Briefly discuss the macroeconomic benefits of a highly educated and skilled work force and then explain how government could do more to encourage increased R&D activities.
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- Briefly discuss the
macroeconomic benefits of a highly educated and skilled work force and then explain how government could do more to encourage increased R&D activities.
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- Explain how steady-state economy helps to avoid resource depletionIt is arguable that the construction and housing industries are ideal to play the role of engines forgrowth in developing countries. Using available secondary data and information discuss thispoint of view. At a minimum, your paper should address the following:A. Ways by which we measure economic performanceB. How the housing and construction industries contribute to economic performanceC. Cycles/patterns of activities in both industries and GDPD. Significance of the multiplier effectYou may use examples or data from Trinidad that is a developing country to support your arguments. Answer in essay formatIn 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 ".
- 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).Q4.Romer model predicts that the more labor you dedicate to generating ideas, the a) faster you accumulate knowledge and a gain to current output in the consumption sector. b) slower you accumulate knowledge and at a loss to current output in the consumption sector. c) faster you accumulate knowledge but at a loss to current output in the consumption sector. d) none of the above. d) should hire more labor until MP L = wIn macroeconomics, the connection from inputs to outputs forthe entire economy is called _______________. a)physical capital b)a production function c)human capital d)an aggregateproduction function
- Is a planned economy just the same as a large MNC in allocating the means of production?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)In his 2020 State of the Nation Address (SoNA), president of South Africa humbly noted... "Even if we [the government] were to marshal every single resource at our disposal, and engage on a huge expenditure of public funds,we would not alone be able to guarentee employment to the millions of people who are out of work". Without growth there will be no jobs,and without jobs there will be no meaningful improvement in the lives of our people". Using the South African SoNA 2020 as a reference,discuss the examples of the different ways that South African government intervenes in the economy.
- How so gains in worker productivity lead to gains in per capita GDP? A. as workers produce, their wages will rise and they will have more disposable income for consumption, leading to a rise in GDP per Capita. B.The amount a worker can produce and that worker's income are exactly equal so that these numbers stay the same. C.The amount a worker can pproduce and that workers's income are not always exactly equal, so these numbers may differ. D. An aggregate production function describes the input of an entire economy based on various outputs such as capital, labor and technology.In the Malthusian model, suppose that the quantity of land increases. A) using diagrams, determine what effects this has in the long-run steady state and explain your results. b)Plot what happens to the following variables over time as a result of the increase in the quantity of Land, population size and consumption per personExplain 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.
