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- Labor Productivity and Economic Growth outlined the logic of how increased productivity is associated with increased wages. Detail a situation where this is not the case and explain why it is not.16 A model without population growth and technological change, show that the growth rate of aggregate output(Y), per-capita output ( y= Y/L), and capital labor ratio (K/L), and aggregate capital (K) are all zero in the long run.A5. Why does 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? Write 30 lines for this.
- a)Interpret the data from the table and distinguish the relationship between the two countries. identify a public policy that can improve employment. State an example Unemployment Rate Year Country C Country D 2016 6.0 19.9 2017 5.8 19.1 2018 5.1 19.3 2019 5.0 15.6 2020 5.7 17.1 B)Interpret the data from the table and distinguish the relationship between the two countries. identify a public policy that can improve economic growth. State two examples Economic Growth rate Year Country A Country B 2016 4.0 3.2 2017 3.5 2.8 2018 2.6 2.0 2019 1.7 2.1 2020 -20.2 -2.131) Given the narrow interpretation of technology, technology will include which of the following? A) how well firms are run B) the organization and sophistication of markets C) the political environment D) none of the above 32) Suppose there are two countries that are identical with the following exception. The saving rate in country A is greater than the saving rate in country B. Given this information, we know that in the long run A) the growth rate of output per capita will be greater in B than in A. B) the growth rate of output per capita will be greater in A than in B. C) the capital-labor ratios (K/N) will be the same in both countries. D) the growth rate of output per capita will be the same in both countries. 33) Suppose there are two countries that are identical with the following exception. The saving rate in country A is greater than the saving rate in country B. Given this information, we know that in the long run A) the capital-labor ratio…V1. How will Australia’s terms of trade and external balance be impacted by global growth?
- The economy's real GDP was $140 billion in 2019 and $300 billion in 2020. Its population was 15 million in 2019 and 20 million in 2020. What is the growth rate of real GDP per capital from 2019 to 2020?v Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.1) The following public policies can facilitate economic growth in an economy. Give a definition for each policy. a. Distributive b. Redistributive c. Regulatory and substantive policiesQuestion 2 [We learned in class, that policymakers are interested in bolstering the country’s economic long-term productive capacity, which contributes towards stronger economic prosperity and enhanced social and individual well-being.] (a) [A nation’s economic prosperity is strongly dependent on the productive capacity of its economy. What are the main factors (or “ingredients”) that determine the productive capacity of a nation’s economy? Are there any limitations to these sources of growth and productivity? (b) We know that technological progress (innovation, ideas, knowledge breakthroughs) can help overcome barriers to economic growth as discussed in Question 2 part (a). Identify two sustainable development goals (SDG’s) and discuss how technological progress can assist in progress towards goal achievement.
- b) Identify THREE public policies that can stimulate employment and facilitate economic growth in an economy. Use examples to clearly illustrate how EACH policy can stimulate employment and facilitate economic growth in your country. (Max 750 words)Question 4 Explain the determinants of productivity. (Word count: 250 words max.) Many countries import considerable amounts of goods and services from other countries. Yet economists argue that a nation can enjoy a high standard of living only if it can produce a large quantity of goods and services itself. Can you reconcile these two facts? (Word count: 250 words max.)Subject: Business Economics 8. In 1990 real GDP per capita in the US was $40000. In 2004 real GDP per capita was $80000.What was the average annual growth rate of real GDP per capita in the US during this time?