Macroeconomics
13th Edition
ISBN: 9780134744452
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 6, Problem 14APA
(a)
To determine
Explain what happens to potential
(b)
To determine
Explain what happens to employment if labor productivity decreases.
(c)
To determine
Explain what happens to real wage rate if labor productivity decreases.
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Students have asked these similar questions
What you understand by Business Cycles.
How do you feel that business cycles and the health of the economy affect the value of your labor?
When production in an economy grows more quickly than the population in that economy, which of the following must be occurring?
A.
Incomes are growing at a slower rate than the population.
B.
Real GDP is falling.
C.
Real GDP per capita is constant.
D.
Real GDP per capita is rising.
E.
Living standards are falling.
QUESTION 18
If immigration laws become more strict and many foreign citizens are not allowed to work and are forced to leave the United States,
A.
there is a movement down along the aggregate supply curve.
B.
the potential GDP curve will shift to the right.
C.
the aggregate demand curve will shift to the left.
D.
there is a movement up along the aggregate supply curve.
E.
the potential GDP curve will shift to the lef
Chapter 6 Solutions
Macroeconomics
Ch. 6.1 - Prob. 1RQCh. 6.1 - Prob. 2RQCh. 6.1 - Prob. 3RQCh. 6.2 - Prob. 1RQCh. 6.2 - Prob. 2RQCh. 6.2 - Prob. 3RQCh. 6.3 - Prob. 1RQCh. 6.3 - Prob. 2RQCh. 6.3 - Prob. 3RQCh. 6.3 - Prob. 4RQ
Ch. 6.3 - Prob. 5RQCh. 6.3 - Prob. 6RQCh. 6.4 - Prob. 1RQCh. 6.4 - Prob. 2RQCh. 6.4 - Prob. 3RQCh. 6.5 - Prob. 1RQCh. 6.5 - Prob. 2RQCh. 6.5 - Prob. 3RQCh. 6 - Prob. 1SPACh. 6 - Prob. 2SPACh. 6 - Prob. 3SPACh. 6 - Prob. 4SPACh. 6 - Prob. 5SPACh. 6 - Prob. 6SPACh. 6 - Prob. 7SPACh. 6 - Prob. 8SPACh. 6 - Prob. 9APACh. 6 - Prob. 10APACh. 6 - Prob. 11APACh. 6 - Prob. 12APACh. 6 - Prob. 13APACh. 6 - Prob. 14APACh. 6 - Prob. 15APACh. 6 - Prob. 16APACh. 6 - Prob. 17APACh. 6 - Prob. 18APACh. 6 - Prob. 19APACh. 6 - Prob. 20APACh. 6 - Prob. 21APACh. 6 - Prob. 22APACh. 6 - Prob. 23APACh. 6 - Prob. 24APACh. 6 - Prob. 25APA
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- Each country has its own customs and traditions that determine business practices and influences how countries perceive products. This is an example of factors that influence the business environment a. competitive b. social and cultural C. demographic d. political and legal e. economicarrow_forwardLook up data on the current unemployment rate, inflation rate, and/or GDP growth rate. Based on the data, comment on the current state of the economy.arrow_forwardWhat is the likely effect on a country's labor productivity if there is significant investment in technology and employee training? A. Labor productivity will decrease. B. Labor productivity will remain unchanged. C. Labor productivity will increase. D. Labor productivity will first increase, then decrease over time.arrow_forward
- A reason that the United States has the largest economy in the world because ________.A. American workers are very productive.B. it has the most land to work with.C. it has a smaller population to support.D. All of the responses are correct.27) Perhaps the best measure of economic progress is _____A. the annual inflation rate, since it accounts for what is happening to prices.B. the growth rate of real GDP per capita, since it takes into account both price changes and population growth.C. the annual growth rate in the population.D. the amount of working time needed for an individual worker to afford certain goods and services.arrow_forwardb. If a severe drought decreases labor productivity, explain what happens to: i. ii. iii. iv. V. Potential GDP Demand and supply of labor Employment The real wage rate Real GDP per personarrow_forwardHow is economic growth measured? Question 1Answer a. The percentage change in the employment rate b. The percentage change in income taxes collected by the government c. The percentage change in real GDP d. The percentage change in the unemployment ratearrow_forward
- DRAG AND ARRANGE The following is a list of events that occur during an economic expansion. Drag and drop them in the correct sequence. 1 2 2 4 5 Tax revenue falls Unemployment benefits fall Budget deficit falls Unemployment falls Income risesarrow_forwardExplain in detail. How the economy of US changed over years. Is there any economic progress there?arrow_forwarda. If a large increase in investment increases labor productivity, explain what happens to: i. Potential GDP ii. iii. iv. V. Demand and supply of labor Employment The real wage rate Real GDP per personarrow_forward
- Under what circumstances does labor productivity grow?arrow_forwardHuman capital is defined as: a. The skills and education that make workers more productive b. The knowledge of the best and most efficient ways to produce goods and services c. The total number of workers available in the economy d. The total amount of financial investment in an economyarrow_forwardThe value of production in an economy is $19,467 billion. The economy has 329,43 million people. What is the value of production per person? notice the units are different. Enter a whole numberarrow_forward
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