The technological progress of a modern jet airliner compared to airliners made in the times of 1960s. Concept Introduction: Economic Growth : The economy is said to be growing when there is an increase in the production of goods and services per head, when a certain time period is compared to another time period.

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Answer 1

Question

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.

Chapter P7, Problem 1.1BC

To determine

The technological progress of a modern jet airliner compared to airliners made in the times of 1960s.

Concept Introduction:

Economic Growth: The economy is said to be growing when there is an increase in the production of goods and services per head, when a certain time period is compared to another time period.

Expert Solution & Answer

Explanation of Solution

In the given case, with the technical progress the fares have reduced to one-third compared to fares of 1960s, after making adjustments for inflation.

The modern jet airline uses less than one-third of fuel used in airlines of 1960s, so it can be said that modern airlines are comparatively more fuel efficient.

Various variabilities are also there in the engine as modern engines are high-bypass engine, with engine there is also change in the usage of raw material and because of this the airframes are comparatively lighter.

However, modern airways do pretty much the same thing compared to the airliners of 1960s but there is a huge difference in technology, which is not viewed by the people.

Conclusion:

Thus, people do not view difference in technology and think that there is no technological progress.

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Answer 2

Question

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.

Chapter P7, Problem 1.1BC

To determine

The technological progress of a modern jet airliner compared to airliners made in the times of 1960s.

Concept Introduction:

Economic Growth: The economy is said to be growing when there is an increase in the production of goods and services per head, when a certain time period is compared to another time period.

Expert Solution & Answer

Explanation of Solution

In the given case, with the technical progress the fares have reduced to one-third compared to fares of 1960s, after making adjustments for inflation.

The modern jet airline uses less than one-third of fuel used in airlines of 1960s, so it can be said that modern airlines are comparatively more fuel efficient.

Various variabilities are also there in the engine as modern engines are high-bypass engine, with engine there is also change in the usage of raw material and because of this the airframes are comparatively lighter.

However, modern airways do pretty much the same thing compared to the airliners of 1960s but there is a huge difference in technology, which is not viewed by the people.

Conclusion:

Thus, people do not view difference in technology and think that there is no technological progress.

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Answer 3

Question

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.

Chapter P7, Problem 1.1BC

To determine

The technological progress of a modern jet airliner compared to airliners made in the times of 1960s.

Concept Introduction:

Economic Growth: The economy is said to be growing when there is an increase in the production of goods and services per head, when a certain time period is compared to another time period.

Expert Solution & Answer

Explanation of Solution

In the given case, with the technical progress the fares have reduced to one-third compared to fares of 1960s, after making adjustments for inflation.

The modern jet airline uses less than one-third of fuel used in airlines of 1960s, so it can be said that modern airlines are comparatively more fuel efficient.

Various variabilities are also there in the engine as modern engines are high-bypass engine, with engine there is also change in the usage of raw material and because of this the airframes are comparatively lighter.

However, modern airways do pretty much the same thing compared to the airliners of 1960s but there is a huge difference in technology, which is not viewed by the people.

Conclusion:

Thus, people do not view difference in technology and think that there is no technological progress.

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

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.

Chapter P7, Problem 1.1BC

To determine

The technological progress of a modern jet airliner compared to airliners made in the times of 1960s.

Concept Introduction:

Economic Growth: The economy is said to be growing when there is an increase in the production of goods and services per head, when a certain time period is compared to another time period.

Expert Solution & Answer

Explanation of Solution

In the given case, with the technical progress the fares have reduced to one-third compared to fares of 1960s, after making adjustments for inflation.

The modern jet airline uses less than one-third of fuel used in airlines of 1960s, so it can be said that modern airlines are comparatively more fuel efficient.

Various variabilities are also there in the engine as modern engines are high-bypass engine, with engine there is also change in the usage of raw material and because of this the airframes are comparatively lighter.

However, modern airways do pretty much the same thing compared to the airliners of 1960s but there is a huge difference in technology, which is not viewed by the people.

Conclusion:

Thus, people do not view difference in technology and think that there is no technological progress.

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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 P7, Problem 1.1BC

To determine

The technological progress of a modern jet airliner compared to airliners made in the times of 1960s.

Concept Introduction:

Economic Growth: The economy is said to be growing when there is an increase in the production of goods and services per head, when a certain time period is compared to another time period.

Expert Solution & Answer

Explanation of Solution

In the given case, with the technical progress the fares have reduced to one-third compared to fares of 1960s, after making adjustments for inflation.

The modern jet airline uses less than one-third of fuel used in airlines of 1960s, so it can be said that modern airlines are comparatively more fuel efficient.

Various variabilities are also there in the engine as modern engines are high-bypass engine, with engine there is also change in the usage of raw material and because of this the airframes are comparatively lighter.

However, modern airways do pretty much the same thing compared to the airliners of 1960s but there is a huge difference in technology, which is not viewed by the people.

Conclusion:

Thus, people do not view difference in technology and think that there is no technological progress.

Answer 6

Chapter P7, Problem 1.1BC

To determine

The technological progress of a modern jet airliner compared to airliners made in the times of 1960s.

Concept Introduction:

Economic Growth: The economy is said to be growing when there is an increase in the production of goods and services per head, when a certain time period is compared to another time period.

Expert Solution & Answer

Explanation of Solution

In the given case, with the technical progress the fares have reduced to one-third compared to fares of 1960s, after making adjustments for inflation.

The modern jet airline uses less than one-third of fuel used in airlines of 1960s, so it can be said that modern airlines are comparatively more fuel efficient.

Various variabilities are also there in the engine as modern engines are high-bypass engine, with engine there is also change in the usage of raw material and because of this the airframes are comparatively lighter.

However, modern airways do pretty much the same thing compared to the airliners of 1960s but there is a huge difference in technology, which is not viewed by the people.

Conclusion:

Thus, people do not view difference in technology and think that there is no technological progress.

Answer 7

Chapter P7, Problem 1.1BC

To determine

The technological progress of a modern jet airliner compared to airliners made in the times of 1960s.

Concept Introduction:

Economic Growth: The economy is said to be growing when there is an increase in the production of goods and services per head, when a certain time period is compared to another time period.

Answer 8

Expert Solution & Answer

Explanation of Solution

In the given case, with the technical progress the fares have reduced to one-third compared to fares of 1960s, after making adjustments for inflation.

The modern jet airline uses less than one-third of fuel used in airlines of 1960s, so it can be said that modern airlines are comparatively more fuel efficient.

Various variabilities are also there in the engine as modern engines are high-bypass engine, with engine there is also change in the usage of raw material and because of this the airframes are comparatively lighter.

However, modern airways do pretty much the same thing compared to the airliners of 1960s but there is a huge difference in technology, which is not viewed by the people.

Conclusion:

Thus, people do not view difference in technology and think that there is no technological progress.