Explain how a technological advancement in one sector of the economy can lead to a change in the number of people who work in another sector of the economy.  Give an example to help support your answer.

Q: If personal income is the currently the same in two countries "India" and "China," but India has a…

A: Personal income is the amount of money collectively received by the inhabitants of a country.

Q: In 1980 Denmark had a GDP of $70 billion (measured in U.S. dollars) and a population of 5.1 million.…

A: Before we solve the above problem, let us first understand some key concepts:  While GDP measures…

Q: In the long run, the growth rate of output per worker is determined by the: the saving rate only the…

A: Steady-state growth rate Where,  'n' is the population growth rate 'g' is technological progress or…

Q: How did De Beers acquire a monopoly in the market for diamond? b) How did De Beers increase the…

A: Monopoly refers to a situation where a single firm possesses a dominant power over the entire…

Q: If US per capita GDP is $50,000 and grows at 3% per year, what will US per capita GDP be in 70…

A: Given: US per capita GDP=Present value=PV=$50,000Growth rate=i=3%n=70 years

Q: uppose that K(2021)/N < K(2015)/N, where K(2021) is capital in year 2021 and K(2015) is capital in…

A: Labor is an input that produces goods and services by converting the inputs into output. It means…

Q: One of the key factors that determine an economy's real GDP i labor productivity, which is a measure…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: The graph shows the U.S. productivity curve in 1960.    Draw a point to show real GDP per hour of…

A: * ANSWER :-

Q: Data measuring the economic growth rate, as measured the year after a major natural disaster, for…

A: Economic growth: - economic growth is the increase in the quantity of goods and services in an…

Q: if a nation has a population of 100 million, a labor force of 60 million, GDP of $100 billion , then…

A:

Q: Please explain correctly. Economics According to the 2016 Human Development Report (see pp.…

A: GDP or the gross domestic product of an economy is the value of all the final goods and services…

Q: why is the reason that some country are not yet developed

A: A country is said to be developed if it has advanced technology and advanced infrastructure. A…

Q: An economy starts off with a per capita GDP of $4100. How large will per capita GDP be if it grows…

A: GDP is an estimation that looks to catch a country's monetary result. Nations with bigger GDPs will…

Q: In his 2020 State of the Nation Address (SoNA), president of South Africa humbly noted... "Even if…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Find the economic growth for this economy                          [05Marks]…

A: The economic growth rate of the current year = [(GDP in current year - GDP of previous year) / GDP…

Q: What is the Measure of per Capital Real GDP so important? If an economist judges the welfare of the…

A: Per capita real GDP is important because it measures the average income of people.

Q: An increase in the amount of human capital in the economy will                          ["decrease",…

A: Human capital refers to the cumulative knowledge, methods, skills, experience, personality…

Q: In what role do you think does savings and investments play in the economy? Explain your answer. In…

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

Q: Would you expect the relative returns to primary education, on the one hand, and secondary and…

A: In an economy, it can be seen that primary education is mandatory for all people, while higher…

Q: What creates or stimulates the rate of economic growth in the economy, in macroeconomics

A: In macroeconomics, the rate of economic growth comes from the demand side and supply side.…

Q: In macroeconomics, the connection from inputs to outputs for the entire economy is called…

A: Aggregate demand refers to the total amount of goods and services that are produced and are ready…

Q: Which of the following would lead to an increase in real GDP per capita all other things equal? * a…

A: Real GDP per capita = (Real GDP / Population) Real GDP = Base year price * Current year output.…

Q: What are the effects of an increase in labor productivity on potential GDP, the quantity of labor,…

A: Gross Domestic Product is the total amount of goods and services that an economy can produce within…

Q: In the long run, the most important factor shifting the AS curve is ___________. a. productivity…

A: The total supply of goods and services that firms in a national economy plan to sell during a…

Q: In his 2020 State of the Nation Address (SONA), president of South Africa humbly noted that. "Even…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: a technological advancement in sector “ X” of the economy affect the number of people who work in…

A: Technology advancement create various changes in the labour force. Sometimes it create more job…

Q: In Investment in Human Capital (1962) paper by Gary Becker, what were his key findings and why was…

A: Most people associate capital with a bank account, a hundred shares of IBM stock, assembly lines,…

Q: Botswana   Honduras   Malaysia   Zambia

A: The rate of growth in real income per person from 1960 to 2010 is measured as below Rate of growth…

Q: India's Economy Hits the Wall Just six months ago, India was looking good. Annual growth was 9%,…

A: (Only the first question has been answered).    Here, the news clip presents that the economic…

Q: A small county wants to increase its real GDP from $18,000 to $36,000. If they want this to happen…

A: If annual average growth rate is g, then Initial GDP x (1 + g)N = New GDP

Q: To improve problems with the economy, the government must reduce regulations and legal requirements…

A: LIBERALS are those who believe in governmental action for the achievement of equal opportunity and…

Q: What cause GDP per capita to be low compare to its GDP

A: The GDP is the sum of the final value of the domestic value of goods and services which are produced…

Q: In 1980, Denmark had a GDP of $70 billion (measured in U.S. dollars) and a population of 5.1…

A: INTRODUCTION The per capita GDP level is a concept which measures the share of each individual in…

Q: Explain why a fall in economic growth could lead to a rise in unemployment. Use a diagram to support…

A: Economic growth: It is the measure of the rise in the production of goods and services over a…

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: How can you explain that the per capita GDP has been almost multiplied by three in WE from 1820 to…

A: In the beginning of 1820 Ottoman empire was scarce in labour and capital but it had ample amount of…

Q: During the course of the twentieth century, the average workweek in the United States has gotten…

A: The total monetary or market value of all finished goods and services produced within a country's…

Q: country of Azard, businesses use new smart cell phones to speed up many tasks such as sales…

A: Cell phones are an indispensable piece of business hardware for some entrepreneurs and their staff.…

Q: Labor Productivity) Identify at least four definable periods of labor productivity growth beginning…

A: The five perceptible times of work profitability development in us starting just after war II are as…

Q: Identify a three public policies that can stipulate employment and facilitate economic

A: Government policies can lead to rise in the growth rate and employment. The monetary and fiscal…