37 Which of the following is not a determinant of the long-run level of real GDP? a The amount of capital used by firms b The price level c Available technology d Available stock of human capital
Q: Calculate the quarter-over-quarter percentage change in GDP for the last four quarters:…
A: GDP refers to the value of all final goods and services produced in an economy over a given period…
Q: Economics Consider an economy whose capital stock K grows at 2.3 % per year and whose labor force L…
A: Capital stock (K) growth rate = 2.3% per year Labor force (L) growth rate = 0.9% per year and…
Q: help me out with this please
A: A production function is a simple and occasionally graphical method of calculating production…
Q: GDP
A: GDP is final value of godds and services produces within the geographic boundaries of a country…
Q: Suppose the following data describe a nation's population: Year 1 Year 2 Population 300…
A: Solving questions 3 a b c all part
Q: What is the annual growth rate of real GDP? b. Do you think the welfare of all people in the U.S.…
A: The value of all final goods and services generated by labor and property in a well-defined…
Q: ·         How economists are both scientists and…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Consider an economy that produces only chocolate bars. In year 1, the quantity produced: is 6 bars…
A: There is an economy that produces only chocolate bars. Year Quantity (in bars) Price (in $) 1 6…
Q: Suppose that work hours in New Zombie are 300 in year 1, and productivity is $14 per hour worked.…
A: Real GDP = total value of final goods and services domestically produced in a year calculated at…
Q: From the economic growth and business cycle. Fill the five phases to fit the graph bellow and give…
A: The business cycle is said to be a series of cyclical fluctuations of economic activity expansion…
Q: he table below reports nominal and real GDP for the Tunisia from 2016 to 2018. Year Nominal GDP…
A: Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation…
Q: The following table gives nominal GDP, real GDP, and the population for two years. Find per capita…
A: Gross Domestic Product is the sum of all value added of a given economy. Value added is the…
Q: Which of the following would NOT be described as “capital” by economists? Question 57 options:…
A: As we know that Capital means that those durable produced goods which helps in further production of…
Q: Use the following table to answer the next question. Year Alta Zorn Alta Zorn (Real GDP) (Real GDP)…
A: The real GDP and population of three years for countries Alta and Zorn are given.
Q: Briefly differentiate between nominal and real GDP. Why is real GDP more relevant measure of…
A: The given question has been solved below.
Q: tion 11 nation's potential output/GDP is best described as: The maximum growth rate of output/GDP a…
A: GDP is the market value of final goods and services produced in the country within a period of time
Q: An increase in the amount of human capital in the economy will ["decrease",…
A: Human capital refers to the cumulative knowledge, methods, skills, experience, personality…
Q: Only three goods are produced in an economy in the following amounts: A = 10, B = 30, C = 5. The…
A: Gross domestic product (GDP) at current market prices is referred to as nominal GDP. Nominal GDP…
Q: In macroeconomics, the connection from inputs to outputs for the entire economy is called…
A: Aggregate demand refers to the total amount of goods and services that are produced and are ready…
Q: What were the approximate levels ($) of real GDP in the 2nd and 3rd quarters of 2020? (HINT: Use…
A: To get the growth rate in real GDP on a quarterly basis: Growth rate, g = (Q3-Q2)*100/Q2
Q: What are the effects of an increase in labor productivity on potential GDP, the quantity of labor,…
A: Gross Domestic Product is the total amount of goods and services that an economy can produce within…
Q: QUESTION 15 The production and prices in a country in two subsequent years are described by the…
A: The formula for nominal GDP: Nominal GDP = Price of goods in current year * Quantity of goods in…
Q: An economy produces three products, bags, computers and shirts. The prices and quantities of these…
A: GDP estimates the market value of an economy's final products and services generated over a certain…
Q: Briefly differentiate between nominal and real GDP. Why is real GDP more relevant measure of…
A: In an economy, gross domestic product is highly used to make economic policies because it provide…
Q: In 2015, approximately 59 percent of the adult population (250 million) was employed, among the…
A: The employment rate is used to measure the proportion of a nation's working-age population currently…
Q: Suppose the following information on Nominal GDP and Average Prices. Use 2011 as your base year.…
A: Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation…
Q: How impact the below factors for Secondary Education, General Pupils in Austria and United Kingdom ?…
A: Government expenditure on secondary education means that the country is focusing on monetary…
Q: Assume that an economy has 500 workers, each working 1,500 hours per year. If the average real…
A: Formula: Labor productivity = Total output ÷ Total input
Q: The following table gives some figures from forecasts of real GDP (in 2005 dollars) and population…
A: GDP conveys the performance of a nation during a given period of time. The rate at which GDP changes…
Q: Productivity of Quantity of Labor Year Labor 2,000 2,000 $200 210 3 2,000 210 The table shows the…
A: GDP is the gross domestic product. It shows the market value of all final goods and services…
Q: Consider the following simple economy that produces only three goods: 2009…
A: GDP is a macroeconomic measure of the aggregate total production of output in an economy. It can be…
Q: If real GDP per capita is increasing, real output is: A) growing less rapidly than the population.…
A: The economies around the globe tend to get involved in various economic activities, such as the…
Q: Ole or the key factors that determine an economy's real GDP is labor productivity, which is a…
A: Real GDP: It is a measure of the GDP of a country that has been adjusted for inflation.
Q: If nominal GDP for 2016 is valued at R3 625m and nominal GDP for 2017 is valued at R3 812m, then it…
A: Nominal GDP = Current year quantity * Current year price. Real GDP = Current year quantity * Base…
Q: Suppose Botswana’s nominal GDP increases from $200 billion in 1998 to $250 billion in 1999.…
A: Economic growth , which can be estimated in both real and nominal terms, exhibits an increment in…
Q: 1) Consider a country in which three goods (A, B, and C) are produced. The following table shows…
A: Hi! Thank you for the question. As per the honor code, We’ll answer the first question since the…
Q: Suppose that work hours in New Zombie are 300 in year 1, and productivity is $10 per hour worked.…
A: Real GDP: - it is the inflation-adjusted value of all final goods and services produced in any…
Q: An economy produces three products, bags, computers and shirts. The prices and quantities of these…
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…
Q: Q18. Consider the following data for Tyrovia, a country that produces only two products: guns and…
A: "GDP represents the market value of all the final commodities and services produced in a nation at a…
Q: Suppose that nominal GDP was $9500000.00 in 2005 in Fairfax County Virginia. In 2015, nominal GDP…
A: since you have asked a multipart question and according to our policy we can solve the first 3 parts…
Q: 1 a. US GDP was 14,419 billion in 2009 and 14,964 billion in 2010. What was the percentage increase…
A: GDP: The Economic growth of a country is measured in GDP terms where GDP is the measurement of the…
Q: Labor Productivity) Identify at least four definable periods of labor productivity growth beginning…
A: The five perceptible times of work profitability development in us starting just after war II are as…
|
a
|
The amount of capital used by firms
|
|
b
|
The
|
|
c
|
Available technology
|
|
d
|
Available stock of human capital
|
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- What is an aggregate production function?Consider the following data on Prices and Quantities of T-Shirts and Pajamas 4. What wasthe growth rate ofNominalGDP between 2016and 2017? 5. Was the growth rate of real GDP higher or lower that the growth rate of nominalGDP?ExplainWhich of the following is NOT a determinant of long run GDP the price level the amount of labor in an economy the amount of physical capital technology
- Calculate private investment per capita for each year from 2003-2020. What are the per capita growth rates in private investment for the periods 2003-2008 and 2008-2013? And briefly, state what this change in the growth ofprivate investment tell us in terms of aggregate expenditure?14. If output is described by the production function Y = AK0.2L0.8, then the production function has: Select one: A. Constant returns to scale and the share of labor in GDP is 0.2. B. increasing returns to scale and the share of labor in GDP is 0.2. C. Decreasing returns to scale and the share of labor in GDP is 0.8. D. constant returns to scale and the share of labor in GDP is 0.8.Suppose a country has a production function Y=2K0.5L0.5, where K is the amount of capital and L is the amount of labor. The economy begins with 400 units of capital and 625 units of labor. Find numerical answers to the following. Be sure to show your work. What is the real wage and the real rental price of capital? (Hint: Assume the firms are maximizing profit.) Suppose there is a natural disaster and half of the capital is destroyed. What is the new level of output? What is the new real wage and real rental price of capital? How much output does the economy produce? Please answer all part I will rate
- How does the graph look for the effect of a temporary but persistent increase in total factor productivity on current output. I know that the x axis is quality of labour (employment) and the y axis is level of current output but im not sure how the graph should look. Could you show me what the graph should look like?Technological Change and Unemployment: What are some examples of technological changes that have caused unemployment And what are some examples of new technologies that have created jobs How do you think you might measure the net impact of technological change on overall employment and GDP in the United States?Transcribed Image Text:The price and quantity data for Year 1 and Year 2 are as follows: Bread 50 1 Butter 100 Year 1 Quantity Year 1 Price Year 2 Quantity Year 2 Price 80 120 1.60 1.25 What is the ratio of real GDP in year 2 to real GDP in year 1, using year 1 as the base year? Answer Choices: 1.254 b. 1.354 1.434 d. 1.534 a. C. Acivate Windcys
- 2. Use the following information to answer this question. If nominal GDP rises from $100 trillion to $120 trillion, while the GDP deflator rises from 2.0 to 2.2, the percent- age change in real GDP is approximately equal to -10% 10% ] 20% 9.1% E. 0%What is the quantity of real GDP produced if the real wage rate is at the full-employment equilibrium level? If the real wage rate is at the full-employment equilibrium level, real GDP is _______. A. at its highest attainable and efficient level B. equal to potential GDP, which is the most that can be produced C. at or below potential GDP depending on the level of employment D. equal to potential GDP, which is efficient but is not the most that can be producedWhen the Japanese car maker Toyota expands one ofits car factories in the United States, what is the likelyimpact of this event on the gross domestic productand gross national product of the United States?a. GDP rises and GNP falls.b. GNP rises and GDP falls.c. GDP and GNP both rise but GDP rises by more.d. GDP and GNP both rise but GNP rises by more.