Imagine two countries, i and j. You have the following information: si = 2 sj hi= hj 2Ai = Aj What can you infer about long-run income per worker differences between these countries? Explain formally.
Q: The table gives information about a nation's labor force. What is the labor force participation…
A: Answer: Labor force participation rate: it refers to the ratio of the active labor force and the…
Q: Output per worker is given by yt = A¢k% with a = 1/3. In the year 1900 this country had a…
A: Production Function : y(t) = Atkta where , a = 1/3 y(t) = Output / Labor kt= Capital/labor let…
Q: Briefly discuss why more migrants do not always lead to lower wages? Use the classical model of the…
A: International migration is a strong expression of people's desire to improve their circumstances in…
Q: What is the impact on the labour market due to the arrival of a boatload of Haitian migrants? Select…
A: The migrant workers increase the supply of labor in the market and shift the supply curve to the…
Q: Which one of the following is not an example of sectoral shifts? Group of answer choices a) labor…
A: OPTION D as there is no sectoral shift in this scenario. Sectoral shifts occur when there is a…
Q: Which of the following best describes what leads to an increase in labor productivity? Greater…
A: In the labor market, the firms demand labor services in order to produce output. A firm maximizes…
Q: Which of the following explanations have been offered as reasons for this change in productivity?…
A: Productivity is a measures output for a unit of input such as how much labor is involved and capital…
Q: Labor productivity on the ABC assembly line was 22 units per hour in 2008. In 2009, labor…
A: Labor productivity on the ABC assembly line was 22 units per hour in 2008. In 2009, labor…
Q: Explain the effects of migration of labor between the two nations. Use the figure attached and the…
A: Answer: Introduction: The marginal product of labour: it refers to the additional unit produced when…
Q: Economists use the notation Q = f(L,K) to describe Select one: A. the arithmetic relationship…
A: Q= f (L,K) The given economic notion represents a production function where Q stands for output, L…
Q: Consider a small island country whose only industry is printing. The following table shows…
A: Productivity of a commodity is the total contribution towards the growth of GDP in the economy…
Q: Which of the following statements is false? Select one: a. Even if a country had no technological…
A: Technological progress increases the productivity and boosts the economy. It increases the…
Q: Discuss the following statement: “Higher labor productivity allows firms to produce more goods with…
A: Natural rate of unemployment refers to the full employment level of the economy. The natural rate of…
Q: What is the impact of productivity growth on a nation's inflation rate or level
A: Inflation rate: It means a general rise in the price level in an economy over a period of time.
Q: The outputs per laborer per day in the production of computers and autos in Nation 1 and in Nation 2…
A: c. Nation 2 had comparative advantage in the production of computers. So, only national 2 can…
Q: Differentiate the labor system of the Philippines from traditional to modern era
A: The traditional labor system of phillipines comprised of services sector as top followed by…
Q: The United States experienced a productivity slowdown from 1973 to 1995. Which of the following…
A: United states experienced a productivity slowdown from 1973 to 1995.
Q: What were the broad differences in the balance of power between capital and labor in the US and…
A: Capital is an expansive term that can depict anything that presents worth or advantage to its…
Q: Identify one developed and one developing country. Research their recent economic growth rates.…
A: Consider a developed country United States of America and a developing country India. Economic…
Q: Fishyland is a small country that focuses on her fishing industry. She has a production function of…
A: The production function shows the maximum amount of output an industry is able to produce by using…
Q: Older Workers are A much more likely to migrate than younger workers because older workers have…
A: There are a number of reasons for the migration of people but the primary reason is economic. It is…
Q: Roughly speaking, what fraction of U.S. labor works in factories? In service businesses? In…
A: ANS In Factories : Approximately 14% of the work force In service businesses : Approximately 68.5%…
Q: Which of the following might increase the economy's ability to product output over the long run,…
A: LRAS is long run aggregate supply which is vertical at full employment.
Q: Does Smith think these new low skill jobs created by the Industrial Revolution will be good for…
A: Smith believes that the Industrial Revolution's introduction of low-skilled occupations will benefit…
Q: Output in Rumantily is produced using capital and labor. There is initially a fixed amount of…
A: Total output produced is the total product per period of time. Output per worker is the average…
Q: Using the theory of wage determination, explain why wages in developing countries, where levels of…
A: In economics, wages are determined on the basis of the value of the labor. The value of labor is…
Q: Which event helped to bring a large influx of American women into the workforce for the first time?…
A: The industrial revolution refers to the shift of the economy from production based on labor to…
Q: Make a summary of this article. David, H., & Dorn, D. (2013). The growth of low-skill service jobs…
A: Technological advancements have generated more opportunities to use machines without more using…
Q: Which of these is not an example of factor income from abroad? a. Retained Earnings of companies…
A: Factor income from abroad is the earned income of the citizen of a country from abroad. It can be…
Q: What do you think about the US Economic Growth Rate? What strategies can we use to increase the US…
A: The United States' economic freedom score is 72.1, making it the 25th freest economy in the Index…
Q: According to an article by the Wall Street Journal, the U.S. is at risk of running out of…
A:
Q: Which of the following does theory of labor migration predict? a. Workers are likely to migrate…
A: When analyzing labor behavior in the labor market, the theory of migration is used to describe the…
Q: In 2015, many unskilled workers in the United States earned the federal minimum wage of $7.25 per…
A: Given that the earning of minimum wage workers is $7.25 per hour, the earning of an average worker…
Q: In 1950’s and 60’s the average GDP per capita growth reached 8 % in Japan and approximately 3 % in…
A: In terms of nations wealth, USA is considered to be more richer Japan. Its GDP is greater Japan.…
Q: Complete the following tables by entering productivity (in terms of output per worker) for each…
A: If the economies of Blahnik and Globblediggok produces glops of gloops using only two tools and…
Q: Determine which of the following statement about economic growth and labour productivity is true or…
A: Economic growth and labor productivity has very close relationship as improved labor productivity…
Q: Which of these statements is true about the circular flow of income? a. Goods and services move from…
A: Circular flow of income is a model that shows the exchange of goods and services as well as among…
Q: Say that the average worker in Canada has a productivity level of $30 per hour while the average…
A: Labor productivity is also known as work force productivity. It is defined as the amount of goods…
Q: In 2015, many unskilled workers in the United States earned the federal minimum wage of $7.25 per…
A: Skilled labor refers to those laborers who are highly trained, educated, and having more experienced…
Q: Which of the following changes would increase labor productivity? Group of answer choices Workers in…
A: Labor productivity is the amount of goods and services that a group of workers produce in a given…
Q: Sector-biased technological progress cannot explain that both skill premium and skilled labour…
A: Skilled labor is a subgroup of the workforce with specialized knowledge, training, and experience to…
Q: Some trade unions fear that the free movement of people depresses wages of ordinary workers because…
A: The European Union provides the freedom of movement for the people within the member countries. That…
Q: Tyson and Ella work at Ruby red movie theater. Tyson can produce 100 bags of popcorn or 50 got dogs…
A: In order to find the total number of bags of popcorn and hot dogs produced by the two workers…
Q: Imagine two countries, i and j. You have the following information: si = 2 sj s= saving rate hi=…
A: Given, There are two countries "i" and "j" Income is defined as money or the equivalent value that…
Imagine two countries, i and j. You have the following information:
- si = 2 sj
- hi= hj
- 2Ai = Aj
What can you infer about long-run income per worker differences between these countries? Explain formally.
Step by step
Solved in 4 steps
- Suppose Nation B has 8,623 labor hours each year to produce burgers and fries. Burgers take 13 hours to produce each, and fries take 7 hours to produce each. Suppose Nation B also sees a sudden surge in working-age immigrants, leading to 26% higher labor hours each year. What is the maximum number of fries is Nation B able to produce in a year after this surge of immigration? Round your answer to one place after the decimal point (0.1).Consider two competitive economies that have the same quantities of labor (L = 400) and capital (K = 400), and the same technology (A = 100). The economies of the countries are described by the following Cobb–Douglas production functions: North Economy: Y = A L.3K.7 South Economy: Y = A L.7K.3 In which economy is the real wage larger? Explain.What does the concept “global labour arbitrage” refer to? Identify two processes associated with global labour arbitrage. Explain how they relate to the concept of global labour arbitrage.
- Let's see how many jobs have to be destroyed for one net job to be created. As noted in the text, millions of jobs are created and destroyed every month. Suppose that 5 million jobs are destroyed every month and 5.25 million jobs are created. What is the net job creation? Net job creation: million How many total jobs are destroyed for every net job created? Total jobs destroyed for every net job created:In 2015, many unskilled workers in the United States earned the federal minimum wage of $7.25 per hour. By contrast, average earnings in 2015 were about $23 per hour, and certain highly skilled professionals, such as doctors and lawyers, earned $100 or more per hour. Instructions: In parts a and c, round your answers to 2 decimal places. In parts b and d, enter your answers as whole numbers. a. If we assume that wage differences are caused solely by differences in productivity, how many times more productive was the average worker than a worker being paid the federal minimum wage? How many times more productive was a $100-per-hour lawyer compared to a worker earning minimum wage? b. Assume that there are 20 minimum-wage workers in the economy for each $100-per-hour lawyer. Also assume that both lawyers and minimum-wage workers work the same number of hours per week. If everyone works 40 hours per week, how much does a $100-per-hour lawyer earn a week?…In Year 1, Y=2,000, K=1,700, N=70, and, in Year 2, Y=2,100, K=1785, and N=75. Suppose that the production function is given by Y=AK0.25N0.75. Between Year 1 and Year 2 the total factor productivity of this economy changed by
- Q5. Suppose that country I initially has a higher marginal product of labor (MPL) than country II. What is the direction of labor migration? Use a world labor-market graph to show the effect of migration on the wage rates of the home country and the destination country. How will the returns to capital and GDP be affected by emigration in the home country? Discussion: what other effects could emigration cause in the home country that are not captured in the model?Consider a small island country whose only industry is fishing. The following table shows information about the small economy in two different years. Complete the table by calculating physical capital per worker as well as labour productivity. Hint: Recall that productivity is defined as the amount of goods and services a worker can produce per hour. In this problem, measure productivity as the quantity of goods per hour of labour. NOTE: both drop down questions choices are (an increase or, decrease)Consider a small island country whose only industry is printing. The following table presents information about this small economy in two different years. Complete the table by calculating physical capital per worker and labor productivity. Hint: Recall that productivity is defined as the amount of goods and services a worker can produce per hour. In this problem, measure productivity as the quantity of goods per hour of labor.
- Imagine two countries, i and j. You have the following information: si = 2 sj s= saving rate hi= hj h=human capital 2Ai = Aj A=technology What can you infer about long-run income per worker differences between these countries? Explain formally.Q14 Which of the following statements is false? Select one: a. Even if a country had no technological progress, its total factor productivity could increase. b. Even if a country's workforce stayed the same, there could be an increase in human capital. c. If a country's GDP per head rose by 3% a year, it would take about 33 years for its output GDP per head to double. d. Even if a country acquired no extra resources, its output could grow.Determine why a source country experiences both an outflow of low-skilled workers and an outflow of high-skill workers at a time. Graphically illustrate the returns to skill in the destination and source countries. The graph that I made is attached to this question. What I am trying to figure out is where might one get the idea of nonlinearity and what circumstances would generate the pattern in the figure with respect to both the source and destination countries?
