Economics (MindTap Course List)
13th Edition
ISBN: 9781337617383
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
Chapter 8.3, Problem 2ST
To determine
Explain the increase in labor productivity.
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What are the effects of an increase in labor productivity on potential GDP, the quantity of labor, the real wage rate, and potential GDP per hour of labor?
When more and more people join the labour force, the productivity growth increases.
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Chapter 8 Solutions
Economics (MindTap Course List)
Ch. 8.2 - Prob. 1STCh. 8.2 - Prob. 2STCh. 8.2 - The money supply has risen, but total spending has...Ch. 8.3 - Prob. 1STCh. 8.3 - Prob. 2STCh. 8.3 - Prob. 3STCh. 8.5 - Prob. 1STCh. 8.5 - Prob. 2STCh. 8 - Prob. 1QPCh. 8 - Prob. 2QP
Ch. 8 - Prob. 3QPCh. 8 - Prob. 4QPCh. 8 - Prob. 5QPCh. 8 - Prob. 6QPCh. 8 - Prob. 7QPCh. 8 - Prob. 8QPCh. 8 - Prob. 9QPCh. 8 - Prob. 10QPCh. 8 - Prob. 11QPCh. 8 - Prob. 12QPCh. 8 - Prob. 13QPCh. 8 - Prob. 14QPCh. 8 - Prob. 15QPCh. 8 - Prob. 16QPCh. 8 - Prob. 17QPCh. 8 - Prob. 18QPCh. 8 - Prob. 19QPCh. 8 - Prob. 20QPCh. 8 - Prob. 21QPCh. 8 - Prob. 1WNGCh. 8 - Prob. 2WNGCh. 8 - Prob. 3WNGCh. 8 - Prob. 4WNGCh. 8 - Prob. 5WNGCh. 8 - Prob. 6WNG
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Similar questions
- How do gains in labor productivity lead to gains in GDP per capita?arrow_forwardHow do we measure labor productivity? How do changes in labor productivity affect the U.S. standard of living? Does an increase in labor productivity always leads to an increase in standard of living, explain?arrow_forwardOutline the main factors which determine the level of productivity in a country.arrow_forward
- An increase in labor productivity means businesses will produce more output with the same amount of labor. Explainarrow_forwardHow can you say that there is an economic growth in a particular country? Cite some instances to prove your answer.arrow_forwardGive the factors in determining economic growtharrow_forward
- Considering the determinants of productivity, list and explain some things that would tend to prohibit or limit a poor country’s ability to catch up with rich ones.arrow_forwardWhy does an increase in the labor force cause the Market Productivity of Capital to increase?arrow_forwardConsidering the determinants of productivity, in a few paragrahps list and explain some things that would tend to prohibit or limit a poor country’s ability to catch up with rich onesarrow_forward
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