Which of the following explains why production rises in most years?a. increases in the labor forceb. increases in the capital stockc. advances in technological knowledged. All of the above are correct.
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Which of the following explains why production rises in most years?
a. increases in the labor force
b. increases in the capital stock
c. advances in technological knowledge
d. All of the above are correct.
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- Find- A) if the base year in the year 2012 , the real gdp for 2020 equals $ ______and the real GDP for 2021 equals $______ B) The annual growth rate of real GDP in 2021 is _______ % Please find bothA country GDP is increasing however it's output remains the same in the several years. What can be be the reason behind this?In a business cycle , what are the features of stages of expansion ? a ) Rise in national output , Rise in consumer expenditure , Bank advances grow rapidly . b ) Rise in national output , Rise in capital expenditure , Bank advances grow rapidly . c ) Rise in national output , Rise in consumer and capital expenditure , Bank advances grow slowly . d ) Rise in national output , Rise in consumer and capital expenditure , Bank advances grow rapidly .
- How do we measure labor productivity? How do changes in labor productivity affect the U.S. standard of living? Does an increase in labor productivity always leads to an increase in standard of living, explain?consider two sub-periods in the long period of 1980-2018. The sub-periods considered are 1980-1989 and 2003-2007. Write the avg. growth rates of GDP, capital stock, labor and TFP contribution to GDP growth for each period.In country X nominal GDP, increases by 3% in one year. In the same year there is a 2% inflation of prices and 1% growth in population .How much is real GDP per capital change. (a)2% (b)0% (c)1% (d).4%
- , assume the following: Karachi is an autonomous city. The only good/service produced at Karachi is Graduate education. year Karachi Grad std Price (tuition) Nominal GDP Real GDP (2015) Real GDP (2018) 2010 600 20000 2011 750 22000 2012 900 24000 2013 1100 25000 2014 1050 26000 2015 1300 29000 2016 1500 33000 2017 1600 36000 2018 1800 39000 2019 1750 43000 2020 1700 48000 Find the growth rate of nominal GDP for 2014, 2015 and 2016. Find the growth rate of real GDP (using 2017) for 2012, 2013 and 2014. Why are your answers in 2 and 3 different/same? Compute inflation using GDP deflator (using 2017) for 2012, 2013 and 2014. Beside GDP deflator what other price indices are used in measuring inflation? 7. Which one is the best? Why?relate the terms: increase, growth.Data measuring the economic growth rate, as measured the year after a major natural disaster, for example, a hurricane, an earthquake or pandemic usually shows a: a. small rise in construction but negative declines in all other sectors b. sharp rise over the previous year c. negative growth rate d. sharp fall over the previous year
- Why do economists measure growth in real terms as opposed to nominal terms? Explain why real GDP a useful and important measure of a nation’s economic health? Who uses this information?Why the use real GDP is preferred by economists over nominal GDP to gauge economic well-being? 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 a) 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). b) What was the growth rate of the GDP deflator between 1998 and 2018? What was real GDP in 1998 measured in 2012 prices? a) What was real GDP in 2018 measured in 2012 prices? b) What was the growth rate of real GDP between 1998 and 2018? c) Was the growth rate of nominal GDP higher or lower than the growth rate of real GDP? Explain.Assume that an economy currently has a nominal GDP of $500 billion. If the economy were to grow at 3%, calculate what nominal GDP will be in five years, ten years, twenty years, and forty years if it is able to sustainthat same growth rate each year.
