9 Introduction to EconomicsPlease solve it very quickly ???? conomics-IECON101-ALL 2020-212/ QUIZES/ ECON 101 QUIZ 1 Spring SemesterEconomic growth comes fromSelect one:apeople willing to increase their skills in whtch case, economic growth is freeb.producing more goods than people want to-consumec.capital accumulation and the avoidance of opportunity costd.capital accumulation and technological advanceagectivityJump to

Capital accumulation and technological advance would increase economic growth.

Answered: 9 Introduction to Economics Please…

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Economics

9 Introduction to Economics Please solve it very quickly ????

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter3: Scarcity, Trade-offs, And Production Possibilities

Section: Chapter Questions

Problem 11P

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Instructions: choose the correct answer below 1. In W.W. Rostow 'Economic Perspective', the preconditions for take-off is describe as a) Growth in normal condition b) Real income per capita increase c) Expansion of the nation modern sectors d) Notable increase in investment 2. A cause of unplanned Urbanization in the Caribbean is a) Natural increase b) Tourism c) Rural development d) Increase manufacturing in urban area 3. According to Caribbean sociologist M. Cross, a problem becomes a social problem when a) It becomes the concern of the entire society of community b) The problem is a personal problem c) A social problem can be appreciated only within the framework of the larger picture d) None of the above 4. In Ryan's 'The Independence Experience', who stated that population growth in the Caribbean is influenced by fertility, mortality and international migration? a) R.T Smith b) M.G Smith c) Norma Abdullah d) J. Barrow 5. Which theoretical perspective…
Based on article "Technology and economic growth: From Robert Solow to Paul Romer" by Rui Zhao, Romer has successfully opened the black box and explained how technology can be produced by an economy without having to rely on external (exogenous) technology. Using the central equations of the Romer’s model, technology (At) can grow to At + 1 due to efforts in R&D and technology spillover. Explain the role of three key sectors in the economy to drive technological-based economic growth.
Some resource-rich countries have succeeded in converting resource wealth into longterm and equitable economic development, while many others have not. Naturalresources have played a fundamental role in the growth of several industrializedeconomies, including Germany and the United Kingdom, where coal and iron ore depositswere a precondition for the Industrial Revolution. The United States was the world’sleading mineral economy from the mid-nineteenth to the mid-twentieth century and in thesame period became the world’s leader in manufacturing (van der Ploeg 2011). Morerecently, countries such as Botswana, Chile, and Norway have used abundant oil andmineral resources as the foundation for economic growth. However, in many othercountries, resource extraction appears to have undermined governance, fed corruptionand capital flight, and increased inequality.Required:(a) Discuss the main challenges posed by resource revenues; and(b) Discuss the special fiscal institutions and mechanisms…
2. (Growth and the PPF) Use the production possibilities frontier (PPF) to demonstrate economic growth. a. With consumption goods on one axis and capital goods on the other, show how the combination of goods selected this period affects the PPF in the next period. b. Extend this comparison by choosing a different point on this period’s PPF and determining whether that combination leads to more or less growth over the next period.
Per capita GDP in the long run: Suppose an economy begins in steady state.By what proportion does per capita GDP change in the long run in responseto each of the following changes?(a) Te investment rate doubles.(b) Te depreciation rate falls by 10%.(c) Te productivity level rises by 10%.(d) An earthquake destroys 75% of the capital stock.(e) A more generous immigration policy leads the population to double.
The ability of an economy to produce greaterlevels of output per time period is calleda. positive economics.b. negative economics.c. economic growth.d. the law of specialization.
Which is microeconomics or macroeconomics? a) A comparison of alternative tax policies and thier respective impacts on the rate of the nation's economic growth b) the effect of government regulations on car emissions c) the decision by Mc Donalds to hire fewer workers becuase of an increase in the minimum wage d) the stock market plunges by 1000 points due to uncertainty
06. Which of the following statements about point E is FALSE? a) production of both X and Y can increase, without more resources or improvement in technology. b) the economy cannot reach this point without more resources or improvement in technology. c) the economy is not producing efficiently. d) both (a) and (c). e) none of the abov
Thomas Robert Malthus believed that population growth would a.put stress on the economts ability to produce food,dooming humans to remain in poverty. b.spread the capital stock too thinly across the labor force,lowering each worker's productivity. c.promote technological progress,because there would be more scientists and inventors. d.eventually decline to sustainable levels,as birth control improved and people had smaller families.
Determine if the following statement is normative or positive: The government expenditure towards infrastructure, research and development and skills and jobs-training programs increases future productivity resulting in rising future output (i.e. GDP).
Why must we change our paradigm of growth and consumption to that of de-development? Elaborate your answer.
We know from the lectures that technical progress (innovation, ideas, knowledge breakthroughs) can help in breaking the barriers to economic growth as discussed in part A). Illustrate the impact of innovation (or technological breakthrough) in the economy by using any two of the economic models discussed in the classes. No explanation required, provide only clearly labelled and self-explanatory diagrams. [Hint: you can choose among AD-AS Model, Production Function diagram and /or Business Cycle model