Describe how the labor force, the nation's capital stock, and the rate of technical progress contribute to potential GDP growth and labor productivity.

Q: Which of the following does NOT influence growth of labor productivity? discovery of new…

A: Labor productivity refers to the productivity or total output produced by the labor employed.  Labor…

Q: Higher productivity leads to lower levels of economic growth.

A: Economic growth is refers to sustained increase in real GDP and aggregate output in the economy.…

Q: Explain in your words that how a nation improves productivity?

A: The comparison between the amount of goods and services produced and the quantity of inputs required…

Q: Which best describes economic growth? a) increase in labor force participation rate b) a decrease…

A: When real GDP increases for longer time.It best describes economic growth.

Q: Define Economic Growth. How has migration into America over the past 400 years contributed to…

A: 1.Economic growth is defined as production of goods and services in a particular year.Comparison of…

Q: Country A and country B have the same Cobb-Douglas production function except country A has a…

A: The Cobb-Douglas production function is a mathematical equation used to represent the relationship…

Q: ​Capital formation is a key component of economic growth.  True  False

A: Capital Formation is that part of the output of an economy which is currently produced and is…

Q: Economic growth accounting studies show that Group of answer choices Improvements in physical…

A: Enterprise is carried out by entrepreneur and therefore enterprise would be occupationally mobile if…

Q: Explain the characteristics of knowledge and its effects on economic growth by comparing Labor and…

A: Human capital: - it is an asset in the form of the efficiency of a worker which is related to the…

Q: Explain how the saving rate and the rate of population growth affect the steady-state level of…

A: Steady State Growth: A steady-state growth rate refers to an economy that grows at a constant rate.…

Q: Consider the following table displaying annual growth rates for nations​ X, Y, and​ Z, each of which…

A: We have a table that displays annual growth rates for nations X, Y, and Z each of which entered 2020…

Q: Labor productivity and economic growth outlined the logic of how increased productivity is…

A: Labor(L) productivity refers to the amount of output(Q) produced per unit of labor(L) input.The…

Q: In the mid-1990s, it appeared that productivity growth increased substantially in the U. S, economy.…

A: The economy of the United States of America (US) experienced around 25 years of sluggish gains…

Q: Why did Vietnam experience a low economic growth rate in the decade after the end of the Vietnam…

A: The U.S. economy suffered significantly from the War In Vietnam. President Lyndon Johnson started an…

Q: Countries X and Y have the same amount of labour and the same level of technology, but country X has…

A: Labor productivity: It is the measure of how efficiently labor is used in production and is…

Q: Discuss the function of technological progress and how it adds to the process of economic growth…

A: Economic growth is defined as the increase in the production of goods and services compared to…

Q: When more and more people join the labour force, the productivity growth increases.   True  False

A: The labor force refers to the number of people who are currently hired or actively looking for…

Q: Production and Growth

A: Economic development can be defined both in qualitative and quantitive terms.  development depends…

Q: The government of the country Excel provides a large number of grants for scientists to research new…

A: Meaning of Economic Growth: The term economic growth refers to the growth towards the internal…

Q: Considering the determinants of productivity, list and explain some things that would tend to…

A: The productivity refers to the efficiency in production of goods and services. It is described as…

Q: Outline the main factors which determine the level of productivity in a country

A: Productive of a country is determined by the level of goods and services manufactured in the…

Q: Considering the determinants of productivity, list and explain some things that would tend to…

A: There are four determinants of productivity. They are: Physical capital Human capital Natural…

Q: Why is it important to study productivity? How do we determine productivity? Give an example of each…

A: It is essential to concentrate on efficiency since it decides the expectations for everyday comforts…

Q: China had about same per capita GDP as that of India in 1970s. In the intervening decades, per…

A: Government uses fiscal policy to increase economic activities by increasing aggregate demand. Now…

Q: what does it mean by productivity, why it is important and how to improve productivity growth for an…

A: An economy is defined as a vast network of interrelated production, consumption, and trade…

Q: East Asian countries grew at fast rates because  they save and invest an unusually high percentage…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Discuss the challenges for the Chinese economy in sustaining the accelerated rate of economic…

A: Economic growth is the rise in an economy's production of goods and services. The rise in capital…

Q: If economic output is increased by increasing the number of people working in the economy, then *

A: It is said that the economy increases it output , by increasing the labors in the economy .

Q: Important of relief features to the economic growth of a country

A: Relief features are no example of waste where water directs are available.  In the investigation of…

Q: The key to economic growth for a country is a) investment. b) net exports. c)government spending.…

A: Economic growth is characterized as the expansion in the production of goods and services in an…

Q: Which is NOT a source of convergence of GDP (Gross Domestic Product) per capita between rich and…

A: The convergence of GDP (Gross Domestic Product) per capita between rich and poor countries means…

Q: Calculate real growth per capita in the following countries: Instructions: Enter your responses…

A: To calculate the real growth per capita, we need to use the formula:Real growth per capita = Real…

Q: Answer the following options Q#9) What has been true about the long term growth rate and growth…

A: GDP is the monetary worth of all products and services generated inside a country's borders in a…

Q: Determine which of the following statement about economic growth and labour productivity is true or…

A: Economic growth and labor productivity has very close relationship as improved labor productivity…

Q: Per capita income (or output) is the general measure used to compare the standard of living between…

A: If the country's population growth is higher than its economic growth, the per capita income will…