Bundle: Macroeconomics, Loose-leaf Version, 13th + MindTap Economics, 1 term (6 months) Printed Access Card
13th Edition
ISBN: 9781337742412
Author: Roger A. Arnold
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 17, Problem 4WNG
To determine
Impact of change in the labor market on
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Present an analysis that shows how an increase in labor productivity (perhaps from more investment or perhaps from improved technology) will tend to impact the economy. Identify which of your results fit what we actually observe for the U.S. economy over time. Complete your answer to this question by identifying one economic policy you think will help enhance labor productivity.
Which of the following are domestic economic factors
you would consider for macroeconomic analysis ?
Gross domestic product
Unemployment rates
inflation and interest rate
Consumer sentiment
All of the above
Explain how a technological advancement in one sector of the economy can lead to a change in the number of people who work in another sector of the economy. Give an example to help support your answer.
Chapter 17 Solutions
Bundle: Macroeconomics, Loose-leaf Version, 13th + MindTap Economics, 1 term (6 months) Printed Access Card
Knowledge Booster
Similar questions
- During the course of the twentieth century, the average workweek in the United States has gotten shorter and Americans have enjoyed greater amounts of leisure time. How has this development affected potential GDP and labor productivity?arrow_forwardIn the circular flow model, the factors of production flow in the?arrow_forwardDefine Economic Stagnationarrow_forward
- A complete macroeconomic model would not like include the following market A- labor B- capital C- underground market D- national goods and servicesarrow_forwardHello, Can you explain? Can a technological advancement in sector “ X” of the economy affect the number of people who work in sector “Y” of the economy? Explain.arrow_forwardDoes the "new economy" actually represent a new structure and culture for workers in the U.S.arrow_forward
- Barcode technology spurred a lot of investment in retailing.How did it alter the retailing production function?What would a similar amount of investment have accomplised without the new technology?arrow_forwardUsing the one-period closed economy model, show graphically the effects of a decrease in government spending on consumption, leisure, real wage rate, output, labour demand, labour supply.arrow_forwardMexico and Brazil have very different trading patterns. While Mexico trades mainly with the United States, Brazil trades about equally with the United States and with the European Union. In addition, Mexico does much more trade relative to its GDP. Explain the differences using the gravity model.arrow_forward
- Imagine two countries, i and j. You have the following information: si = 2 sj hi= hj 2Ai = Aj What can you infer about long-run income per worker differences between these countries? Explain formally.arrow_forwardGraphically show the Circular Flow of Income and Goods (Closed Economics. Add in Government Sector) as presented in the virtual/remote lecture. Include all three markets: Labor, Product, Capital, and the Government sector. Indicate the flow between the markets and sector--directions of flow and proper labels.arrow_forwardAccording to the East Asia and Pasific Economic update published by the World Bank in April2015, the following factors have affected China’s real GDP in 2015.• Global economic recovery supports a moderate increase in China’s exports.• China benefits from a fall in the world price of oil• Chinese government to cut excess capacity in heavy industry• U.S firms to relocate their labor-intensive manufacturing industries to low-cost acountries. 1. How each of the above factors changes short-run aggregate supply, long run aggregate supply, aggregate demand, or some combination of them.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning