Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 18.4, Problem 4QQ
To determine
Thedeterminants of income of owner of land and capital.
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Weak sustainability requires the maintenance of
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Principles of Economics, 7th Edition (MindTap Course List)
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- Why dues productivity growth in high-income economies not slow down as it runs into diminishing returns from additional investments in physical capital and human capital? Does this show one area where the theory of diminishing returns fails to apply? Why or why not?arrow_forwardI need typing clear urjent no chatgpt use i will give 5 upvotes full explanationarrow_forwardAssume an economy where there are two producers: a wheat producer and a bread producer. In agiven year, the wheat producer grows 3 million tonnes of wheat, of which 2.5 million tonnes aresold to the bread producer at $30 per bushel, and 0.5 million tonnes are stored by the wheatproducer to use as seed for next years crop. The bread producer produces and sells 100 millionloaves of bread to consumers for $3.50 per loaf. Determine GDP in this economy during this yearusing the product and expenditure approaches.arrow_forward
- only typed answer Assume that a steel company sold $152 million worth of steel, paid $64 million in wages, purchased $21 million of coal that it uses to produce its steel, and paid $46 million in taxes. What was the value added of this company? A) $152 million. B) $131 million. C) $67 million. D) $21 million.arrow_forward“Total economic value can be determined by active-use value (such as raw timbervalue to use timber as firewood or furniture) and passive use value (such as tree as anoxygen producing system)”. What do you understand from the above statement??Explain in detail.arrow_forward18arrow_forward
- 3 Jlgw ?Provide 2 situations why diminishing return could happen in Albaarrow_forwardNonearrow_forwardThe Atlantic Investment Tax Credit is a 10% tax credit available to businesses that make specific investments in the Atlantic region and the Gaspe Peninsula. The graph shows the market for loanable funds. Show the impact of this tax credit by moving the proper curve appropriately in the graph. The new equilibrium interest rate is The quantity of loanable funds is $ ક billion Which statement accurately describes the impact of the Atlantic Investment Tax Credit? Interest rate (%) 10 9 8 7 6 5 st 3 2 1 0 0 5 10 15 20 25 30 35 Quantity of loanable funds (in billions) 40 Supply Demand 45 50arrow_forward
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