“Social and institutional innovations are as important for economic growth as technological and scientific inventions and innovations.” What is meant by this statement?

Q: What is the contribution of industrial production to economic growth? Interpret the chart below

A: Industrial production gauges the yield/output of the Industrial production, which normally contains…

Q: Which best describes economic growth? a) increase in labor force participation rate b) a decrease…

A: When real GDP increases for longer time.It best describes economic growth.

Q: Which of the following is the per capita real GDP growth rate if a country''s real GDP growth rate…

A: GDP growth rate: It measures the percentage change in the overall output level in an economy during…

Q: Define Economic Growth. How has migration into America over the past 400 years contributed to…

A: 1.Economic growth is defined as production of goods and services in a particular year.Comparison of…

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: What is one real world examples of how the following can facilitate economic growth in a country:1.…

A: The fiscal policy is used by the government through which they influence the tax rate and government…

Q: 32. According to a Malthusian, which of the following government policies is good for per-capita…

A: Disclaimer :- As you posted multiple questions we are supposed to solve the first one only.…

Q: In the long run, what will be the source of a country’s economic growth? a. Labor laws b. Labor…

A: Long run in the sense, there would be no fixed costs and only variable costs would be there.

Q: What is average labour productivity? Explain how average labour productivity can impact economic…

A: Labor economics deals with the transactions and dealings in the labor market where the labor…

Q: Describe the modern economic growth. List the FIVE (5) public policies that related to economic…

A: Modern economic growth - Economic growth is an increase in the amount of goods and services that an…

Q: Which of the following is not a source of economic growth? A. appropriate incentive system B.…

A: Financial development or economic growth- estimated as an increment of individuals' genuine pay -…

Q: In your opinion, why do some countries experience sustained levels of high growth that propel them…

A: When comparing one period of time to the next, economic growth is described as an increase in an…

Q: Does economic growth leads to economic development? How? In what way? Answer by giving an example.

A: Economic Growth refers to increase in output. It is a quantitative aspect. Economic Development…

Q: Does a country need to be well endowed with natural resources in order to experience rapid long-term…

A: Economic growth refers to the increase in the amount of goods and services produced in the economy.…

Q: What is the dynamic entrepreneurship and what are the dynamic entrepreneur’s roles in economic…

A: Entrepreneurship is the activity in which a person or number of people set up a business by taking…

Q: Explain why economic growth is a necessary condition but not sufficient condition for economic…

A: The economic growth is the increase in the real output of the economy in a period of one year time.…

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: Explain how institutional factors promote economic growth in these areas:  promotion of modern…

A: Economic growth is an increase in the production of economic services and goods being compared from…

Q: Describe the difference between human capital and technological knowledge in terms of workers’…

A: Human capital is defined as the required skills, expertise, knowledge, and experience that an…

Q: Define economic growth and discuss its utility at the scale of one country and at the global scale.

A: Economic growth is the rise in overall level of output of an economy. The most common way to measure…

Q: Discuss how technology, education and international investment can aid in economic growth, and give…

A: Economic growth refers to the increase in the production of goods and services in an economy.…

Q: Define the terms 'Population Growth'?

A: While studying economics, one will go through with various economic terms that itself defines the…

Q: Social and institutional innovations are as important for economic growth as technological and…

A: A nation earning a positive income/GDP can be termed as its "growth", but with a positive social…

Q: In the mid-1990s, it appeared that productivity growth increased substantially in the U. S, economy.…

A: The economy of the United States of America (US) experienced around 25 years of sluggish gains…

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: Explain/Discuss how technology, education and international investment can aid in economic growth,…

A: Economic growth is calculated by an economy's gross domestic product and the quality of life is…

Q: The importance of institutions for economic growth are best explained as a) a country's ability…

A: the sustained rise in production of goods and services is called economic growth. The institutions…

Q: Discuss the function of technological progress and how it adds to the process of economic growth…

A: Economic growth is defined as the increase in the production of goods and services compared to…

Q: How economic development influence the productivity in a certain country? What is a growing economy…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: tial obstacles to

A: Sustainable economic growth implies a rate of growth which could be maintained without creation of…

Q: True

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

Q: Which of the following is a cost of economic growth? (a) umprovements in technology (b) declining…

A: Economic growth implies an increase in real GDP which in turn causes an increase in the real…

Q: Which of the following factors contribute to economic growth? Question options: a) an increase in…

A: Economic growth in a country occurs when more output can be produced within a specific time period.…

Q: Look at the hypothetical data in the table below: Real GDP per capita Nigeria-$1,000 Mexico-$8,000…

A: Two sources of growth are size of work force and growth of productivity. Among these two sources of…

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: explain FOUR (4) public policies that can promote economic growth.

A: The public policies that are helpful and promote economic growth are the following: Fiscal policy…

Q: Which of the following is most likely to contribute to economic growth as measured by GDP per…

A: GDP per capita growth rate is a macroeconomic measure that is used to compare the differences that…

Q: hat is the opportunity cost of economic growth? Discuss in detail (thoroughly and carefully).

A: Economics is about counting costs, and the cost to be counted is the “opportunity cost,” which is…

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: 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.…

Q: Discuss the methods and factors than can help to improve economic growth?

A: Economic growth(g) refers to the increase GDP i.e. increase in the market(mkt) value of all final…