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This is associated with the Knowledge Economy:
A) The beginning of the settlement of people in towns
B) The beginning of the widespread use of computers
C) The beginning of the factory system
D) None of the above
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- Economic growth is the process of Group of answer choices All of the above producing more agricultural products and more industrial products. increasing real output. expanding the production possibilities frontier.This is not a writing assignment, this is a multiple-choice question Wheelan discusses why some economies are rich (or have been able to come out of poverty) while others are still poor. Question: Wheelan lists the conditions necessary for economic development. Which of the below is NOT a NECESSARY condition for economi development? Group of answer choices Responsible fiscal and monetary policy. Possession of large amounts of natural resources. Well-developed and plenty of human capital.Some resource-rich countries have succeeded in converting resource wealth into longterm and equitable economic development, while many others have not. Natural resources have played a fundamental role in the growth of several industrialized economies, including Germany and the United Kingdom, where coal and iron ore deposits were a precondition for the Industrial Revolution. The United States was the world’s leading mineral economy from the mid-nineteenth to the mid-twentieth century and in the same period became the world’s leader in manufacturing (van der Ploeg 2011). More recently, countries such as Botswana, Chile, and Norway have used abundant oil and mineral resources as the foundation for economic growth. Discuss in depth, based on your understanding of the various sources of fiscal risks what complicates fiscal management in resource rich countries. Taking Zambia as a case study, suggest ways in which these risks can be managed.
- Which of the following statements is accurate regarding entrepreneurs? Economic changes can be both good and bad for entrepreneurs. The only asset a person needs to be a successful entrepreneur is a willingness to take risks. If a business fails, the government will be responsible for any losses. Entrepreneurs need to have a college degree to start a business.Discuss the following statement: “Those who argue that technological progress does not reduce employment should take a look at agriculture. At the start of the last century, there were more than 11 million farm workers. Today, there are fewer than 1 million. If all sectors start having the productivity growth that took place in agriculture during the 20th century, no one will be employed a century from now.”The use of knowledge to improve productivity and enhance economic growth is known as Group of answer choices accumulation of physical capital. invention. innovation. All of the above
- According to economists, productivity can be increased by Group of answer choices - improving the education of workers - raising minimum wages - raising union wages - restricting trade with the foreign countriesmacroeconomics multiple choice question 28. Country A has a GDP-per-capita of $500, and Country B has a GDP-per-capita of $75,000. Which of the following is NOT a plausible reason for Country B’s higher GDP-per-capita?(A) Country B has more open and inclusive economic and political institutions. (B) Country B has more natural resource wealth.(C) Country B has lower productivity.(D) Country B has more capital. 29. After lockdowns were declared globally in 2020, the price of oil crashed from $64 per barrel in January to $18 per barrel in April. What is the most likely reason that lockdowns contributed to the oil price crash?(A) Supply increased due to oil companies reallocating resources to help with the COVID-19 pandemic.(B) Supply decreased due to oil workers being furloughed.(C) Demand increased from factories producing Personal Protective Equipment for essential workers.(D) Demand decreased since fewer people were commuting to work.Which of the following is not urbanisation process. A.Agglomeration B.Population boost C.Economic growth D.Urban Hierarchy
- What happens in the steady state to the capital-labor ratio, output per worker, and consumption per worker when each of the following events occur? You should assume that the steady-state capital-labor ratio is below the Golden Rule level.In the countries of South Asia in 1992, only 56 young women were enrolled in secondary school for every 100 young men. Describe several ways in which greater educational opportunities for young women could lead to faster economic growth in these countries.Which of the following best describes an entrepreneur?a. A person who works as an office clerk at a major corporationb. A person who combines the factors of production to produce innovative productsc. A special type of capitald. Wealthy individuals who provide savings that stimulates the economy
