EBK ECONOMICS
13th Edition
ISBN: 8220106799642
Author: PARKIN
Publisher: PEARSON
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Question
Chapter 23.3, Problem 5RQ
To determine
Explain the effects of an increase in the population on potential GDP, quantity of labor, real wage rate and potential GDP per hour of labor.
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What are the two main factors that affect labor productivity?
What determines how productive workers are? How do gains in labor productivity lead to gains in GDP per capita?
Under what circumstances does labor productivity grow?
Chapter 23 Solutions
EBK ECONOMICS
Ch. 23.1 - Prob. 1RQCh. 23.1 - Prob. 2RQCh. 23.1 - Prob. 3RQCh. 23.2 - Prob. 1RQCh. 23.2 - Prob. 2RQCh. 23.2 - Prob. 3RQCh. 23.3 - Prob. 1RQCh. 23.3 - Prob. 2RQCh. 23.3 - Prob. 3RQCh. 23.3 - Prob. 4RQ
Ch. 23.3 - Prob. 5RQCh. 23.3 - Prob. 6RQCh. 23.4 - Prob. 1RQCh. 23.4 - Prob. 2RQCh. 23.4 - Prob. 3RQCh. 23.5 - Prob. 1RQCh. 23.5 - Prob. 2RQCh. 23.5 - Prob. 3RQCh. 23 - Prob. 1SPACh. 23 - Prob. 2SPACh. 23 - Prob. 3SPACh. 23 - Prob. 4SPACh. 23 - Prob. 5SPACh. 23 - Prob. 6SPACh. 23 - Prob. 7SPACh. 23 - Prob. 8SPACh. 23 - Prob. 9APACh. 23 - Prob. 10APACh. 23 - Prob. 11APACh. 23 - Prob. 12APACh. 23 - Prob. 13APACh. 23 - Prob. 14APACh. 23 - Prob. 15APACh. 23 - Prob. 16APACh. 23 - Prob. 17APACh. 23 - Prob. 18APACh. 23 - Prob. 19APACh. 23 - Prob. 20APACh. 23 - Prob. 21APACh. 23 - Prob. 22APACh. 23 - Prob. 23APACh. 23 - Prob. 24APACh. 23 - Prob. 25APA
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Similar questions
- Why do Urban populations are capital accumulating whereas rural populations are capital consuming?arrow_forwardWhich of the following would not affect labor productivity, i.e. more output per unit of labor hour? Select one: a. When interest rates decrease and government spending increase. b. when labor is reallocated from less-efficient industries to more-efficient industries. c. when production is better organized and managed d. technological progress e. the health, training, education, and motivation of workers improve f. the quantity of capital goods available to workersarrow_forwardExplain how a technological advancement in one sector of the economy can lead to a change in the number of people who work in another sector of the economy. Give an example to help support your answer.arrow_forward
- What is the Demand growth rate?arrow_forwardWhy is productivity important for the economy?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
- How is it possible for labor productivity to increase if output is falling?arrow_forwardWhy do poorer societies have higher population growth rates than wealthier societies? How does poverty affect the environment? How does affluence affect the environment?arrow_forwardWhat is a knowledge worker?arrow_forward
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