Please distinguish between 'balanced growth' and 'unbalanced growth'

Q: The following statement, concerning economic growth, is true: O Rapid and sustained economic growth…

A: Economic Growth is the increase in the output or production of goods and services in the country…

Q: Higher productivity leads to lower levels of economic growth.

A: Economic growth is refers to sustained increase in real GDP and aggregate output in the economy.…

Q: Labor productivity and economic growth outlined the logic of how increased productivity is…

A: The positive relationship between the labor productivity and the wage rate can be explained through…

Q: Suppose an economy's real GDP is $ 30,000 in year 1 and $ 31,200 in year 2.  Instructions: In part a…

A: Given: Real GDP in year 1 is equal to $30,000 and real GDP in year 2 is equal to $31,200.

Q: To what extent have increases in U.S. real GDP resulted from more labor inputs? From higher labor…

A: Real GDP is the inflation-adjusted value of all final products or goods and services, produced by…

Q: Shows how the graph will look for the positive relation between growth rate which are solow growth…

A: A country's or region's standard of living is an indicator of the economy's material aspects. It is…

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

A: Although economic growth is typically measured by calculating the rate of changein real GDP, there…

Q: describe the process by which a decrease in income taxes impacts economic growth.

A: The aggregate output function, as well as the labor demand and supply curves, decide the direction…

Q: Explain why the positive growth rate of RGDP, which is already adjusted for inflation, doesn’t…

A: The GDP is a metric that reflects both the economy's total income and total expenditure on goods and…

Q: Consider an economy in which the labour force grows by 2.7 percent per annum, physical capital grows…

A: If the residual (a) equals 0, the annual labor force growth rate (gL) equals 2.7%, the annual…

Q: List the four major elements that determine productivity growth. Choose one of these factors and…

A: Productivity growth is measured by the number of goods produced within the borders of the country.

Q: What would be the effect of each of the following events on actual and potential economic growth?…

A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost…

Q: Explain why there is such a close relationship between changes in a nation’s rate of productivity…

A: ANS Purchasing power (PP) of wage (income) is the amount of services & goods that can be…

Q: Why does economic growth matter in an economy

A: An increase in the market value of goods and services over a specific period of time is referred to…

Q: "Economic growth is always beneficial". To what extent do you agree with this extent.(Explain in…

A: Economic growth leads to higher output and higher incomes. Government finances are improved with…

Q: In Philippine context, list down the positive correlation of remittances to the economic growth.…

A: Remittances are the money transfers that are sent by people working abroad to their home country.…

Q: categorize the statements according to whether they inhibit economic growth or promote economic…

A: Economic growth is defined as an increased capacity to produce goods and services of an economy when…

Q: Describe the role energy plays in economic growth.

A: When firms produce commodities they employ many inputs like labor, land, capital, energy,etc.

Q: How does an increase in human capital affect economic growth? Put the following steps in sequence.…

A: Human capital is at the core of various endogenous growth models.

Q: Explain how each of the three conditions Smith describes would promote economic growth

A: Peace would promote economic growth as it is an indication of respect to property rights. Violence,…

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: Growth in real GDP per capita Initial level of real GDP per capita Refer to Figure 11-5. Based on…

A: Catch up effect is also know an the theory of convergence which postulates that poorer or developing…

Q: Beyond the Solow model, how do endogenous growth theories provide greater understanding of the…

A: Neoclassical growth model: - Neoclassical growth model was first given by Robert Solow and Trevor…

Q: What is linear stages of growth model in ecomonics? Explain by your own understanding

A: Linear stages theory - This a historical growth model given by Walter Whitman Rostow in 1960. His…

Q: What are the implication of economic growth that relate with Solow growth and Endogenous growth?

A: 'Economic growth is described as a rise in the manufacturing of services and goods compare from 1…

Q: True

A: AK model is a subfield of macroeconomics. It is an endogenous growth model which is used in the…

Q: In order to achieve economic growth we need to either gain more resources or new

A: Economic growth is characterized as an expansion in a country's production of labor and products. An…

Q: Explain about the positive relation between growth rate and standard of living of a country.

A: Economic growth is the rise in an economy's production of goods and services. The rise in capital…

Q: Long-run economic growth can occur as a result of

A: Economic growth occurs as a result of increase in GDP.

Q: What are the differences between economic growth and economic development?  List 1 measurement for…

A: There are many components related to the economy and macroeconomic policies along with the whole…

Q: Why one nation experiences economic growth and another does not is a question that has intrigued…

A: Hi there! Thank you for the question. As per the guidelines, we can answer up to 3 sub-parts at a…

Q: Describe Factors that may hinder economic growth

A: Economic growth refers to a rise in the production of economic goods and services, compared from one…

Q: 18  If real GDP is 250 in Year 1 and 300 in Year 2, what is the growth rate of real GDP Group of…

A: Given:  real GDP in year 1= 250  real GDP in year 2= 300

Q: In economics, we should know about the standard of living, the knowledge about Solow growth model…

A: Solow's growth model is designed to show how growth in the capital stock, growth in the labor force,…

Q: While increasing outplut levels have been a benefit of economic growth, what have been some of the…

A: Considering the effects of the social challenges and the problems associated with economic growth…

Q: Discuss: what the relationship between productivity and growth is. What can help improve…

A: In economics, productivity is the measure of output per unit of input where inputs are labor ,…

Q: What information does this fact give us about the growth rates of other variables?

A: Real GDP per person refers to the national income of the country in real terms divided by the…

Q: The measure of GDP for economic growth is not always perfect. Describe any two problems that are…

A: Solution: Gross domestic product GDP (Gross domestic Value) is the total value of goods and services…

Economic Growth

It means the rise in the manufacturing levels of a country’s products/services over a while. It is calculated in terms of the real income of the people of the country. When the production of products/services begins, the manufacturers will hire employees, which in turn raises the income of the people and it will also raise the buying power, this eventually leads to the circulation of money that directly helps in the increase in the Gross Domestic Product (GDP). Thus, GDP is calculated by economists to calculate the growth in the country.