990s and the first half of the 2000s.

The rate of productivity measured by the change in output per hour worked averaged 3.2% per year from 1950 to 1970 which dropped to 1.9% per year from 1970 to 1990 and then climbed back to over 2.3% from 1991 to the present with another modest slowdown after 2001.

A fall in total output leads to employment loss because lower output requires a smaller number of people. Hence, people were affected due to a loss in total output.

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Answer 4

Question

Chapter 1, Problem 1RQ

To determine

The way of total output and output per worker changed over time in the United States and the way it affected the lives of typical people.

Expert Solution & Answer

Explanation of Solution

Labor productivity refers to the output per unit of labor input.

Unit labor costs, on the other hand, refer to labor cost per unit of output.

Unemployment occurs when workers who want to work are unable to find jobs.

According to the Department of Labor, U.S. productivity growth was fairly strong in the 1950s but then declined in the 1970s and 1980s before rising again in the second half of the 1990s and the first half of the 2000s.

The rate of productivity measured by the change in output per hour worked averaged 3.2% per year from 1950 to 1970 which dropped to 1.9% per year from 1970 to 1990 and then climbed back to over 2.3% from 1991 to the present with another modest slowdown after 2001.

A fall in total output leads to employment loss because lower output requires a smaller number of people. Hence, people were affected due to a loss in total output.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 1, Problem 1RQ

To determine

The way of total output and output per worker changed over time in the United States and the way it affected the lives of typical people.

Expert Solution & Answer

Explanation of Solution

Labor productivity refers to the output per unit of labor input.

Unit labor costs, on the other hand, refer to labor cost per unit of output.

Unemployment occurs when workers who want to work are unable to find jobs.

According to the Department of Labor, U.S. productivity growth was fairly strong in the 1950s but then declined in the 1970s and 1980s before rising again in the second half of the 1990s and the first half of the 2000s.

The rate of productivity measured by the change in output per hour worked averaged 3.2% per year from 1950 to 1970 which dropped to 1.9% per year from 1970 to 1990 and then climbed back to over 2.3% from 1991 to the present with another modest slowdown after 2001.

A fall in total output leads to employment loss because lower output requires a smaller number of people. Hence, people were affected due to a loss in total output.

Answer 6

Chapter 1, Problem 1RQ

To determine

The way of total output and output per worker changed over time in the United States and the way it affected the lives of typical people.

Expert Solution & Answer

Explanation of Solution

Labor productivity refers to the output per unit of labor input.

Unit labor costs, on the other hand, refer to labor cost per unit of output.

Unemployment occurs when workers who want to work are unable to find jobs.

According to the Department of Labor, U.S. productivity growth was fairly strong in the 1950s but then declined in the 1970s and 1980s before rising again in the second half of the 1990s and the first half of the 2000s.

The rate of productivity measured by the change in output per hour worked averaged 3.2% per year from 1950 to 1970 which dropped to 1.9% per year from 1970 to 1990 and then climbed back to over 2.3% from 1991 to the present with another modest slowdown after 2001.

A fall in total output leads to employment loss because lower output requires a smaller number of people. Hence, people were affected due to a loss in total output.

Answer 7

Chapter 1, Problem 1RQ

To determine

The way of total output and output per worker changed over time in the United States and the way it affected the lives of typical people.

Answer 8

Expert Solution & Answer

Explanation of Solution

Labor productivity refers to the output per unit of labor input.

Unit labor costs, on the other hand, refer to labor cost per unit of output.

Unemployment occurs when workers who want to work are unable to find jobs.

According to the Department of Labor, U.S. productivity growth was fairly strong in the 1950s but then declined in the 1970s and 1980s before rising again in the second half of the 1990s and the first half of the 2000s.

The rate of productivity measured by the change in output per hour worked averaged 3.2% per year from 1950 to 1970 which dropped to 1.9% per year from 1970 to 1990 and then climbed back to over 2.3% from 1991 to the present with another modest slowdown after 2001.

A fall in total output leads to employment loss because lower output requires a smaller number of people. Hence, people were affected due to a loss in total output.