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- Some resource-rich countries have succeeded in converting resource wealth into longterm and equitable economic development, while many others have not. Naturalresources have played a fundamental role in the growth of several industrializedeconomies, including Germany and the United Kingdom, where coal and iron ore depositswere a precondition for the Industrial Revolution. The United States was the world’sleading mineral economy from the mid-nineteenth to the mid-twentieth century and in thesame period became the world’s leader in manufacturing (van der Ploeg 2011). Morerecently, countries such as Botswana, Chile, and Norway have used abundant oil andmineral resources as the foundation for economic growth. However, in many othercountries, resource extraction appears to have undermined governance, fed corruptionand capital flight, and increased inequality.Required:(a) Discuss the main challenges posed by resource revenues; and(b) Discuss the special fiscal institutions and mechanisms…What is the opportunity cost of investing in Capital? Do you think a country can overinvest in capital? What is the opportunity cost of investing in human capital? Do you think a country can overinvest in human capital? Explain and give the example in country that overinvest in capital and human capital!True or False. Because older adults have more human capital, they are more likely to migrate to another country than younger adults.
- TRUE or FALSE 11. A high fertility rate reduces the per capita income, be it the Gross National Income per Capita or the Gross Domestic Product per capita. 12. The natural environment can bring about an increase or decrease in the population growth rate. 13. Rapid population growth does not necessarily reflect market failure. 14. Urbanization and localized economies lead to resource immobility 15. The most relevant advantage of locating a firm in an Industrial District is knowledge spillover. 16. The K -12 Program added years to basic education but Philippines student learning still lags behind many East Asian countries. 17. Investment in human capital is beneficial in the short run but investment in physical capital is beneficial in the long run. 18. Centralized urbanization leads to underdeveloped peripheral economies. 19. Improving hard infrastructures rather than soft infrastructures is absolutely a…The question am asking is based on the capabilities approach developed by A. Sen. My question is How the Human Development Reports incorporate capabilities as they measure human development?.What is the opportunity cost of investing in Capital? Do you think a country can overinvest in capital? What is the opportunity cost of investing in human capital? Do you think a country can overinvest in human capital? Explain with your own language and give the example of country that overinvest in capital and human capital!
- This is a really straightforward problem of human capital acquisition. Let ht stand for generation t's human capital (i.e., human capital of people born in year t). Assume that education spending, represented by x and quantified in $1,000 US dollars, builds human capital. If x = 30, the entire expenditure is 30,000 dollars, and the individual's human capital is ht = 2x.Assume that everyone has the same amount of human capital and that production per person is the same.Individual is yt = Aht, where A > 0 is a constant technological parameter.Find yt's (long-term) growth rate. Display all of your work and explain how you arrived at your conclusions.Assume that a country's production function is Y = K1/2L1/2 and there is no population growthor technological change.a. What is the per-worker production function y = f (k)?b. Assume that the country possesses 40,000 units of capital and 10,000 units of labor. What isY? What is labor productivity computed from the per-worker production function? Is thisvalue the same as labor productivity computed from the original production function?c. Assume that 10 percent of capital depreciates each year. What gross saving rate isnecessary to make the given capital–labor ratio the steady-state capital–labor ratio? (Hint:In a steady state with no population growth or technological change, the saving ratemultiplied by per-worker output must equal the depreciation rate multiplied by the capital–labor ratio.)d. If the saving rate equals the steady-state level, what is consumption per worker? Only D, other option answeredAssume that a country's production function is Y = K1/2L1/2 and there is no population growthor technological change.a. What is the per-worker production function y = f (k)?b. Assume that the country possesses 40,000 units of capital and 10,000 units of labor. What isY? What is labor productivity computed from the per-worker production function? Is thisvalue the same as labor productivity computed from the original production function?c. Assume that 10 percent of capital depreciates each year. What gross saving rate isnecessary to make the given capital–labor ratio the steady-state capital–labor ratio? (Hint:In a steady state with no population growth or technological change, the saving ratemultiplied by per-worker output must equal the depreciation rate multiplied by the capital–labor ratio.)d. If the saving rate equals the steady-state level, what is consumption per worker?
- If country A produces 6,000 units of goods and services using 600 hours of labor, and country B produces 5,000 units of goods and services using 450 units of labor, then productivity is higher in Country B than in Country A. Select one: a. Fales. b. True.What are the possible sources of capitalWhat happens in terms of opportunity cost as one gets more educated? ex. 2yr degree, 4 yr. degree, MS. degree, PhD