Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Textbook Question
Chapter 20, Problem 11SCQ
Would you expect capital deepening to result in diminished1‘etmns? Why or why not? Would you expect improvements in technology to result in diminished returns? Why or why not?
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Chapter 20 Solutions
Principles of Economics 2e
Ch. 20 - Explain what the Industrial Revolution was and...Ch. 20 - Explain the difference between property rights and...Ch. 20 - Are there other ways in which we can measure...Ch. 20 - Assume there are two countries: South Korea and...Ch. 20 - What do the growth accounting studies conclude are...Ch. 20 - What policies can the government of a free-market...Ch. 20 - List the areas where government policy can help...Ch. 20 - Use an example to explain why, after periods of...Ch. 20 - Would the following events usually lead to capital...Ch. 20 - What are the advantages of backwardness for...
Ch. 20 - Would you expect capital deepening to result in...Ch. 20 - Why dues productivity growth in high-income...Ch. 20 - How did the Industrial Revolution increase the...Ch. 20 - How much should a nation be concerned if its rate...Ch. 20 - How is GDP per capita calculated differently from...Ch. 20 - How do gains in labor productivity lead to gains...Ch. 20 - What is an aggregate production function?Ch. 20 - What is capital deepening?Ch. 20 - What do economists mean when they refer to...Ch. 20 - For a high-income economy like the United States,...Ch. 20 - List some arguments for and against the likelihood...Ch. 20 - Over the past 50 years, many countries have...Ch. 20 - Labor Productivity and Economic Growth outlined...Ch. 20 - Change in labor productivity is one of the most...Ch. 20 - Refer back to the Work It Out about Comparing the...Ch. 20 - Education seems to be important for human capital...Ch. 20 - Describe some of the political and social...Ch. 20 - Why is investing in girls education beneficial for...Ch. 20 - How is the concept of technology, as defined with...Ch. 20 - What sorts of policies can governments implement...Ch. 20 - As technological change makes us more sedentary...Ch. 20 - An economy starts off with a GDP per capita of...Ch. 20 - An economy starts off with a GDP per capital of...Ch. 20 - Say that the average worker in Canada has a...Ch. 20 - Say that the average worker in the U.S. economy is...
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Similar questions
- What are the implications of this model for "convergence" of income levels and income growth rates - conditional on differences in endowments, government policies, and other exogenous factors - across countries? -arrow_forwardSuppose that two countries are exactly alike in every respect except that capital depreciates at afaster rate in Country A than in Country B due to harsh climate conditions. In which country willthe Golden Rule level of capital per worker be higher? Illustrate graphically.arrow_forwardSuppose you are studying a country whose value of output per worker y = 40, capital per worker k = 189, and human capital per worker h = 2. Further assume the share of income paid to capital in this country =0.1. What is the value of for this country? Enter your answer rounded to one decimal place.arrow_forward
- This is a really straightforward problem of human capital acquisition. Let ht stand for generation t's human capital (i.e., human capital of people born in year t). Assume that education spending, represented by x and quantified in $1,000 US dollars, builds human capital. If x = 30, the entire expenditure is 30,000 dollars, and the individual's human capital is ht = 2x.Assume that everyone has the same amount of human capital and that production per person is the same.Individual is yt = Aht, where A > 0 is a constant technological parameter.Find yt's (long-term) growth rate. Display all of your work and explain how you arrived at your conclusions.arrow_forwardHow significant an issue is this for the countries studied? Consider the implications of income inequality on growth and stability.arrow_forwardExplain the opportunity cost of investing in capital. Is there any difference in the opportunity cost of investing in human capital versus physical capital?arrow_forward
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