Classify each of the following as a movement along or a shift of the production function and provide a justification for your choice. An increase in the number of machines used in production, an increase in the population growth rate, a new technological innovation,the government invests in a new entrepreneurship training program, the government implements major reforms to make it easier to transact business

Classify each of the following as a movement along or a shift of the production function and provide a justification for your choice. An increase in the number of machines used in production, an increase in the population growth rate, a new technological innovation,the government invests in a new entrepreneurship training program, the government implements major reforms to make it easier to transact business

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter16: Economic Growth

Section: Chapter Questions

Problem 15E

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Question 4 Classify each of the following as a movement along or a shift of the production function and provide a justification for your choice. (i) An increase in the number of machines used in production (ii) An increase in the population growth rate (iii) A new technological innovation (iv) The government invests in a new entrepreneurship training program (v) The government implements major reforms to make it easier to transact business
Classify each of the following as a movement along or a shift of the production function and provide a justification for your choice. (1)An increase in the number of machines used in production (2) An increase in the population growth rate (3) A new technological innovation
Which one of the following is not a determinant of productivity? A greater stock of labor. More human capital per worker. More physical capital per worker. Technological advancement. All of the answers are determinants of productivity.
Many countries, including Pakistan, import substantial amounts of goods and services from other countries. However, economists claim that a country 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? (Maximum 100 words). Given the production function Y= AF (L, K, H, N), explain the determinants of productivity. ( Maximum100 words). Population growth has a variety of effects on productivity. Explain this statement and justify your answer. (Maximum 200 words).
Classify each of the following as a movement along or a shift of the production function and provide a justification for your choice. (i) An increase in the number of machines used in production (ii) An increase in the population growth rate (iii) A new technological innovation (iv) The government invests in a new entrepreneurship training program (v) The government implements major reforms to make it easier to transact business solutions fpr 3,4 and 5
All of the following lead to an increase in productivity except for a. an increase in physical capital b. an increase in the size of the labor force c. an advance in technological knowledge d. an increase in human capital
According to economists, productivity can be increased by Group of answer choices - improving the education of workers - raising minimum wages - raising union wages - restricting trade with the foreign countries
Which of the following best describes what leads to an increase in labor productivity? Greater output per worker. More effective education per worker. An increase in the number of workers. An equal increase in technology and workers. All of the answers are correct.
• Which of the following is not a requirement for increased growth? a. Capital expenditure b. Increased labor force c. Increased productivity d. Increased human capital e. All of the given choices f. None of the given choices g. First and second choice only • Within the framework of the Production Possibility Frontier, Which of the following options is not a component of economic growth? a. Price controls b. Technological advancement c. Physical capital and human capital formation d. Labor force growth e. All of the given choices f. None of the given choices g. First and fourth choice only
Why does an increase in the labor force cause the Market Productivity of Capital to increase?