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 27CTQ
Describe some of the political and social tradeoffs that might occur when a less developed country adopts a strategy to promote labor force participation and
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Countries X and Y have the same amount of labour and the same level of technology, but country X has less capital. Country X's labour productivity will be __________ Y's and its total factor productivity will be __________ Y's.
higher than; lower than
higher than; the same as
the same as; lower
lower than; lower than
lower than; the same as
The per-hour output produced by a worker describes the:
Group of answer choices
labor force participation rate.
productivity of workers.
capital per worker ratio.
nominal worker growth standard.
Identify THREE public policies that can stimulate employment and facilitate economic growth in an economy in the caribbean
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
- Outline the main factors which determine the level of productivity in a country.arrow_forwardIt is important of both manufacturing and service sectors have the widest variation in the developing country. Which component in examining a developing country is true? a. Relative importance of its public and private sectors b. Endowments of physical and human resources c. Nature of industrial structure. d. Distribution of power and political structure within the nation.arrow_forwardWould you expect the relative returns to primary education, on the one hand, and secondary and postsecondary education, on the other hand, to change as economic development takes place?arrow_forward
- What actions could the government take to increase labor productivity? Name twoarrow_forwardAll of the following lead to an increase in productivity except for a. an increase in physical capital b. an increase in the size of the labor force c. an advance in technological knowledge d. an increase in human capitalarrow_forwardAn increase in capital stock Group of answer choices provides valuable services directly. causes economic growth. All of the above enhances labor productivity.arrow_forward
- With reference to a Cobb-Douglas production function, if a country has a declining labor share that is expected to continue in the future, does that imply that the country will experience faster economic growth (growth in GDP per capita) in the future?arrow_forwardWhich one of the following is not among the Kaldor facts? A) secular growth in real GDP B) stability of capital-output ratio C) large income level differences across countries D) roughly constant labor income share in GDParrow_forward
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