70,0001Norway60,000United States50,000-NetherlandsDenmark •.GermanyFrance40,000-:UKSouth KoreaJарan.Italy"• Spain30,000-Greece Russia20,000-MexicoChileTurkey10,000-0.6,400 6,500 6,600 6,700 6,800 6,900 7,000 7,100 7,200 7,300 7,400 7,500Average annual hours of free time per workerAccording to the graph:Select one or more:а.UK workers have more free time than Greek workers.b. UK workers have lower GDP per capita than Spanish workers.O c. The relationship between GDP per capita and free time is downward sloping.d. US workers work longer hours than French workers.GDP per capita (USD PPPS) Consider this production function.Study hours1 28 9 10 11 1215 or more456.1314Grade20334250576369 73 78 81 84 86 88 8990100190+80-70어60-50+4030어20어10-3)1.1.2)1.Hours of study per daySelect one or more:The average product of labour is falling as hours of study increase.а.b.The marginal product of labour is constant as hours of study increase.The marginal product of labour is rising as hours of study increase.C.d. The marginal product of labour is zero beyond 15 hours.Final grade-2-22-

[1] Lets discuss options one by one:-a. UK workers have more free time than Greek workers.Ans. UK's…

Consider this production function. Study hours 1 4 5. 10 11 12 13 14 15 or more Grade 20 33 42 50 57 63 69 73 78 81 84 86 88 89 90 100, 90 80- 70 6어 50 40 30어 20- 10 3. 2. 23 43 1. 11 1. 2. Hours of study per day Select one or more: а. The average product of labour is falling as hours of study increase. b. The marginal product of labour is constant as hours of study increase. с. The marginal product of labour is rising as hours of study increase. d. The marginal product of labour is zero beyond 15 hours. Final grade 18- 22-

Consider this production function. Study hours 1 4 5. 10 11 12 13 14 15 or more Grade 20 33 42 50 57 63 69 73 78 81 84 86 88 89 90 100, 90 80- 70 6어 50 40 30어 20- 10 3. 2. 23 43 1. 11 1. 2. Hours of study per day Select one or more: а. The average product of labour is falling as hours of study increase. b. The marginal product of labour is constant as hours of study increase. с. The marginal product of labour is rising as hours of study increase. d. The marginal product of labour is zero beyond 15 hours. Final grade 18- 22-

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter34: Globalization And Protectionism

Section: Chapter Questions

Problem 43CTQ: How can governments identify good candidates for infant industry protection? Can you suggest some...

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