Productivity isO A. the value of profit divided by the number of production workersO B. the value of output that a worker generates for each hour of workO C. an indicator of how hard workers apply themselves to their tasksO D. a measure of the speed with which inputs can be transformed into products.Productivity varies across countries becauseO A. human capital per worker varies substantially from country to countryO B. the quantity of physical capital that workers can access varies greatly across countriesO C. the level of technology differs across countriesO D. all of the above.O E. A andB only.

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Productivity is O A. the value of profit divided by the number of production workers O B. the value of output that a worker generafes for each hour of work O C. an indicator of how hard workers apply themselves to their tasks O D. a measure of the speed with which inputs can be transformed into products

Productivity is O A. the value of profit divided by the number of production workers O B. the value of output that a worker generafes for each hour of work O C. an indicator of how hard workers apply themselves to their tasks O D. a measure of the speed with which inputs can be transformed into products

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter5: Investment Decisions: Look Ahead And Reason Back

Section: Chapter Questions

Problem 5.3IP

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Which of the following would not affect labor productivity, i.e. more output per unit of labor hour? Select one: a. When interest rates decrease and government spending increase. b. when labor is reallocated from less-efficient industries to more-efficient industries. c. when production is better organized and managed d. technological progress e. the health, training, education, and motivation of workers improve f. the quantity of capital goods available to workers
How does an increase in labor-productivity increase income? a. An increase in productivity, increases the marginal product of labor which increases the demand for labor. As demand for labor increases, the wage rate increases. b. An increase in productivity, decreases the marginal product of labor which increases the demand for labor. As demand for labor increases, the wage rate increases. c. An increase in productivity, increases the marginal product of labor which decreases the demand for labor. As demand for labor decreases, the wage rate increases. d. An increase in productivity, increases the marginal product of labor which decreases the demand for labor. As demand for labor decreases, the wage rate decreases.
Please list and explain 8 key points1) Considering the determinants of productivity, list and explain some things that would tend to prohibit or limit a poor country’s ability to catch up with rich ones.b. Economist believe there is a strong correlation between productivity and the standard of living? Discuss.In your answer be sure to explain what productivity and standard of living mean. Make a list of things that determine labour productivity and explain how each of them have an impact on the standard of living
31. Which of the following happens when the country's labour is more productive? a.A decrease in total factor productivity b.An increase in real wage c.An increase in real production d.A decrease in factor income
a. Considering the determinants of productivity, list and explain some things that would tend to prohibit or limit a poor country's ability to catch up with rich ones. b. Economist belive there is a strong correlation between productivity and the standard of living? Discuss. [Hint: in your answer be sure to explain what productivity and standard of living mean. Make a list of things that determine labour productivity and explain how each of them have an impact on the standard of living]
The work force of a certain factory is growing at rate of 2 per month while the average productivity of a worker is growing at a rate of 4 units per month. If the work force is currently 100 and the average productivity per month is 200 units, at what rate is the total productivity per month of the factory increasing? (a) What happens if the work force is declining by 2 per month? (b) What happens if the average productivity is decreasing by 5 per month?
a. Considering the determinants of productivity, list and explain some things thatwould tend to prohibit or limit a poor country’s ability to catch up with rich ones.b. Economist believe there is a strong correlation between productivity and the standard ofliving? Discuss.[HINT: In your answer be sure to explain what productivity and standard of living mean.Make a list of things that determine labour productivity and explain how each of them havean impact on the standard of living.]
In economics, How might productivity be measured for each of the following industries ? a. Education(e.g., elementary and secondary education, higher education—undergraduate and graduate) b. Government (e.g., the Social Security Office, the Internal Revenue Service) c. Manufacturing (e.g., soap and toothpaste, computers, heavy machinery) d. Finance and insurance (e.g., banks, insurance companies, brokerage houses)
Supply of labour: W = 20 + 4L. Production function: Y = A*(K*L)1/2 (square root of K*L). New technology: A = 32. Capital: K = 2250. New technology increases labour productivity and demand for labour: W = 420 - 6L. How much is GDP per worker (Y/L)?
An increase in labor productivity means businesses will produce more output with the same amount of labor. Explain
When the capital stock per hour worked: Select one: a. increases, labour productivity in increases. b. increases, labour productivity falls, as workers are being replaced with capital and machinery. c. decreases, labour productivity increases. d. increases, capital productivity increases.
Thomas Malthus presented a dismal forecast for man-kind, largely due to the effects of population growth. Show that immigration, like population growth, tends to create unemployment in the short run and reduce the standard of living of workers in the long run, even though it does enhance the economy’s ability to produce. (Use diagram and analysis)