TRUE OR FALSE Ideas are "non-rival" goods, but inventors still have economic incentive to invent. Discuss. What is the US Productivity Slowdown? List and explain three possible explanations for it
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- A) The prediction that population growth and growing affluence would outstrip supply would mean rising prices over time due to oil shortages. B) Both the 1970s and the 2000s oil price hikes were due to the demand curve shifting to the right. C) The sharp fall in the oil price after the global financial crisis of 2008 was due to the supply curve shifting to the right. D) The prediction that technological advancement to find new resources and extract them more efficiently would outweigh increases in demand would mean rising prices over time due to oil shortages.1. What is the meaning of National Industrialization? 2. Give at least three examples of the main industries that the Philippines has. (No need to explain.)31) Given the narrow interpretation of technology, technology will include which of the following? A) how well firms are run B) the organization and sophistication of markets C) the political environment D) none of the above 32) Suppose there are two countries that are identical with the following exception. The saving rate in country A is greater than the saving rate in country B. Given this information, we know that in the long run A) the growth rate of output per capita will be greater in B than in A. B) the growth rate of output per capita will be greater in A than in B. C) the capital-labor ratios (K/N) will be the same in both countries. D) the growth rate of output per capita will be the same in both countries. 33) Suppose there are two countries that are identical with the following exception. The saving rate in country A is greater than the saving rate in country B. Given this information, we know that in the long run A) the capital-labor ratio…
- Case: Suppose you are watching a news report with a friend. The news report points out that a certain African nation generates a GDP per capita of only $1300 per year. Since your friend knows that Slovenia’s GDP per capita is approximately $26 000, he suggests that Slovenians are materially 20 times better off than the people of the African nation. 4. Why would the exclusion of this type of production affect the measurement of African output more than Slovenian output?QUESTION 1 Assume a Cobb-Douglas production with capital share 1/3; total factor productivity equal to 1, total population in an economy is equal to 1, depreciation rate is 5 percent and saving rate is 10 percent. Then the steady-state level of capital is about: a. 0.8 b. 1.6 c.1.3 d.2.8 e. 0.3Question 2 If a natural disaster destroys a large portion of a country's capital stock but the saving and depreciation rates are unchanged, the Solow model predicts that the economy will grow and eventually reach:a. A lower steady-state level of output than it would have before the disasterb. None of these answers is correctC. The same steady-state level of output as it would have before the disasterd. A higher steady-state level of output than it would have before the disaster e. Not enough information is given QUESTION 3 Suppose you are given the data for Brazil and Portugal. In Brazil, the saving rate is 0.1 and the depreciation rate is 0.1, while in Portugal saving rate is 0.2 and the…What must the academia do in order to improve the Philippines’ standing on innovation? Cite examples of some Philippine higher education institutions having done something concrete on innovation and education.
- Question 2 [We learned in class, that policymakers are interested in bolstering the country’s economic long-term productive capacity, which contributes towards stronger economic prosperity and enhanced social and individual well-being.] (a) [A nation’s economic prosperity is strongly dependent on the productive capacity of its economy. What are the main factors (or “ingredients”) that determine the productive capacity of a nation’s economy? Are there any limitations to these sources of growth and productivity? (b) We know that technological progress (innovation, ideas, knowledge breakthroughs) can help overcome barriers to economic growth as discussed in Question 2 part (a). Identify two sustainable development goals (SDG’s) and discuss how technological progress can assist in progress towards goal achievement.II. True & False, just write true or false for the answer ( ) 1. It is possible that economic growth in developed nations has offset the fall in the share of national income enjoyed by unskilled workers, raising their living standards. ( )2. The attractiveness of a country as a potential market for an international business depends solely on the size of its consumer market. ( )3.The stock of foreign direct investment refers to the total accumulated value of foreign-owned assets at a given time. ( ) 4. Strong legal protection of property rights is a requirement for a business environment to be conducive to innovation, entrepreneurial activity, and hence economic growth. ( ) 5. A risk-averse international firm that enters a foreign market on a small scale will increase its potential losses. ( )6. In a joint venture, a firm benefits from a local partner's knowledge of the host country's competitive conditions, culture, language, political systems, and business systems.…QUESTION 2 2.a) Provide a definition of ‘technological capability’ and ‘social capability’ and describe the differences between them (5 points). Why can we say that innovation has a ‘systemic’ nature? (3 points). 2.b) Financial development, social capital, favourable business regulation, trade openness are different aspects of ‘social capability’ influencing innovation processes and, therefore, economic development. Make a ranking of these factors according to their observed degree of importance for economic development (3 points). Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability of an economy (5 points). 2 2.c) Figure 1 below shows the cross-country correlation between the development of the education system and the level of economic development. Analyse Figure 1 by arguing about the importance of the education system for economic development in low, emerging, and developed countries (9 points).
- (a). Provide a definition of ‘technological capability’ and ‘social capability’ and describe the differences between them. Why can we say that innovation has a ‘systemic’ nature? (b). Financial development, social capital, favourable business regulation, trade openness are different aspects of ‘social capability’ influencing innovation processes and, therefore, economic development. Make a ranking of these factors according to their observed degree of importance for economic development. Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability of an economy. (c). Figure 1 below shows the cross-country correlation between the development of the education system and the level of economic development. Analyse Figure 1 by arguing about the importance of the education system for economic development in low, emerging, and developed countries. Please answer all the parts of this question.1. Why do you think many big corporations like Apple, Coca-Cola, Microsoft, choose to manufacture their products in countries located in the Global South than in the Global North? 2. Based in your knowledge, why rich countries become richer and poor countries become poorer? Support your idea.India is expected to be the world's fastest-growing economy this year, 2023. If current trends continue, discuss the possible implications of such a development for 3. the business strategy of today’s global corporations