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
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- 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 businessQuestion 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 businessClassify 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
- 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 5For a given level of technology, the level of labor productivity would increase in all of the following situations except when: A. there is an increase in natural resources per worker B. there is an increase in human capital per worker C. there is an increase in physical capital per worker D. there is an increase in labor
- 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.An increase in the amount of physical capital per worker _________, while technological progress ________. Group of answer choices A) shifts up the aggregate production function; moves the economy along the aggregate production function B) moves the economy along the aggregate production function; shifts up the aggregate production function C) makes the aggregate production function steeper; changes the slope of the aggregate production function D) makes the aggregate production function steeper; makes the aggregate production function flatterWhy does adding capital to a production function make the economy more productive? What are diminishing returns to capital? How does technology affect productivity and growth?
- 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.Suppose you are given the aggregate production function for an economy and the amount of available technology increases for this economy. If labor and capital constant are held constant, increase in technology will causes labor productivity to decrease. True FalseShow graphically on the same x and y axis what happens to this production function if there is a technological advancement in this economy. Don,t copy from anywhere.