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Economics:

10th Edition
BOYES + 1 other
Publisher: Cengage Learning
ISBN: 9781285859460

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BuyFindarrow_forward

Economics:

10th Edition
BOYES + 1 other
Publisher: Cengage Learning
ISBN: 9781285859460
Chapter 16, Problem 15E
Textbook Problem
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How would each of the following affect productivity in the United States?
a. The quality of education in high schools increases.
b. A cutback in oil production by oil-exporting nations raises oil prices.
c. A large number of unskilled immigrant laborers move into the country.

To determine

(a)

Impact on productivity in the United States

If the quality of education in high school increases

Explanation of Solution

An increase in quality of education will in turn increase the productivity of future labor force, as labor force is one of the important variables affecting the economic growth...

To determine

(b)

Impact on productivity in the United States

If there is a cutback in oil production by oil-exporting nations raises oil prices

To determine

(c)

Impact on productivity in the United States

If a large number of unskilled immigrants laborers move into the country.

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