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 31CTQ
As technological change makes us more sedentary and food costs increase, obesity is likely. What factors do you think may limit obesity?
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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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- How do low-income families differ from high-income families in terms of their spending habits?arrow_forwardWhich is more important to you, health or unlimited supply for your wants?arrow_forwardJayden's grandmother gives him $240$240 each month, which he spends on pizzas and burgers. Usually, he buys 44 pizzas for $180$180 and spends the remaining $60$60 on 44 burgers. However, the price of 11 pizza has increased by $5$5; the price of a burger has not changed. Now, Jayden will buy only 33 pizzas per month.Calculate how many burgers Jayden can afford to buy if he still wants to spend all the money. If necessary, round any intermediate calculations to two decimal places. For your final answer, write the exact value; do not round.arrow_forward
- Explain how changes in income (budget constraint) and prices affect consumer consumption choices. Think back to a purchase that you made recently. How did you evaluate whether or not you would be purchasing the item?arrow_forwarddescribe new changes to kiwisaverarrow_forwardEconomists in Champaign have been studying the local market for pizza. The market is described in the graph: Market for Pizza 12 11.3 10.8 10 9.7 9. 8.7 7.9 8.1 6.35 5.9 4.4 4.2 3 2.2 2.3 1.6 0.6 446 479 500 526 549 568 602 637 Quantity Some research by the local university shows that eating pizza improves health in several ways. The local government decides to subsidize pizza consumption by paying $2 of every pizza sold(essentially a negative tax of $2). How much will the government spend with the subsidy? Pricearrow_forward
- Using a graph of budget lines and indifference curves, show how an increase in the price of bananas affects the amount of time the individual works.arrow_forwardA political candidate is proposing a large increase in the tax on cigarettes and alcohol. he says I'm not proposing these taxes to raise revenue, but to discourage these obnoxious behaviors. if the prices of cigarettes and alcohol go up most people will quit using them entirely. after all, no one needs to drink or smoke. do you agree or disagree? why? use a graph to help illustrate.arrow_forwardSuppose the government decides that public health requires that people can get cheap condoms. Congress passes a law saying that condoms cannot be priced higher than $0.20 each. a. Show (with supply/demand) and explain how this law will affect the market for condoms. Show (with supply/demand) and explain how this will affect rates of sexually transmitted infections, teen pregnancy, or abortion (you pick whichever one you want).arrow_forward
- What is meant by autarky?arrow_forwardThink back to a purchase that you made recently and respond to the following: How would you describe your thinking before you made that purchase? Did you have any budget constraints? If so, what were they? Would you have made the purchase if the price had increased? Why or why not?arrow_forwardIn the 1940s, you could buy a soda for 5 cents, eat dinner at arestaurant for less than $1, and purchase a house for $10,000.From this statement, it follows that consumers today are worseoff than consumers in the 1940s. Comment.arrow_forward
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