In the mid-1990s, it appeared that productivity growth increased substantially in the U. S, economy. Was there some revolutionary new invention, an increase in education, or an increase in capital that caused the change?

Q: From 2015 to 2018, the following statistics apply to Country A and Country B is depicted in the…

A: Nominal GDP includes both the growth and prices. Real GDP shows only the growth in the economy. Real…

Q: The table below gives the growth statistics for the USA in the last 15 years. Growth Rate (% per…

A: Given that  Output per worker =1.23% Capital stock per worker =0.83% Expected growth of real wages…

Q: If a nation’s productivity grows by 3 percent rather than 1.5 percent over many years, what will be…

A: A nation's productivity refers to the level of production that the economy is able to achieve with…

Q: “Social and institutional innovations are as important for economic growth as technological and…

A: The development procedure of a country needs new technology to keep growing and challenge the world…

Q: International data show a positive correlation between political stability and economic growth.…

A: Political instability refers to the uncertainty that is associated with government collapse due to…

Q: Evaluate the view that increased investment is the most important factor in achieving a faster rate…

A: Economic growth: - economic growth is the increase in the quantity of goods and services in an…

Q: With reference to a Cobb-Douglas production function, if a country has a declining labor share that…

A: Cobb-Douglas Production Function Cobb-Douglas production function Shows the relationship of the…

Q: The government can achieve permanent higher growth rates by having two determinants of growth. The…

A: There are two determinants that can achieve permanent and higher economic growth. Capital…

Q: describe the process by which a decrease in income taxes impacts economic growth.

A: The aggregate output function, as well as the labor demand and supply curves, decide the direction…

Q: Economic growth is best defined as an increase in:

A: It is important to measure economic growth for knowing the the position of countries economy.

Q: In your opinion, why do some countries experience sustained levels of high growth that propel them…

A: When comparing one period of time to the next, economic growth is described as an increase in an…

Q: Explain the characteristics of knowledge and its effects on economic growth by comparing Labor and…

A: Human capital: - it is an asset in the form of the efficiency of a worker which is related to the…

Q: Explain why there is such a close relationship between changes in a nation’s rate of productivity…

A: ANS Purchasing power (PP) of wage (income) is the amount of services & goods that can be…

Q: Year GDP Per Capita Population Capital Labor Education 1960 1,224.79 40,818.61 24.749 208,509.8…

A: With the given information, we calculate GDP= GDP Per Capita* Population and GDP Per Worker=…

Q: Explain how institutional factors promote economic growth in these areas:  promotion of modern…

A: Economic growth is an increase in the production of economic services and goods being compared from…

Q: Why do diminishing returns not limit growth in new growth theory? Diminishing returns do not limit…

A: New Growth Theory states that knowledge about how to produce goods and services is an important…

Q: Are higher long-run capital-income ratios associated with lower growth rates?

A: The Solow model is an economic growth model that examines the change in the output level in an…

Q: Two countries start with the same real GDP per capita. Country A’s real GDP per capita is growing at…

A: Country B real GDP per capita same as country A-6.6% After 140 years,it would be 6.6*4=26.4

Q: Social and institutional innovations are as important for economic growth as technological and…

A: A nation earning a positive income/GDP can be termed as its "growth", but with a positive social…

Q: is it true or false that the growth rate of the GDP per worker for an economy where the capital to…

A: The quantity of capital required to create one unit of output is referred to as the capital output…

Q: List the areas where government policy can help economic growth

A: Government policies are designed, implemented, run for the welfare of society. Their main is to…

Q: Economic growth is advantageous to a nation because it (A) promotes faster population growth. (B)…

A: Scarcity is a problem that exists when there are not enough goods and services available in the…

Q: Discuss the function of technological progress and how it adds to the process of economic growth…

A: Economic growth is defined as the increase in the production of goods and services compared to…

Q: Since the late 1950s, economists have performed growth accounting studies in the United States.…

A: Physical capital mainly consists of tangible as well as man made objects that a company either buys…

Q: balanced growth

A: Economic growth implies increase in production of goods and services. Increase in human capital,…

Q: Understanding of growth is important because it means that the country wants to grow in which region…

A: Economic growth refers to an increase in the value of goods and services produced in the economy…

Q: What were the effects of  Divergence on economic growth in Europe and China?

A: Researchers have proposed a wide combination of speculations to explain why the Great Divergence…

Q: THREE reasons why a country economy is not productive and there is no economic growth. Ensure that…

A: Economy: It refers to the region or a state where the population stays or where the resources are…

Q: In the period of 1950-1973 the GDP average growth rate reached 9.3 % in Japan and approximately 4 %…

A: Gross Domestic Products defined as the total of market values of al final goods and service. GDP…

Q: Long-run economic growth can occur as a result of

A: Economic growth occurs as a result of increase in GDP.

Q: International data show a positive correlation between political stability and economic growth.…

A: Example of a country where there is no strong economic growth because of no political stability is…

Q: How does labor and capital disaggregation affect less developed countries that want robust economic…

A: Asymmetric information is a basic friction in the labor market that causes mismatches and efficiency…

Q: Describe Factors that may hinder economic growth

A: Economic growth refers to a rise in the production of economic goods and services, compared from one…

Q: List the factors that account for increases or decreases in productivity growth rates.

A: The measure that depicts the number of goods and services or output being produced by making use of…

Q: What is the difference between extensive and intensive growth? Why was the Soviet Union successful…

A: Extensive growth and Intensive growth are based on productive quantity and productive capacity.

Q: Which of the following is NOT a method for promoting global economic growth? Count on the world’s…

A: Economic growth refers to the increment in the gross domestic product of the country in quantitative…

Q: country of Azard, businesses use new smart cell phones to speed up many tasks such as sales…

A: Cell phones are an indispensable piece of business hardware for some entrepreneurs and their staff.…

Q: List as many causes of economic growth

A: Economic growth refers to an increase in the total value of all the goods and services produced in a…