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Hello, Can you explain?
Can a technological advancement in sector “ X” of the economy affect the number of people who work in sector “Y” of the economy? Explain.
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- Explain how a technological advancement in one sector of the economy can lead to a change in the number of people who work in another sector of the economy. Give an example to help support your answer.If two economies are identical, except the savings rate in one economy is higher, explain why we might expect the economy with the higher savings rate to grow faster and in that sense be healthier.Suppose that, in an imaginary country, the last decade witnessed a flow of employment from coal mining to automotive industry. Explain why would this change most possibly create positive affects on real GDP per capita?
- Assume that an economy has 1,000 workers, each working 2,000 hours per year. If the average real output per worker-hour is $20, then total output, or real GDP, will beResource consumption per person in the United States is either flat or falling, depending on the resource. Yet living standards are rising due to improvements in technology that allow more output to be produced for every unit of input used in production. What does this say about the likelihood of our running out of resources? Could we possibly maintain or improve our living standards even if the population were expected to rise in the future rather than fall?In macroeconomics, the connection from inputs to outputs for the entire economy is called _______________. Question options: a) physical capital b) a production function c) human capital d) an aggregate production function
- In economic terminology, the inputs used to make goods and services are referred to as A. intangibles . B. factors of production. C. real output . D. durables and nondurables.We live in a world where computers and other items of technology seem to get ever cheaper to produce. Such technology is important in the production of a vast range of consumer goods. We wish to analyse the impact of this phenomenon on two key pieces of economic data. The main impact of the decreasing cost of technology is that (select from consumption/investment/government spending/exports/imports/economy-wide production costs/wage costs) would (Select increase/decrease) This would shift the (Select one from the picture attached) which (Select: Increse or decreases the price level) and (Select: increases or decreases GDP) Suppose that the economy is now away from long run equilibrium (GDP is above Yf). The way that the economy adjusts back to equilibrium is that (Select: interest rates/the exchange rate/factor prices such as wages/governement spending) (Select: Increases/decreases). This shifts the (Select one from the picture attached)How can an economy increase the production of one good without reducing the production of another? Identify at least three factors that contribute to this increase and explain how they contribute to the increase.
- The determinants of productivity Consider a simple economy whose only industry is fishing. In this industry, productivity—the amount of goods and services a worker can produce per hour—is measured by the number of fish one fisherman catches per hour. In the following table, match each example to the productivity determinant it represents. Examples Human Capital per Worker Natural Resources per Worker Physical Capital per Worker Technological Knowledge The fertile waters in which the fish feed and breed An advanced mapping system that determines the likelihood of finding fish schools in different depths and locations The skills workers develop through training before working on and piloting boats The boats in the fishing fleetWhy would you expect an inverse relationship between self-sufficiency and real GDP per capita?In his 2020 state of Nation address (SoNA) president of South Africa humbly noted that... '' Even if we (the government) were to Marshall every single resource at our disposal, and engage on a huge expenditure of public funds, we would not alone be able to guarantee employment to the millions of people who are out of work ''. and that '' Without growth there will be no jobs, and without jobs there will be no meaningful improvement in the lives of our people ".
