A pattern in the coefficients of the time fixed effects binary variables may reveal the following in a study of the determinants of total factor productivity growth using panel data: a. b. C. d. e. f. total factor productivity shocks for particular entities in the panel. total factor productivity shocks for individual entities. there is no economic information that can be retrieved from these coefficients. An increase in total factor productivity that benefits all entities equally a given year. All of the above. None of the above.

A pattern in the coefficients of the time fixed effects binary variables may reveal the following in a study of the determinants of total factor productivity growth using panel data: a. b. C. d. e. f. total factor productivity shocks for particular entities in the panel. total factor productivity shocks for individual entities. there is no economic information that can be retrieved from these coefficients. An increase in total factor productivity that benefits all entities equally a given year. All of the above. None of the above.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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5 Define total factor productivity (TFP). Show how to use the production function to estimate the TFP for Mexico relative to the United States. (If you want to use numbers, Mexico’s capital per person (k) was 32% of the U.S.’s and its GDP per capita was 30% of U.S.’s in 2014.) Germany has 2% more capital per person that the U.S., and German GDP per person is about 90% of U.S. GDP per person. Is TFP higher in the U.S. or in Germany?
Assume that we have a Cobb-Douglas type aggregate production function in the form: Y=W.Kr.L1-r where : W=technology and r is standard share parameter of Cobb-Douglas production function. a. Find Marginal Rate of Technical Substitution (MRTS) between K and L. b. Why does (or does not) technology affects MRTS? Explain. c. Find output per effective labor; capital per effective labor (y=Y/WL and k= K/WL ). d. Find elasticity of substitution between K and L. Why does (or does not) the result different from previous question (Question-1) (Y=Ka.Lb) ?
Assume that the labor force is a constant fraction of the total population. In particular, assume where 0 is called the "labor force participation rate" and is a constant number between 0 and 1 (assume it can be 1)[1]. In the USA, the labor force participation rate is 63.3% (i.e., ) and the total population is approximately 327 million people (i.e., ). US population growth is 0.7%. i. Calculate the US labor force, L. ii. Calculate the growth rate of the US labor force. iii. Assuming the US had a simple linear production function, what would be the growth rate of GDP? iv. Assuming the US had a production function with diminishing returns and (which is the actual US “labor share of production"), what should be US GDP growth rate just based on population growth?
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Graphically show the impact of a positive technological shock. Include all three markets: Labor, Product, Capital. Start with initial steady state. Show impact of shock in the initial market. Next show the propagation mechanism--how it carries over into the other two markets. Show at least one set of the feedback loop, Show the new steady state.
Suppose labor productivity increased by 4% last year. If technological progress was 3%, by how much must have the capital-to-labor ratio increased? A) 3%. B) 2%. C) 1%. D) 0%.
Assume that we have a Cobb-Douglas type aggregate production function in the form: Y=W.Kr.L1-r where : W=technology and r is standard share parameter of Cobb-Douglas production function. b. Why does (or does not) technology affects MRTS? Explain. c. Find output per effective labor; capital per effective labor (y=Y/WL and k= K/WL ). d. Find elasticity of substitution between K and L. Why does (or does not) the result different from previous question (Question-1) (Y=Ka.Lb) ? (Question 1: Assume that we have a Cobb-Douglas type aggregate production function in the form: Y=Ka.Lb )
Structural transformation that happens as a process of economic development is characterized by which of the following? [Select Multiple] Group of answer choices As countries develop, the relative contribution of the agricultural sector to total employment and GDP declines As countries develop, the relative contribution of the manufacturing sector to a country's GDP first increases and then falls. As countries develop, the proportion of the population engaged in agriculture stabilizes eventually. As countries develop, the relative contribution of the service sector to a country's GDP first increases and then falls.
Give me correct and accurate answer otherwise i give downvote Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Unemployment rates are spread evenly over segments of the population in different education categories. Asses the validity of this statement. True, unemloyment is a macroeconomic phenomenon affecting all of us equally False, higher levels of education are associated with lower unemployment rates as well as higher wages True, unemployment even influences highly educated and skilled workers as jobs become automated False, individuals without specialized skills can find jobs more easily since they can perform general tasks that are needed in many sectors.
Identify the following variables as procyclical, countercyclical, or acyclical: (1) consumption, (2) real wage, (3) employment, and (4) total factor productivity.
1) Ina diagram of the labour market A) a temporary adverse productivity shock causes the labour supply curve to shift to the left. B) labour supply is a negatively sloped curve. C) labour demand is a positively sloped curve D) the quantity of labour demanded equals the quantity of labour supplied at the equilibrium real wage. E) None of the above 2) Suppose the aggregate production function is given by the following: Y-AN. Given this information, we know that labor productivity is represented by which of the following? A) 1/A B) A C) IN D) N/Y E) None of the above