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- (a)What does Robert Marks consider to be the most important features of the industrial revolution? (c)How does Robert Marks criticize some of the institutional explanations of the industrial revolution?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…____________ is a term which refers to the widespread use ofpower-driven machinery and the economic and social changes that resulted in thefirst half of the 1800s. a)Industrial Revolution b)Capital deepening c)Living standard d)Technology
- 10 In India, the availability of labor is comparatively more than the availability of capital. What method of production India should adopt? a. Labor intensive method b. Capital intensive method c. Labor shortening method d. Capital deepening methodIn our one country model of technology growth, y = A(1- γA). Suppose that the country temporarily raises its level of γA. (a) Draw two graphs, one for y and one for A, showing how the time paths of output per worker (y) and productivity (A) will compare under this scenario with what would have happened if there had been no change in γA Please do fast ASAP fastWhat 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.
- Consider the circular flow model: suppose that businesses buy a total of $220 billion of the four resources (land, labor, capital and entrepreneurial ability) from households. If households receive $120 billion in wages, $24 billion in rent, and $49 billion in interest, how much are households paid for providing entrepreneurial abiltity? A. $360 billion B. $60 billion C. 27 billion D. $100 billionDescribe the present day global innovation economy8 why do technological improvements only increase population and not the long-run standard of living?
- Explain what the Industrial Revolution was and where it began.(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.Kindly answer this, Thankyou! 1. Does entrepreneurship matter? Why? 2. How important is entrepreneurship in nation building?