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 21RQ
List some arguments for and against the likelihood of convergence.
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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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- What is short-term momentum? What are long-term reversals?arrow_forwardDiscuss how the theoretical CAPM model is made operational when going from the theory to the empirical practice.arrow_forwardIn which ways the product-cycle model inconsistent with the Heckscher-Ohlin model? In which ways are the two consistent?arrow_forward
- Derive the expression for the speed of convergence for k in the Solow model. Show this is also the speed of convergence for output y. Interpret.arrow_forwardWhy did Keynes’s conjectures hold up well in the studies of household data and short time-series, but fail when long time-series were examined?arrow_forwardIn which ways the product-cycle model inconsistent with the Heckscher-Ohlin model? In which ways are the two consistent? Explain in detail.arrow_forward
- Explain and illustrate the concept of convergence. Discuss the differences between the concepts of convergence and conditional convergence.arrow_forwardWhy, in general, do shocks force people to make changes? Give at least two examples from your own experience.arrow_forwardFind the growth rates of the trend below and interpretarrow_forward
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