per capita is à function of three components: human capital per worker, physical capital per worker, and technology per worker. For an economy to experience consistent increasing economic growth, which component needs to increase (decrease)? Explain. (accompany your explanation with a graph: plot output per capita against capital)

Q: conomists measure economic growth as the a. percentage change in GDP deflator b. percentage change…

A: An increase in the market value of goods and services over a given period is referred to as economic…

Q: Calculate the growth rate of real GDP, population, and real per capita GDP from year 2 to year 4.

A: We have data for Real GDP and  Population from year 1 to year 5.

Q: Use the table to answer the questions. Define productivity as GDP per worker, and please enter all…

A: Productivity determines how efficiently resources are employed within an economy. Productivity shows…

Q: Fill in the blank   Italy is a relatively rich country with per-capita GDP of $28,000. India is a…

A: Given:

Q: The table below shows real GDP, population, and real GDP per capita for the hypothetical economy of…

A: The real GDP measures the value of output produced in a nation in a specific year after adjusting it…

Q: Look around you and try to identify ten (10) objects/items that you may consider as evidences of…

A: Economics deals with the effective allocation of scarce resources to satisfy the unlimited wants of…

Q: Suppose an economy’s real GDP is $30,000 in year 1 and $31,200 in year 2. What is the growth rate of…

A: Given Information: Real GDP in year 1 = $30,000 Real GDP in year 2 = $31,200 Population in year 1 =…

Q: From 2010 to 2020, Benin recorded an average economic growth rate of 4% and average labour growth…

A: The Gini coefficient gets used to measure the extent of inequality in an economy by comparing the…

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: Which of the following causes economic growth? (A A decrease in the money supply A decrease in the…

A: * SOLUTION :-  (7)   From given information  The OPTION E is correct answer.

Q: Which of the following is true of the growth in the U.S. economy from 1950 to 2007? Growth…

A: Countries who do higher investment in research and development are likely to have better standards…

Q: In 2018, according to the International Monetary Fund, India had the world’s 7th-highest nominal…

A: The real and nominal GDP are the macroeconomic components that show the value of all the final goods…

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: Texas 45,091 58.417 Colorado 47,335 59,057 Ohio 42,086 51.456 What is the difference in terms of…

A: The average annual growth rate (AAGR) is the common boom or lower withinside the cost of an funding…

Q: A lower income economy starts off with a per capita GDP of $5,000. How large will the per capita GDP…

A: Given data: per capita GDP of $5,000 Annual growth rates are: 2% for 10 years 2% for 30 years 4% for…

Q: Shows how the graph will look for the positive relation between growth rate and standard of living…

A: When a country grows and started producing more output the standard of living for the people's also…

Q: Suppose the GDP growth resulting from physical capital in an economy is 1%, and the growth resulting…

A: Answer to the question is as follows :

Q: Suppose that work hours in New Zombie are 200 in year 1 and productivity is $8 per hour worked. What…

A: The real GDP of a country relies upon the input of labour multiplied by the productivity of labour.…

Q: 2001, a country had a real GDP of $30,000,000 and in 2002, real GDP was $40,000,000. What was the…

A: The real GDP is the inflation adjusted level of GDP in the economy. The GDP is the summated money…

Q: Use the table to answer the questions. Define productivity as GDP per worker, and please enter all…

A: GDP per workers refers that how much per worker gives their share in GDP growth  it is also known as…

Q: Although economic growth is typically measured by calculating the rate of change in real GDP, there…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: The following table gives some figures from forecasts of real GDP (in 2005 dollars) and population…

A: The gross domestic product (GDP) is defined as the market value of all the final commodities(goods…

Q: Which of the following explains the importance of education in economic growth? Group of answer…

A: Economic growth means an increase in the total production of goods and services in the economy. It…

Q: Why is Real GDP a better indicator of productive growth than Nominal GDP ?

A: Gross Domestic Product (GDP) measures the value of final goods and services produced with in the…

Q: Which of the following statements about economic growth is false Select one: O a. Economic growth…

A: Economic growth refers to the situation when an economy generated relatively more output than…

Q: Suppose that in a particular country, nominal gross domestic product(GDP) grew by 8 percent and the…

A: In an economy, nominal GDP provide information about the total income generated in a specific year,…

Q: Between 1916 and 2016, the average growth rate of real GDP per person in the United States was 2…

A: From this statement we can understand the trend in the economy during 1916 92 2016.

Q: Suppose that two countries are exactly alike in every respect except that the citizens of country A…

A: a. Output per worker in country A and B is illustrated as follows: In the figure, horizontal axis…

Q: Brazil’s real GDP was 1,520 trillion reais in 2011 and 1,585 trillion reais in 2012. Brazil’s…

A: GDP: The GDP or the gross domestic product can be defined as the value of the final goods and…

Q: Q)1 a) Canada​'s real GDP was 2,016 billion dollars in 2017 and 2,053 billion dollars in 2018.…

A: Given: Real GDP: 2017=$ 2016 billion 2018=$2053 billion

Q: What will happen to the annual rate of growth of per capita real Gross Domestic Product​ (GDP) if…

A: In an economy, per capita growth rate refers to the average increase in growth rate according to the…

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: Which of the following would not necessarily lead to long-term economic growth

A: A rise in the output of goods and services in an economy is referred to as economic development.…