Countries that are at the technological frontier must __________ to increase living standards and therefore these economies tend to grow __________ relative to countries that are below the technological frontier. a) adopt technologies, slower b) innovate, faster c) innovate, slower d) adopt technologies, faster

Q: Explain how economic growth and international trade increase consumption possibilities.

A: A production possibilities frontier is the locus of all maximum combinations of two products or two…

Q: How do indigenous knowledge systems contribute to the economy

A: Indigenous Knowledge System:- The Indigenous Knowledge Systems (IKS) Policy is a framework for…

Q: 0 10 20 30 40 50 REFR 37. Assuming robots represents capital goods and beer consumer goods, and the…

A: The production possibility frontiers show the different combinations of two goods that can be…

Q: true or false Technological developments are a fundamental driver of opportunity.

A: Technological developments can possibly set out new open doors and change existing businesses.…

Q: How are social factors affecting the new global innovation economy

A: Innovation Economy The innovation economy is that branch of economics that deals with New…

Q: Climate differences affect the economic development of countries.  For example, undeveloped…

A:

Q: There are two countries in the world: Happytimes and Treehausland. Both countries currently have a…

A: Happytimes's GDP = Current GDP(1 + Growth rate)^15                               = 1*(1 + 0.086)^15…

Q: What are the components of economic growth? How does PPF is used to depict the economic growth of a…

A: Economic growth portrays an expansion in the amount and nature of the economic labor and products…

Q: What will happen to the Philippines in 2030? In terms of; a. Technology

A: The economics as a study is based upon the idea that the resources which are present with the…

Q: Industrialization should start from a sound agricultural base. Why? What can be a contribution of…

A: When talking about agriculture and industrialization, it can be said that agriculture is the primary…

Q: The emergence of Covid-19 should affect developing countries more adversely than technically…

A: A normative statement is a statement that stresses an opinion or belief that is not based on facts…

Q: What is the relationship between innovation and economic development? Explain in detail in micro and…

A: The relationship between Innovation and Economic development can be explained as follows :  Due to…

Q: what are 2 main factors of economic growth according to the PPF

A: Production possibility frontier (PPF) depicts the combinations of two goods that an economy can…

Q: Economic growth typically results in rising standards of living and prosperity. However,  it also…

A: The model's dependent variables are regulations like approachable and inaccessible locations,…

Q: where do we stand in the life cycles of civilizations? Please explain. what direction in the life…

A: (A) Many civilizations lasted around 250 years. approx 10 generations and so on, and all…

Q: What do you think is the importance of innovation in the economic development of a country?

A: The nations around the world tend to operate with the motive of increasing their economic, and…

Q: of computers

A: The knowledge economy is a system of production and consumption which is based upon intellectual…

Q: "Does the Philippines follow the stages of development of industrialized countries? Why

A: A vibrant East Asian Pacific economy, the Philippines has been one of the region's most dynamic…

Q: Some resource-rich countries have succeeded in converting resource wealth into longterm and…

A: Economic development refers to the sustained, long-term growth of an economy, usually accompanied by…

Q: Why are people called as the real products of development?

A: Economic growth is a notion that reflects on the aggregate economic aspect of a specific nation and…

Q: Consider a country where per capita GDP (Y/L) is 1/4 of the one in the US and the capital per worker…

A: Per worker production function of the US: (Y/L) = A(K/L)1/3 Where the per capita GDP in the US is…

Q: SOLOW'S MODEL Consider following information from China and New Zealand in table: China 6.5% 11,169…

A: The Solow Model highlights the prospect of economic growth in the long run. It identifies the…

Q: What does integration of Economies mean?

A: An economy is a complex system of interconnected production and consumption activities that govern…

Q: How does agglomeration economies work? Cite the case of the Philippines to explain the answer

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Q: Assuming the PPF is shifting from PPFo to PPFn, which of the following explains the cause or causes…

A: Production possibility frontier (PPF) is the graphical representation of different combinations of…

Q: Which of the following is not a drawback for transitioning economies? Select one: a. Command…

A: A transition economy is defined as the economy which is evolving from a centrally planned economy to…

Q: How do agglomeration economies work? Relate it to the case of the Philippines to explain your answer

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Explain the context for the emergence and justification for the formation of BRICS as a new economic…

A: The BRICS, a coalition including Brazil, Russia, India, China, and South Africa, has in its short…

Q: What has happened to real GDP per person in the industrialized countries over the past century? What…

A: The GDP per capita is an approximation of the total amount of goods and services available per…

Q: Discuss population growth, resource consumption, and their consequences

A: In outward bowed concave PPC type of PPC, there is supposed to be increasing opportunity cost as…

Q: The figure shows the production possibility frontier for a country. Suppose the country is producing…

A: Point D:Rice: 12 tons per yearWine: 9 thousand bottles per yearPoint C:Rice: 15 tons per year Wine:…

Q: Based on article "Technology and economic growth: From Robert Solow to Paul Romer" by Rui Zhao,…

A: Conventional economic models frequently viewed technology as a "black box," presuming it to be…

Q: Reasons why resource rich countries tend to grow slower as compared to resource poor counter paths

A: Resource-rich countries are those that have abandoned sources of natural resources such as…

Q: In a farway country, banana is the most important crop exported to rest of the world. Data about…

A: The amount of money spent on consumption of certain goods and services is known as consumption…

Q: explain how economic growth is measured and with the aid of a diagram, discuss how a PPF may be used…

A: Economic growth of a country is a quantitative measurement of its economic strength. Though there…

Q: It has been observed that all industrialized countries have become "service economies" in recent…

A: Industrialized countries (or developed countries) has high GDP per capita, high standard of living,…

Q: To answer this question please refer to chapter 13, "Development Economics: The Wealth and Poverty…

A: Charles Wheelan's Naked Economics:Undressing the Dismal Science is a simple book to understand the…

Q: Consider two economies that spend different shares of their gross domestic product to R&D…

A: The funding of R&D is only part of what the government can do to foster innovation. Government…

Q: Nations try to reconcile conflicting economic goals. The main one is: Innovation versus economic…

A: Scarcity is one of the economic problems which means human wants are unlimited but the supply of…