QUESTION 9The production process of a particular company displays constant returns to scale. Then, if such company doubles all the inputs, the outputa.doubles as well.b.more than double.C.remains unchanged.d.triples.O aOdQUESTION 10Y T-C 1n a closed economy, representsnational savinga.b.private savingpublic savingс.government tax revenueaO bd.Saveaue all answers,d. QUESTION 7The introduftion of the video cassette recorder in the 1970s exemplified a problem in measuring the cost of living; that problem is the problemofa.substitution bias.product-improvement bias.introduction of new goods.b.с.d.unmeasured quality change.abOdQUESTION 8The definition of productivity isa.real GDP per worker.b.nominal GDP per worker.с.natural resources per workerd.physical capital per worker.ad.

“Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

The production process of a particular company displays constant returns to scale. Then, if such company doubles all the inputs, the output a. doubles as well. b. more than double. remains unchanged. с. d. triples. QUESTION 10 Y -T- C. in a closed economy, represents a. national saving b. private saving public saving с. d. government tax revenue a

The production process of a particular company displays constant returns to scale. Then, if such company doubles all the inputs, the output a. doubles as well. b. more than double. remains unchanged. с. d. triples. QUESTION 10 Y -T- C. in a closed economy, represents a. national saving b. private saving public saving с. d. government tax revenue a

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 11P

See similar textbooks

Similar questions

Question 2 Why the use real GDP is preferred by economists over nominal GDP to gauge economic well-being? (Word count: 100 words max.) Consider the following data on the Pakistan economy: Nominal GDP GDP Deflator Year (in billions of rupees) (base year 2012) 2018 21,501 111.4 1998 9,163 76.3 What was the growth rate of nominal GDP between 1998 and 2018? (Hint: The growth rate of a variable X over an N-year period is calculated as [(Xfinal/Xinitial)1/N – 1] x 100). What was the growth rate of the GDP deflator between 1998 and 2018? What was real GDP in 1998 measured in 2012 prices? What was real GDP in 2018 measured in 2012 prices? What was the growth rate of real GDP between 1998 and 2018? Was the growth rate of nominal GDP higher or lower than the growth rate of real GDP? Explain.
If the GDP per capita grows by 5%, it means that O a. The rich people's incomes increased by 5% © b. On the average, the people's income grew by 5% © c Everyone's income grew by 5% d. Employment rates increased by 5%
Suppose an economy begins in steady state. By what proportion does per capita GDP change in the long run in reponse to each of the following changes? Production function is Y=AK^1/3L^2/3 a. Investment rate doubles b. depreciation rate falls by 10% c. Productivity level rises by 10% d. Earthquake destrys 75% of the capital stock e. Generous immigration policy lead the population to double
A country’s per-capita nominal GDP is growing at 5%, its price level is growingat 3% and its population is growing at 1%. How fast is its aggregate real GDPgrowing?(a) 2%(b) 3%(c) 4%(d) 5%
Answer these questions about GDP: a. Could next year’s real GDP exceed next year’s nominal GDP?b. Could real GDP grow at the same time that real GDP per capita falls?c. Could people’s real consumption possibilities expand at the same time that realGDP per capita falls?d. How does changing amount of leisure complicate comparisons of real well-beingover time?
1. Why the use real GDP is preferred by economists over nominal GDP to gauge economic well-being? (Word count: 100 words max.) 2. Consider the following data on the Pakistan economy: Nominal GDP GDP Deflator Year (in billions of rupees) (base year 2012) 2018 21,501 111.4 1998 9,163 76.3 What was the growth rate of nominal GDP between 1998 and 2018? (Hint: The growth rate of a variable X over an N-year period is calculated as [(Xfinal/Xinitial)1/N – 1] x 100). What was the growth rate of the GDP deflator between 1998 and 2018? What was real GDP in 1998 measured in 2012 prices? What was real GDP in 2018 measured in 2012 prices? What was the growth rate of real GDP between 1998 and 2018? Was the growth rate of nominal GDP higher or lower than the growth rate of real GDP? Explain.
Suppose an economy begins in steady state. By what proportion does per capita GDP change in the long run in reponse to each of the following changes? Production function is Y=AK^1/3L^2/3 d. Earthquake destrys 75% of the capital stock e. Generous immigration policy lead the population to double Fast answer
a. How much more output does the $22 trillion U.S. economy produce when GDP increases by 1.0 percent? in BILLION not .22 b. By how much does this increase per capita income if the U.S. population is 340 million?
If all quantities produced rise by 5 percent and allprices fall by 5 percent, which of the following bestdescribes what occurs?a. Real GDP rises by 5 percent, while nominalGDP falls by 5 percent.b. Real GDP rises by 5 percent, while nominalGDP is unchanged.c. Real GDP is unchanged, while nominal GDP risesby 5 percent.d. Real GDP is unchanged, while nominal GDP fallsby 5 percent.
if a nation real gdp is growing by 3.5 percent per year , its real GDP will double in aproxiately 1. 41.1 years 2, 20.6 years 3, 10.3 years 4, 72 years
What do the growth accounting studies conclude are the determinants of growth? Which is more important, the determinants or how they am combined?
An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it grows at an annual rate of 2 for 20 years? 2 for 40 years? 4 for 40 years? 6 for 40 years?