Labor productivity on the ABC assembly line was 22 units per hour in 2008. In 2009, labor productivity was 21 units per hour. What was the productivity growth/ decline from 2008 to 2009.
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Labor productivity on the ABC assembly line was 22 units per hour in 2008. In 2009, labor productivity was 21 units per hour. What was the productivity growth/ decline from 2008 to 2009.
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- For a given level of technology, the level of labor productivity would increase in all of the following situations except when: A. there is an increase in natural resources per worker B. there is an increase in human capital per worker C. there is an increase in physical capital per worker D. there is an increase in laborThe graph below represents per-worker production functions for the same country. Answer the following questions using this graph. Which 1 concept explains that the area between B and C has a flatter slope than the area between A and B? Answer: Law of Diminishing Marginal Returns What has to happen for a country to move from point E to B to D? Answer: The movement through which 3 points (out of 5 given) would indicate the largest increase in productivity? Answer:Which of the following statements about labour productivity (Y/L), also known as the average product of labour are correct? Select one or more: a. With a standard production function, if L falls, without any change in technology or capital, labour productivity must rise b. A rise in labour productivity at the same time as a rise in employment is logically impossible c. A rise in labour productivity must imply job losses d. If Y is fixed a rise in labour productivity must imply job losses
- The population growth rate increases by 10%. What would be the impact on the country's production function? Select one: a. movement upwards along the same curve a. movement upwards along the same curve b. movement downward along the same curve b. movement downward along the same curve c. remain unchanged c. remain unchanged d. shift outwards d. shift outwards e. shift inwardsChoose the following opton: 1) In the very long run, across the next fifty years, a country’s economic standard of living as measured by Real GDP Per Person can grow steadily as a result of sustained growth in one of the following two values. The correct focus of growth policy will be to promote: (a) Labor Productivity (b) Total Labor Effort 2) The correct answer to Q#1 is a consequence of which feature of any country’s economy. In the very long run, fifty years and beyond: a) Total Labor Effort (Aggregate Labor Hours) can grow faster than a country’s Population. b) Total Labor Effort (Aggregate Labor Hours) cannot grow faster than a country’s Population.Suppose that the per-worker production (labour productivity) function in South Korea is Y over L equals A open parentheses K over L close parentheses to the power of 0.4 end exponent open parentheses H over L close parentheses to the power of 0.6 end exponent. South Korea's labor productivity rises 6% per year, capital-labour ratio rises 5% per year, and human capital per worker rises 2% per year. This information suggests that total factor productivity grows at _________ per year.
- What are the current productivity trends in Australia?(Labor Productivity) Identify at least four definable periods of labor productivity growth beginning right after World War II. During which periods was productivity growth lowest and why? (Refer to Exhibit 6 in the chapter.)Suppose that K(t+5)/N > K(t+3)/N, where K(t+3) is capital in period t+3 and K(t+5) is capital in period t+5. Output per worker, Y/N, in period t+3 is ____ in period t+4. less than equal to greater than
- Many countries, including Pakistan, import substantial amounts of goods and services from other countries. However, economists claim that a country can enjoy a high standard of living only if it can produce a large quantity of goods and services itself. Can you reconcile these two facts? (Maximum 100 words). Given the production function Y= AF (L, K, H, N), explain the determinants of productivity. ( Maximum100 words). Population growth has a variety of effects on productivity. Explain this statement and justify your answer. (Maximum 200 words).The aggregate production function is Y = 3KL. If there are 20 units of capital and 50 units of labor, what is capital productivity? Group of answer choices 300 1000 600 150Write the production function in its simplest form (human capital being included in TFP) and explain the nature of each factor as well the theoretical value of the parameter Alpha. In other words what does the value of Alpha represent regarding the returns of each factors of production?