MICROECONOMICS FOR TODAY (LL)-W/MINDTAP
10th Edition
ISBN: 9781337739115
Author: Tucker
Publisher: CENGAGE L
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Question
Chapter 17, Problem 12SQ
To determine
The point of highest rate of growth in the economy.
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Check out a sample textbook solutionStudents have asked these similar questions
In the long run, what will be the source of a country’s economic growth?
a.Labor laws
b.Labor productivity
c.Labor issue
d.Labor costs
Economic Growth – End of Chapter Problem
One analyst predicts that self-driving cars will ultimately reduce the number of cars that are produced. She argues that
because self-driving cars can drive other people rather than sitting in people's driveways and garages, the United States will
need to produce fewer cars. She argues that growth will slow because we are producing a decreasing number of cars each
year. Do you agree? Why or why not?
Producing fewer cars, everything else equal, will
economic growth. However, the resources no longer used
to produce cars
be used to produce other items. Furthermore, the self-driving cars could
opportunities for new businesses, which would have the
effect. Therefore, the ultimate impact self-driving
cars would have on economic growth is
2. You are a manager at a large shampoo company and on the search for future
markets. You identified two low income countries that look very dynamic:
Country A has a GDP/capita growth rate of -1% and population growth
rate of 9%. Country B has a GDP/capita growth rate of 7% and constant
population.
(a) Discuss which country you should focus on for your expansion.
(b) Discuss if your answer would change if the products you are trying to
sell are cars.
Chapter 17 Solutions
MICROECONOMICS FOR TODAY (LL)-W/MINDTAP
Ch. 17.2 - Prob. 1GECh. 17.2 - Prob. 2GECh. 17 - Prob. 1SQPCh. 17 - Prob. 2SQPCh. 17 - Prob. 3SQPCh. 17 - Prob. 4SQPCh. 17 - Prob. 5SQPCh. 17 - Prob. 6SQPCh. 17 - Prob. 7SQPCh. 17 - Prob. 8SQP
Ch. 17 - Prob. 9SQPCh. 17 - Prob. 10SQPCh. 17 - Prob. 11SQPCh. 17 - Prob. 12SQPCh. 17 - Prob. 1SQCh. 17 - Prob. 2SQCh. 17 - Prob. 3SQCh. 17 - Prob. 4SQCh. 17 - Prob. 5SQCh. 17 - Prob. 6SQCh. 17 - Prob. 7SQCh. 17 - Prob. 8SQCh. 17 - Prob. 9SQCh. 17 - Prob. 10SQCh. 17 - Prob. 11SQCh. 17 - Prob. 12SQCh. 17 - Prob. 13SQCh. 17 - Prob. 14SQCh. 17 - Prob. 15SQCh. 17 - Prob. 16SQCh. 17 - Prob. 17SQCh. 17 - Prob. 18SQCh. 17 - Prob. 19SQCh. 17 - Prob. 20SQ
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Similar questions
- Suppose that society decided to reduce consumption and increase investment. i. How would this change affect economic growth? ii. What groups in society would benefit from this change? iii. What groups might be hurt?arrow_forwardWHAT IS THE IMPORTANCE OF ECONOMIC GROWTH?arrow_forwardDescribe economic growth and how it is stimulated by education and training, capital accumulation, and technological improvements.arrow_forward
- 1. What is a production possibility curve and explain points of efficiency, inefficiency, and not attainable. 2. Explain the law of increasing opportunity cost in a production possibility curve. What is the reason for increasing opportunity cost? 3. How can a country experience economic growth?arrow_forward_____ would most likely result in the economic growth of a nation. A. A decrease in the productivity of labor B. A decrease in the supply of labor due to emigration C. A decrease in the stock of physical capital D. An increase in the rate of growth of population E. An increase in the productivity of laborarrow_forward
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