Is Income determined by the Scarcity of Your Contribution, and Not the Value of Human Worth?

Q: What correlation lies between productivity and the standard of living?

A: The amount of goods and services produced by the average worker in an hour of work is referred to as…

Q: Suppose the skills acquired in school depreciate over time, perhaps because technological change…

A: The optimum level of anything is achieved when the available resources are used both effectively and…

Q: What is Human Development Index?

A: The phase of extending citizens' rights and possibilities and enhancing their well-being is known as…

Q: What are the main characteristics of a mixed economy?

A: When talking about types of economy, mixed economy is the economy with characteristics of command…

Q: Which one is considered a discouraged worker?

A: Discouraged worker is a term frequently used in context of umeployment data. Discouraged workers are…

Q: Suppose that virtually everyone in the United States decides to take life a little easier, and the…

A: Below is the given information: The fall in average workweek = 25%

Q: What is the role of mixed economy?

A: A mixed economy is a type of economic systems like the command economy, private sector economy,…

Q: What is functional literacy?

A: Literacy is characterized as the ability to interpret and write as well as information of a…

Q: Why does the value of output always equal the income received by resources that produced the output?

A: Output – it the total amount of commodities or services produced in a particular time period. It…

Q: Why is productivity important for the economy?

A: Productivity refers to the ratio of quantity of output to quantity of inputs. It describes how…

Q: If education is so important, why don’t people/households as well as the government invest equally…

A: Education is a discipline that's involved with teaching and learning strategies in colleges or…

Q: What comprises middle-income economies

A: For operational and analytical purposes, world bank classifies the economies in three groups: low…

Q: Which action taken by a worker would not be an investment in human capita

A: Investing in human capital will increase workers productivity. It can be done through worker…

Q: An increase of 50 per cent in the cost of a certain consumable product raises the cost of living of…

A: The consumer price index (CPI) is used to measure the weighted basket of goods and services that a…

Q: Which of the following concepts best describe ‘social capital’?  (a)  Skills and qualifications.…

A: 'Social capital' refers to shared values, ideas, information and opportunities, along with trust in…

Q: The smaller the percentage of people who work, the higher the potential output per capita.

A: Potential output is also said as the natural GDP which says the maximum level of real GDP that can…

Q: What is the sector model used for?

A: The sector model, also referred to as the Hoyt model, could be a model of urban land use proposed in…

Q: How is productivity tied to standard of living?

A: Productivity is increased by the education , training or leaning by doond or learning by watching .…

Q: Why is the typical American today more than 10 times richer than thetypical American a century ago?

A: The US economy is now the leader in the capitalist economies around the world. The growth and…

Q: State any two limitations of per capita GDP as an index of economic welfare

A: According to the given question GDP or the gross domestic product is initially known as the…

Q: How does demographic change affect the economy?

A: Answer - Affect of the demographic change on the economy :- 1. Labor force :- The younger…

Q: HIV/AIDS has an impact on all the following areas EXCEPT: a.Household consumption b.Productivity…

A: HIV/AIDS kills and incapacitates grown-ups in the most useful piece of their lives. Subsequently, it…

Q: When does underdevelopment takes place in a country's economy? What is their worst scenario/or the…

A: Development is a term used in the economics to signify improvement in the standard of living of…

Q: What is the advantage of capital gains treatment of income compared to expensing?

A: Capital Gains Income: One of the most sought-after investments is a residential property. The major…

Q: Why is microfinancing an unsuitable concept, according to some critics?

A: Microfinance was first launched in the 1970s as a means of assisting individuals in lifting…

Q: Thomas maltus theory of population and economy

A: Population growth is a hurdle to economic development as it results in an additional burden on the…

Q: What are the factors used to measure economic well being?

A: The economics is derived from the GREEK word OKIONOMIA meaning management of household. It give the…

Q: What is the LPG Model of Development?

A: The LPG Model of Development was introduced by Dr. Manmohan Singh in 1991.

Q: If at the same time that the demand for human capital increases, there is also a reduction in the…

A: Human Capital is defined as an asset that in intangible and includes the qualities of the workers…

Q: What are the relationships between health and education, on the one hand, and productivity and…

A: The basic goals of development are education and health. Both are necessary for improving human life…

Q: The law of increasing opportunity cost arises because of the lack of labour mobility?

A: Opportunity cost refers to the cost of trade offs between goods. If the consumer decides to consume…

Q: Why did classical liberals argue against creating a welfare state?

A: In economics and social aspects, liberalism refers to the ideology according to which people accept…

Q: What is human capital? Is education important in increasing the quality of human capital or not?

A: Human Capital The economic benefit of a laborer's experience and talents is referred to as human…

Q: How does the study of the population affect us as a human beings?

A: Population ecology is the study of how plants, animals and other living things change over time and…

Q: Why does the HUMAN DEVELOPMENT INDEX not include dimensions of participation, gender and equality?

A: Human development is a statistical tool used to measure the overall achievements of a country in…

Q: What is the individual’s human wealth? Total wealth?

A: Wealth: It is the estimation of the relative multitude of assets that are controlled by an…

Q: Why does the U.S. fall at the bottom of family leave entitlements in developed countries ?What would…

A: In "new economy" non-standard schedule works are very common. Over the past decade, the amount of…

Q: How is a traditional economy similar to and different from a mixed economy?

A: An economic system is that system where governments or societies arrange and allocate available…

Q: What is the relationship between the rising cost of living and low-income communities’ standard of…

A: The cost of living is the average amount of money that people in a certain location require in order…

Q: Please provide a short and concise answer to the following question: How is capital defined in…

A: Capital, according to financial capital economics, is an important aspect of running a firm and…

Q: What are the Economic Benefits of Human Capital?

A: In an economy, human capital means the knowledge, skill sets, and experience that workers possess.…