Suppose that, in an imaginary country, the last decade witnessed a flow of employment from coal mining to automotive industry. Explain why would this change most possibly create positive affects on real GDP per capita

Q: Which of the following are myths about the U.S. economy? Check all that apply. A. The United States…

A: The tax revenue in America is around 24% of GDP and America is the largest consumer market.

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A: International migration is a strong expression of people's desire to improve their circumstances in…

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Q: Assume that an economy has 1,000 workers, each working 2,000 hours per year. If the average real…

A: Gross Domestic Product(GDP) refers to the value of all final goods and services produced in an…

Q: Calculate GDP in the following economy given this information: Consumer purchases: $100 per year…

A: GDP or the gross domestic product is the value of all final goods and services which are newly…

Q: Suppose that solar energy panel and electric car are the only two goods produced in an economy. The…

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Q: Suppose that virtually everyone in the United States decides to take life a little easier, and the…

A: Below is the given information: The fall in average workweek = 25%

Q: Explain how our standard of living depends upon our level of real GDP per person but there might not…

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Q: Suppose the following data describe a nation's population:     Year 1 Year 2 Population 300…

A: Solving questions 3 a b c all part

Q: Explain why each of the following should be taken into account when GDP data are used to compare the…

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Q: If you had a choice between living in a country with HIGH GDP per capita but NO growth, OR, a…

A: GDP per capita refers to "output per person". This means it helps to determine the country's economy…

Q: Suppose you are provided with the following information about an economy that consists of just three…

A: Gross Domestic Product is sum of value of output that is produced in a nation in a given period of…

Q: [Consider the effects of an increase in the global price of oil. For a country such as Australia,…

A: The main difference between the GDP deflator and the consumer price index is that the GDP deflator…

Q: Discuss the following statement: “Higher labor productivity allows firms to produce more goods with…

A: Natural rate of unemployment refers to the full employment level of the economy. The natural rate of…

Q: The curve in the figure at right will shift to the right when   A. the proportion of the population…

A: Answer: option D (labor productivity increases) Explanation: According to the figure, the vertical…

Q: Technological Change and Unemployment: What are some examples of technological changes that have…

A: Technological change is an important factor that is present in every economy in the course of their…

Q: Which of the following would NOT be described as “capital” by economists? Question 57 options:…

A: As we know that Capital means that those durable produced goods which helps in further production of…

Q: Use the following table to answer the next question. Year Alta Zorn Alta Zorn (Real GDP) (Real GDP)…

A: The real GDP and population of three years for countries Alta and Zorn are given.

Q: Based on the following data, GDP would equal ___ while Net National Product equals ___   in…

A: Meaning of Gross Domestic Product (GDP): The term gross domestic product refers to the situation…

Q: The United Nations Human Development Report gives the following data for real GDP per person in​…

A: Answer -  Given in the question Data for real GDP per person in 2014  which are - China $12,547 ,…

Q: Only three goods are produced in an economy in the following amounts: A = 10, B = 30, C = 5. The…

A: Gross domestic product (GDP) at current market prices is referred to as nominal GDP. Nominal GDP…

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: (V2) In the fictional country of Vulcan, population keep declining due to low fertility. It is…

A: We are given the following information:  - The population of the country will decrease by 8% by 2050…

Q: In macroeconomics, the connection from inputs to outputs for the entire economy is called…

A: Aggregate demand refers to the total amount of goods and services that are produced and are ready…

Q: The following table provides the population size, price-level index, and nominal GDP of a…

A: Real GDP is inflation adjusted GDP that measures the value of all final commodities and services…

Q: What is the fundamental difference between real and nominal GDP     A.) Both real and nominal GDP…

A: GDP is the value of goods and services produced in the economy.

Q: Based on the GDP information in the table below for 2 countries:   Country A Country B GDP per…

A: A developed economy is one that is found in a developed country with a high level of economic growth…

Q: Why is average GDP per capita used In measuring standard of living for individuals in the economy?

A: Answer: Real GDP per capita = Real GDP per capita refers to the per-person real output of a country.…

Q: In his 2020 State of the Nation Address (SONA), president of South Africa humbly noted that. "Even…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Let us use what we have learned in the first part of the chapter to compare living standards in the…

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Q: Which of the following is NOT included among the three macroeconomic objectives that Islamic…

A: Macroeconomic is defined as the concept that studies the economy as a whole. It deals with aggregate…

Q: Explain why GDP per capita comparisons among nations are not a perfect measure of differences in…

A: Standard of living is the level of comfort, necessities, material goods, and wealth available to the…

Q: The following table shows hypothetical values for the real GDP and population for the United States,…

A: Real GDP per Capita is calculated by dividing Real GDP divided by the population of the country.…

Q: Solve the attahment.

A: GDP (gross domestic product) is the monetary value of all finished services and goods produced in an…

Q: Classify each of the following as IN Africa's 2020 GDP or NOT IN Africa's 2020 GDP. Cars produced in…

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Q: Multiplying the volume of each good produced by the price of each that obtains in the year of…

A: In an economy, the calculation of total output and price is used to compute various economic…

Q: If a country has a per capita GDP of $4,200 and it grows at a 5% annual rate. How long will it take,…

A: The economies around the world tend to focus on their economic growth, and development. The nations…

Q: Say that the average worker in Canada has a productivity level of $30 per hour while the average…

A: Labor productivity is also known as work force productivity. It is defined as the amount of goods…

Q: 1) Consider a country in which three goods (A, B, and C) are produced. The following table shows…

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Q: Susan gets a car for $50,000 in Melbourne in 2021. How will this transaction be accounted in…

A: GDP refers to the final value of final goods and services that are created within the country.

Q: Professor Jung grows fruits and vegetables for home consumption. This activity is     1)  excluded…

A: GDP is the value of final goods and services produced in an economy within a given period of time,…

Q: For a high-income economy like the United States, what element of the aggregate production function…

A: If there are two countries – Rich and Poor where rich country starts off with GDP of 20000 units and…

Q: During the course of the twentieth century, the average workweek in the United States has gotten…

A: The total monetary or market value of all finished goods and services produced within a country's…

Q: Q18. Consider the following data for Tyrovia, a country that produces only two products: guns and…

A: "GDP represents the market value of all the final commodities and services produced in a nation at a…

Q: Goods and services that are not sold in markets, such as food produced and consumed at home, are…

A: Well being:- Well-being can be explained as a condition of people in the economy in which the needs…

Q: what are the most likely reasons why standard economic models predicted only small effects of TCJA…

A: Lower business and corporate tax rates, new domestic investment incentives, and safeguards against…

Q: Labor Productivity) Identify at least four definable periods of labor productivity growth beginning…

A: The five perceptible times of work profitability development in us starting just after war II are as…

Q: Use the concept of an economy-wide production possibilities to explain full employment output and…

A: Full employment in its entirety output is Pareto efficient. It means that the economy can't raise…