passage Drag word(s) below to fill in the blank(s) in the passage. Improving enables a country to have more skilled Expanding the education system is one way to do this, but it is slow-it's faster to allow for from other countries can enter the country. such that already trained workers human capital immigration natural resources labor emigration
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- repare a table and line graph showing the unemployment and economic growth rate for a Caribbean country and a developed country (other than the US) for the last 5 years. Examine the relationship between unemployment and economic growth observed between the two countries.Describe the current state of two economic indicators [ i.e. inflation] in the Philippines and how they affect the economy as a whole. (Essay type)(1d) To measure a real increase in wages, the changes would have to be averaged. the wages would have to be adjusted for inflation overtime. (my guess) the increase would have to be compared to the growth in GDP. (1e) Jerusha lives in a country with a large amount of protection under the law for conducting business or bringing her ideas to the market with patten production. Because of the economic conditions what will Jerusha most likely do with her rainwater collecting invention? Keep her ideas in a notebook and sell them to the highest bidder. Find a country where she can develop her idea away from strong patent laws. Develop her invention and bring it to market with ease and minimal cost. (my guess) (1f) Over the past 50 years, which component of consumer spending has steadily gained as a percentage of the total? durable goods nondurable goods services (my guess) (1g) The distinction between real GDP and nominal GDP is important to determine which of the following? The…
- Home has 12,000 units of labor available. It can produce two goods, apples and bananas. The unit labor requirement in apple production is 100, while in banana production is 75. There is now also another country, Foreign, with a labor force of 18,000. Foreign’s unit labor requirement in apple production is 120, while in banana production is 150. If w=2w* , what goods should Home produce? What should Foreign produce?match the economic goal to the problem and indicator Problem: unemployment indicator unemployment rate Problem: inflation indicator: consumer price index Problem: recession indicator: real GDP A. EConoMic growth b. full employment l C. Price stabilityEconomically, the U.S government is not concernedwith whether or not small businesses make it.
- Most of the jobs that were added to the American economy over the past thirty years were in which of the followingsectors?a. service and white-collarb. manufacturingc. miningd. skilled blue-collarSuppose the unemployment rate was 7.4 percent, far above the full-employment threshold (= 5 percent). Instructions: In part a, round your response to two decimal places. In parts b–c, enter your responses as a whole number. a. How many jobs were lost, as a result, in a labor force of 150 million? b. If the average worker produces $100,000 of output, how much output will be lost? c. By how much did GDP per capita decline as a result (310 million people)?which scientists stated the following relation first ? ''an increase in the quantity of money increased aoutput and employment, while a decrease in the quantity of money decreased output and employment ? a- mercantilists b- physiocrats c- classics d- plato
- c. Compare the agricultural employment share and agricultural labor productivity, boththe level and the trend, between the two groups of countries(high-income vs. low-income countries). What can you tell about the differences?d. The theory in Lagakos and Waugh (2013) explains the low agricultural labor productivityin low-income countries with self-selection. Explain the main mechanism of the theory onhow self-selection leads to low agricultural labor productivity in poor countries. (both c and d please)Calculate the Economy's Output Y=ALαK1-α A= 1.5 α= 0.5 L=Labor K= Capital Factor Markets: Labor Supply (L^S)= 100 Labor Demand (L^D)= 200-5(W/P) Supply of Capital (K^S) = 100 Demand for Capital (K^D)= 200-4(R/P) (W/P)= real wage (R/P)= real rental priceRetrieve the unemployment data from The World Bank database (http ://databank.worldbank.org/data/ home.aspx) for India, Spain, and South Africa for 20112015. Prepare a chart that compares India, Spain, and South Africa based on the data. Describe the key differences between the countries. Rank these countries as high-, medium-, and low-income countries. Explain what is surprising or expected about this data. How did the Great Recession impact these countries?