MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
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Question
Chapter 20, Problem 13SQ
To determine
The point of lowest rate of
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In a nation with excessive population growth, and unskilled labor, the production possibilities curve tends to:
Group of answer choices
Increase at a decreasing rate.
Remain unchanged.
Reach the unattainable point.
Shift to a point on the graph which reflects growth.
Increase and then decrease.
Which of the following is the cost of economic growth?
a.
sacrifice of greater safety
b.
opportunity costs of workers’ time
c.
sacrifice of a cleaner environment
d.
all of the above
Explain why economic growth leads to lower death rates and better health?
Chapter 20 Solutions
MACROECONOMICS FOR TODAY
Ch. 20.2 - Prob. 1GECh. 20.2 - Prob. 2GECh. 20 - Prob. 1SQPCh. 20 - Prob. 2SQPCh. 20 - Prob. 3SQPCh. 20 - Prob. 4SQPCh. 20 - Prob. 5SQPCh. 20 - Prob. 6SQPCh. 20 - Prob. 7SQPCh. 20 - Prob. 8SQP
Ch. 20 - Prob. 9SQPCh. 20 - Prob. 10SQPCh. 20 - Prob. 11SQPCh. 20 - Prob. 12SQPCh. 20 - Prob. 1SQCh. 20 - Prob. 2SQCh. 20 - Prob. 3SQCh. 20 - Prob. 4SQCh. 20 - Prob. 5SQCh. 20 - Prob. 6SQCh. 20 - Prob. 7SQCh. 20 - Prob. 8SQCh. 20 - Prob. 9SQCh. 20 - Prob. 10SQCh. 20 - Prob. 11SQCh. 20 - Prob. 12SQCh. 20 - Prob. 13SQCh. 20 - Prob. 14SQCh. 20 - Prob. 15SQCh. 20 - Prob. 16SQCh. 20 - Prob. 17SQCh. 20 - Prob. 18SQCh. 20 - Prob. 19SQCh. 20 - Prob. 20SQ
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- The great 18th-century economist Adam Smith wrote, "Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things ' Explain how each of the three conditions Smith describes would promote economic growth. To find additional study resources, visit cengagebrain.com, and search for "Mankiw."arrow_forwardWhy are people called as the real products of development?arrow_forwardChoose the correct statement about economic growth theories. A. Modern-day Malthusians point to global warming and climate change as reasons to believe that eventually real GDP per person will decrease. B. Classical growth theory tells us profit is the spur to technological change. C. According to new growth theory, growth occurs because knowledge and physical capital do not experience diminishing returns. D. New growth theory is sometimes called Malthusian theory.arrow_forward
- Look around you and try to identify ten (10) objects/items that you may consider as evidences of Economic growth. On each item, explain why you consider it as proof of economic growth. Then try to define Economic Growth using those observations.arrow_forwardWhy does adding capital to a production function make the economy more productive? What are diminishing returns to capital? How does technology affect productivity and growth?arrow_forward_____ shows roughly how long it will take a nation to double its output at various growth rates. A. The GDP deflator B. The rules of the game C. The production possibilities curve D. A per-worker production function E. The Rule of 70arrow_forward
- Economic growth is the expansion of production possibilities and is described as a leftward shift of the production possibilities frontier. a.False b.Truearrow_forwardWhich one of the following is not true for the process of long-run economic growth? A) Societies endowed with higher levels of human capital grow faster in the long run. B) Societies that save a larger fraction of national income are richer in the long run. C) In economies with a larger number of firms, the economy grows faster in the long run. D) Fertility is both a consequence and a cause of long-run economic growth.arrow_forwardQ) The economist of country A is considering the following list of policies. For each of the following policies, determine which factor of growth that the policy is related to((1) natural resources; (2) physical capital; (3) human capital; (4) technology; or(5) institutions): a) Government allows more workers to immigrate b) Government relaxes the regulations for firms to borrow c) Government lends money to farmers to buy machines. d) Government plants more trees to protect the environment. e)Government encourages citizens to vote Solve this earlyarrow_forward
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