Impact of technological progress on aggregate production function.

Question

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Answer 1

Question

Chapter 38, Problem 1CYU

a)

To determine

To find:

Impact of technological progress on aggregate production function.

a)

Expert Solution

Explanation of Solution

Due to technological change, aggregate production function gets affected. It shifts upward and downward. When there is a positive technological progress, the aggregate production function shifts upward or vice-versa.

Krugman's Economics For The Ap® Course, Chapter 38, Problem 1CYU , additional homework tip 1

Economics Concept Introduction

Production function shows the relation between input and output of a product. It shows the variation of output due to change in input.

b)

To determine

Impact on aggregate production as the amount of physical capital per worker grows.

b)

Expert Solution

Explanation of Solution

As the physical capital per worker grows, there will be a movement along the aggregate production function even though the level of human capital per worker and technology are unchanged.

Krugman's Economics For The Ap® Course, Chapter 38, Problem 1CYU , additional homework tip 2

Economics Concept Introduction

Production function shows the relation between input and output of a product. It shows the variation of output due to change in input.

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

Answer 2

Question

Chapter 38, Problem 1CYU

a)

To determine

To find:

Impact of technological progress on aggregate production function.

a)

Expert Solution

Explanation of Solution

Due to technological change, aggregate production function gets affected. It shifts upward and downward. When there is a positive technological progress, the aggregate production function shifts upward or vice-versa.

Krugman's Economics For The Ap® Course, Chapter 38, Problem 1CYU , additional homework tip 1

Economics Concept Introduction

Production function shows the relation between input and output of a product. It shows the variation of output due to change in input.

b)

To determine

Impact on aggregate production as the amount of physical capital per worker grows.

b)

Expert Solution

Explanation of Solution

As the physical capital per worker grows, there will be a movement along the aggregate production function even though the level of human capital per worker and technology are unchanged.

Krugman's Economics For The Ap® Course, Chapter 38, Problem 1CYU , additional homework tip 2

Economics Concept Introduction

Production function shows the relation between input and output of a product. It shows the variation of output due to change in input.

Want to see more full solutions like this?

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

Answer 3

Question

Chapter 38, Problem 1CYU

a)

To determine

To find:

Impact of technological progress on aggregate production function.

a)

Expert Solution

Explanation of Solution

Due to technological change, aggregate production function gets affected. It shifts upward and downward. When there is a positive technological progress, the aggregate production function shifts upward or vice-versa.

Krugman's Economics For The Ap® Course, Chapter 38, Problem 1CYU , additional homework tip 1

Economics Concept Introduction

Production function shows the relation between input and output of a product. It shows the variation of output due to change in input.

b)

To determine

Impact on aggregate production as the amount of physical capital per worker grows.

b)

Expert Solution

Explanation of Solution

As the physical capital per worker grows, there will be a movement along the aggregate production function even though the level of human capital per worker and technology are unchanged.

Krugman's Economics For The Ap® Course, Chapter 38, Problem 1CYU , additional homework tip 2

Economics Concept Introduction

Production function shows the relation between input and output of a product. It shows the variation of output due to change in input.

Want to see more full solutions like this?

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

Answer 4

Question

Chapter 38, Problem 1CYU

a)

To determine

To find:

Impact of technological progress on aggregate production function.

a)

Expert Solution

Explanation of Solution

Due to technological change, aggregate production function gets affected. It shifts upward and downward. When there is a positive technological progress, the aggregate production function shifts upward or vice-versa.

Krugman's Economics For The Ap® Course, Chapter 38, Problem 1CYU , additional homework tip 1

Economics Concept Introduction

Production function shows the relation between input and output of a product. It shows the variation of output due to change in input.

b)

To determine

Impact on aggregate production as the amount of physical capital per worker grows.

b)

Expert Solution

Explanation of Solution

As the physical capital per worker grows, there will be a movement along the aggregate production function even though the level of human capital per worker and technology are unchanged.

Krugman's Economics For The Ap® Course, Chapter 38, Problem 1CYU , additional homework tip 2

Economics Concept Introduction

Production function shows the relation between input and output of a product. It shows the variation of output due to change in input.

Want to see more full solutions like this?

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

Answer 5

Chapter 38, Problem 1CYU

a)

To determine

To find:

Impact of technological progress on aggregate production function.

a)

Expert Solution

Explanation of Solution

Due to technological change, aggregate production function gets affected. It shifts upward and downward. When there is a positive technological progress, the aggregate production function shifts upward or vice-versa.

Krugman's Economics For The Ap® Course, Chapter 38, Problem 1CYU , additional homework tip 1

Economics Concept Introduction

Production function shows the relation between input and output of a product. It shows the variation of output due to change in input.

b)

To determine

Impact on aggregate production as the amount of physical capital per worker grows.

b)

Expert Solution

Explanation of Solution

As the physical capital per worker grows, there will be a movement along the aggregate production function even though the level of human capital per worker and technology are unchanged.

Krugman's Economics For The Ap® Course, Chapter 38, Problem 1CYU , additional homework tip 2

Economics Concept Introduction

Production function shows the relation between input and output of a product. It shows the variation of output due to change in input.

Answer 6

Chapter 38, Problem 1CYU

a)

To determine

To find:

Impact of technological progress on aggregate production function.

a)

Expert Solution

Explanation of Solution

Due to technological change, aggregate production function gets affected. It shifts upward and downward. When there is a positive technological progress, the aggregate production function shifts upward or vice-versa.

Krugman's Economics For The Ap® Course, Chapter 38, Problem 1CYU , additional homework tip 1

Economics Concept Introduction

Production function shows the relation between input and output of a product. It shows the variation of output due to change in input.

Answer 7

Chapter 38, Problem 1CYU

a)

To determine

To find:

Impact of technological progress on aggregate production function.

Answer 8

a)

Expert Solution

Explanation of Solution

Due to technological change, aggregate production function gets affected. It shifts upward and downward. When there is a positive technological progress, the aggregate production function shifts upward or vice-versa.

Krugman's Economics For The Ap® Course, Chapter 38, Problem 1CYU , additional homework tip 1

Answer 9

a)

Expert Solution

Answer 10

a)

Expert Solution

Answer 11

Expert Solution

Answer 12

Economics Concept Introduction

Production function shows the relation between input and output of a product. It shows the variation of output due to change in input.

Answer 13

b)

To determine

Impact on aggregate production as the amount of physical capital per worker grows.

b)

Expert Solution

Explanation of Solution

As the physical capital per worker grows, there will be a movement along the aggregate production function even though the level of human capital per worker and technology are unchanged.

Krugman's Economics For The Ap® Course, Chapter 38, Problem 1CYU , additional homework tip 2

Economics Concept Introduction

Production function shows the relation between input and output of a product. It shows the variation of output due to change in input.

Answer 14

b)

To determine

Impact on aggregate production as the amount of physical capital per worker grows.

Answer 15

b)

Expert Solution

Explanation of Solution

As the physical capital per worker grows, there will be a movement along the aggregate production function even though the level of human capital per worker and technology are unchanged.

Krugman's Economics For The Ap® Course, Chapter 38, Problem 1CYU , additional homework tip 2