A decrease in the capital stock would be expected to a. increase real GDP per capita. b. decrease the labor force. c. decrease real GDP per capita. d. increase the level of output.
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- What is capital deepening?how do gains in worker productivity lead to gains in per capita GDP a- As workers produce more, their wages will rise an d they will have more disposable income for consumption, leading to a rise in GDP per capita. b- The amount a worker can produceA country's standard of living is best measured by O the population growth rate. O real GDP. O real GDP per capita. the inflation rate, ASUS
- How does a tax on interest income influence the economic growth rate? A tax on interest income drives a wedge between the interest rate _______ by borrowers and the interest rate _______ by lenders, which _______ the amount of saving and investment and _______ the economic growth rate. A. received; paid; lowers; slows B. paid; received; increases; increases C. received; paid; increases; increases D. paid; received; lowers; slows ThanksLast year, real GDP per person was $4,200. The year before it was $4,000. By what percentage did real GDP per person grow during the period? a. 200 percent b. 10 percent c. 5 percent d. 50 percent.Suppose an economy's real GDP is $5,000 billion. There are 125 million workers, each working an average of 2,000 hours per year. a. What is labor productivity per hour in this economy?
- Most of the poor countries experience slow growth because of all the following reasons except O A. the government's failure to enforce the rule of law. B. low rates of saving and investment. C. frequent civil disturbances such as wars and revolutions. D. excellent public health and education. The unemployment rate A. typically rises during a recession and falls immediately after the recession has ended. B. typically falls during a recession and rises after the recession has ended. C. typically falls during a recession and after the recession has ended. D. typically rises during a recession and after the recession has ended.Please the answer correct please ASAP Don't answer by pen paper please. he golden rule level of capital refers to: Question 19Answer a. the level of capital that maximises output per worker. b. the level of capital that maximises the standard of living. c. the level of capital that maximises the level of output in the steady state. d. the level of capital that maximises consumption per worker. e. the level of capital that maximises consumption per worker in the steady state.Last year real GDP per person in the imaginary nation of Olympus was $4,260. The year before it was $4,100. By about what percentage did real GDP per person grow during the period? a. 1 percent b. 0.04 percent c. 16 percent d. 4 percent
- . Consider the following data for an economy. Year 1 2 Real GDP $56,000 $78,500 Population 200 263 a. Calculate the real GDP growth rate. b. Using the rule of 70, approximately how many years will it take the economy's real GDP to double? Calculate the standard of living in each of the years. C. d. e. Using the values determined in part c, calculate the standard of living growth rate. Without using the rule of 70, how many years will it take for the standard of living to triple?The data below refers to the output produced and sold in Sustainaland; a hypothetical 2-good nation of vegans: Tofu Quinoa Year Price Quantity Price Quantity 2018 $8 300 $3 2000 2019 $9 400 $4 2500 2020 $10 500 $5 3000 (a) Calculate the percentage growth rate in nominal GDP from 2018 to 2019, and 2019 to 2020. (b) Calculate the percentage growth rate in real GDP from 2018 to 2019, and 2019 to 2020, using 2018 as the base year. (c) Calculate the GDP deflator for 2019 and 2020. (d) Using the GDP deflator, calculate the inflation rate in 2020.How is economic growth measured? Question 1Answer a. The percentage change in the employment rate b. The percentage change in income taxes collected by the government c. The percentage change in real GDP d. The percentage change in the unemployment rate
