Macroeconomics Plus MyLab Economics with Pearson eText -- Access Card Package (7th Edition)
7th Edition
ISBN: 9780134890241
Author: Hubbard, R. Glenn, O'Brien, Anthony Patrick
Publisher: PEARSON
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Chapter 11, Problem 11.4.8PA
To determine
The reason for the higher growth of large companies than smaller companies in Mexico.
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Productivity often rises during economic expansions and falls during economic recessions. Can you think of reasons why? Briefly explain. (Hint: Remember that the level of productivity involves both levels of output and levels of labor input.)
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Chapter 11 Solutions
Macroeconomics Plus MyLab Economics with Pearson eText -- Access Card Package (7th Edition)
Ch. 11 - Prob. 11.1.1RQCh. 11 - Prob. 11.1.2RQCh. 11 - Prob. 11.1.3PACh. 11 - Prob. 11.1.4PACh. 11 - Prob. 11.1.5PACh. 11 - Prob. 11.1.6PACh. 11 - Prob. 11.1.7PACh. 11 - Prob. 11.1.8PACh. 11 - Prob. 11.2.1RQCh. 11 - Prob. 11.2.2RQ
Ch. 11 - Prob. 11.2.3RQCh. 11 - Prob. 11.2.4RQCh. 11 - Prob. 11.2.5PACh. 11 - Prob. 11.2.6PACh. 11 - Prob. 11.2.7PACh. 11 - Prob. 11.2.8PACh. 11 - Prob. 11.2.10PACh. 11 - Prob. 11.2.11PACh. 11 - Prob. 11.2.12PACh. 11 - Prob. 11.3.1RQCh. 11 - Prob. 11.3.2RQCh. 11 - Prob. 11.3.3PACh. 11 - Prob. 11.3.4PACh. 11 - Prob. 11.3.5PACh. 11 - Prob. 11.3.6PACh. 11 - Prob. 11.4.1RQCh. 11 - Prob. 11.4.2RQCh. 11 - Prob. 11.4.3RQCh. 11 - Prob. 11.4.4PACh. 11 - Prob. 11.4.5PACh. 11 - Prob. 11.4.6PACh. 11 - Prob. 11.4.8PACh. 11 - Prob. 11.4.9PACh. 11 - Prob. 11.4.10PACh. 11 - Prob. 11.4.11PACh. 11 - Prob. 11.4.12PACh. 11 - Prob. 11.5.1RQCh. 11 - Prob. 11.5.2RQCh. 11 - Prob. 11.5.3PACh. 11 - Prob. 11.5.4PACh. 11 - Prob. 11.5.5PACh. 11 - Prob. 11.5.6PACh. 11 - Prob. 11.5.7PACh. 11 - Prob. 11.5.8PACh. 11 - Prob. 11.5.9PACh. 11 - Prob. 11.1RDECh. 11 - Prob. 11.2RDECh. 11 - Prob. 11.3RDE
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- Say that the average worker in Canada has a productivity level of 30 per hour while the average worker in the United Kingdom has a productivity level of 25 per hour (both measured in U.S. dollars). Over the next five years, say that worker productivity in Canada grows at 1 per year while worker productivity in the UK grows 3 per year. After five years, whiz) will have the higher productivity level, and by how much?arrow_forwardAn article in the Wall Street Journal observes: “For 2008, productivity grew an astounding 2.8% from 2007 even as the economy suffered through its worst recession in decades.” How is it possible for labor productivity to increase if output is falling?arrow_forwardConsider a small island country whose only industry is fishing. The following table presents information about this small economy in two different years. Complete the table by calculating physical capital per worker and labor productivity. Hint: Recall that productivity is defined as the amount of goods and services a worker can produce per hour. In this problem, measure productivity as the quantity of goods per hour of labor. Year Physical Capital Labor Force Physical Capital per Worker Labor Hours Output Labor Productivity (Fishing poles) (Workers) (Fishing poles) (Hours) (Fish) 2027 120 60 1x 3,000 21,000 3x 2028 400 100 2x 3,500 49,000 4x Based on your calculations, (an increase/a decrease) in physical capital per worker from 2027 to 2028 is associated with (an increase/a decrease) in labor productivity from 2027 to 2028. Suppose you're in charge of establishing economic policy for this small island country. Which…arrow_forward
- According to the graph: Select one or more: a. UK workers have more free time than Greek workers. b. UK workers have lower GDP per capita than Spanish workers. c. The relationship between GDP per capita and free time is downward sloping. d. US workers work longer hours than French workers.arrow_forwardBriefly analyse the economic implications of a much stronger South African rand for economic growtharrow_forwardEconomic growth and economic development are essentially one and the same. Comment on this assertion. Mention and briefly explain four sources of economic growth What causes short-run fluctuations in economic growth?arrow_forward
- A typical U.S. worker today works fewer than 40 hours per week, while in 1890, he or she worked 60 hours per week. Does this difference in the length of work weeks matter in comparing the economic well-being of U.S. workers today with that of 1890? Or can we use the difference between real GDP per capita today and in 1890 to measure differ- ences in economic well-being while ignoring differences in the number of hours worked per week? Briefly explain.arrow_forwardEconomic growth around the world The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's average annual growth rate during this period. For example, real income per person in Niger was $945 in 1960, and it actually declined to $570 by 2010. Niger's average annual growth rate during this period was -1.01%, and it was the poorest economy in the table in the year 2010.arrow_forwardCalculate the growth rate in the number of hours worked per capita, total output, and output per capita from the following information: What happens to the growth rates of total output and per capita output if the growth rate of productivity rises to 3.3 percent? What happens to the growth rates of total output and per capita output if the growth rate of the population rises to 2.0 percent?arrow_forward
- Explain the sources of productivity growth in an economy. Be precise, and make sure you are covering all of the mechanisms through which productivity changes in time.arrow_forward1. The table below shows the economic growth rate in Grenada and Canada. Country (Grenada) Years Economic Growth Rate % 2015 6.44 2016 3.74 2017 4.44 2018 4.14 2019 1.98 2020 -11.23 Country (Canada) Years Economic Growth Rate % 2015 0.66 2016 1.00 2017 3.04 2018 2.43 2019 1.86 2020 -5.40 a. Construct a line graph for each country and explain the economic growth rate in comparison of the too countries.arrow_forwardFrom 2010 to 2020, Benin recorded an average economic growth rate of 4% and average labour growth rate of 7%. During this period, the GDP deflator changed from 120 to 145, and the Gini-coefficient changed from 0.671 to 0.608. Regarding the above period, what can you say about the changes in the overall economic performance, including labour productivity, general price level and income distribution from the above data? Briefly explain your answer.arrow_forward
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