For each of the following, identify which inputs into the production function changed (i.e., Physical Capital, Human Capital, or Labor). Also identify whether this phenomenon will increase or decrease economic growth. (a) The government increases federal aid for students to go to college. (b) States embark on a program to increase charging networks for electric cars. (c) A big chunk of the population decides to drop out of the workforce to spend more time playing video games.
Q: Interest rate 2% 4 6 8 10 Transaction demand for money $220 220 220 220 220 Asset demand for money…
A: Demand for money shows how much money people are willing to hold to buy goods and services.
Q: In Question 5 (and potentially in Question 6), your analysis considered a price ceiling at a price…
A: Demand is a consumer-side concept. It shows the behavior of the consumers in terms of the quantity…
Q: In a rich country A, the gross domestic product 1 per person is r = 53,000 (US dollars). In a poor…
A: GDP refers to the value of final services and goods that are produced in an economy at a particular…
Q: By using Michael Porter’s five forces model, evaluate any industry of your choice.please provide…
A: According to the Micheal Porter's five for es model there are five significant forces that determine…
Q: Suppose the market supply curve is given by: Q=2P-4 and market demand by: 21-1. a) What is the value…
A: Given Supply equation: Q=2P-4 ......(1) Market demand equation: Q=9P-1 ......(2) The…
Q: What is fiscal policy? Distinguish between a discretionary fiscal policy and a non- discretionary…
A: Fiscal policy is characterized as the strategy under which the public authority utilizes the…
Q: Anita bought a new scooter for $500. She is deciding whether she should insure her scooter against…
A: Price of the new scooter=$500 1 out of the 10 scooters is stolen So the probability of…
Q: 1. Consider a team with n individuals, n > 2. Each individual must choose whether to put in effort…
A: Team size: n>2 Two choices - Effort (e) or shirk (s) Cost of effort = ce No cost for shirk…
Q: Steven has non-labor income each week of $500. He can work up to 100 hours per week for an hourly…
A: Reservation wage is the wage at which an employee is indifferent between not working or working. It…
Q: MBC Limited is planning to embark on a new project in the heart of Cape Town. The project will…
A: a) Initial investment = $1250000 Years Cash flow…
Q: AS- Determine the value of d 0-5D N. 2 D D 4 -se 4 200 300 i = 8% S 400
A: In a cash flow diagram the arrows pointing up refers to positive cash flows (i.e. receipts) while…
Q: 11. Fresh Veggie is one of many small farms in Florida operating in a perfectly competitive market.…
A: Marginal product of labor is the increase in output fron increasing one more unit of the good.
Q: Question 12 The quantity of real GDP supplied at full employment is called (A) short-run equilibrium…
A: Employment is a type of economic activity in which one individual is appointed by another to do a…
Q: Which of the following best defines full insurance? (a) Number of dollars of accident insurance…
A: Insurance is the claim that an individual receives in case of any unfortunate loss to the assets.…
Q: Which of the following alternatives is typical in a monopolistic market? a.all of before mentioned…
A: The monopolistic market is an imperfectly competitive market where only one firm may offer goods and…
Q: A consulting company estimated market demand and supply in a perfectly competitive industry and…
A: Firms profit = Total revenue - Total cost = (Price x Quantity) - (Total fixed cost + Total variable…
Q: 12. If a monopoly takes over 100% of a market previously operating under perfect * competition, the…
A: Perfectly competitive market is characterized by the presence of many sellers and buyers. The single…
Q: When a long-term operational asset is sold at a gain, how is the balance sheet affected? Is the…
A: As opposed to current assets, which are kept for less than a year, long-term operating assets are…
Q: The Fed's mandated goals are "maximum employment, stable prices, and moderate long-term interest…
A: Introduction The goals of price stability and moderate long-term interest rates go together. So,…
Q: During year three, Pricilla starting collecting data on why people were buying dresses. She and the…
A: Wedding Events Average Monthly Temperature Year 3 Demand 2 1 32 212 0 0 30 245 0 5 42 252…
Q: A (single-price) monopolist is maximizing profits when A. the marginal revenue associated with the…
A: Monopoly is the term used to describe a market system in which there is only one seller on the…
Q: QUESTION 4 Assume that there is an implicit cost. Which of the following must be true? a. Accounting…
A: Explicit Costs are the actual monetary payments that are made in order to conduct business. These…
Q: QUESTION 15 Which of the following professions would we expect to have the highest economic profit?…
A: Answer to the question is as follows:
Q: The TLC Yogurt Company has decided to capitalize on the exercise fad and plans to open an exercise…
A: Net Present Value: It is a measure of profitability used in capital budgeting to determine the…
Q: input prices are w 4, and r ", what is the least cost input combination required to produce 40 units…
A: Production function: q = 4 K0.5 L0.5 Cost function: C = w L + r KC = 4 L + K The cost function is…
Q: 1. Suppose that the demand function is y = −3x + 54. A. What is the highest price a consumer would…
A: Here, demand function is given as: y=-3x+54 Where, y is the price and x is the quantity demanded A…
Q: 12. The figure shows Edwyn’s labor supply curve. Consider a wage increase from $5 to $6. For Edwyn,…
A: Edwyn’s labor supply curve is upward sloping curve for some range of wage and downward sloping for…
Q: The central bank conducts an open market sale of securities at the same time a natural disaster…
A: The central bank of the country controls the money supply. Money demand depends on the interest…
Q: Do you feel the US role as the "guarantor" for the Bretton Woods System was viable? Why or why not?…
A: A payment system based on the dollar was formed at Bretton Woods; this system defined all currencies…
Q: Interest rate 2% 4 6 8 10 Transaction demand for money $220 220 220 220 220 Asset demand for money…
A: Total money demand is a sum of transaction and asset demand for money.
Q: New Zealand dollar drops to lowest value against US dollar since 2020 (27/09/2022) The New Zealand…
A: CPI (Consumer Price Index) is a measure of inflation. It measures the change in prices of a basket…
Q: International economics is theory that helps explain how the real world works. Why is this statement…
A: International economics matters are the field of economic aspects that is worried with the economic…
Q: 1.12 Study the following diagram and answer the question that follows. Expenditures (billions of…
A: Consumption function is consists of autonomous consumption and consumption dependent on Income. C =…
Q: Please, Fill-In the Bordered Hessian Matrix with the Format,
A: A matrix that optimizes the objective function that contains two variables is called Bordered…
Q: 10. Which area shows the welfare loss caused by this business, relative to a firm operating at the…
A: Welfare maximizing output level occurs at the intersection of the MC and demand curve. Hence, the…
Q: During a recession, automatic stabilizers cause the federal deficit to Group of answer choices…
A: Budget is the term used to describe the government's document that details its receipts and outlays.…
Q: Study the table below and answer the question that follows. Carpets Fighter aircraft Afghanistan 100…
A: Opportunity cost is the cost of producing one good in terms of other good. Opportunity cost is used…
Q: f workers accurately predict the rate of inflation, is there a short-run trade-off between inflation…
A: Inflation and unemployment are said to have an inverse connection, according to the Phillips curve.…
Q: Energy markets, such as the market for natural gas and electricity, have been known to be…
A: Given, Energy Markets like market for natural gas and electricity have been known to be…
Q: 3. A manufacturer that produces a computer headset sells 400 units when the unit price is Php1,200.…
A: Here, information about unit price (price) and sales (quantity demanded) of a manufacturer is given…
Q: Question 5 The government increases its purchases of goods and services. As a result, in the…
A: Equilibrium in the economy occurs at the intersection of aggregate demand (AD) and aggregate supply…
Q: Landia production possibilities: Fish Chips B с Fish 8 6 Chips 0 10 Scandia production…
A: Comparative advantage is the ability of the country or individual to produce the good at a lower…
Q: A mining company is considering three alternatives for use as a debris hauler out of one of the…
A: The difference between the present value of cash inflows and outflows over a period of time is known…
Q: 5. The demand and supply functions of a computer accessory are D(x) = 4.5 - 2.5x and S(x) 0.0375…
A:
Q: ESS and the R-squared
A: TSS is referred to as the total sum of squares. ESS is referred to as the explained sum of squares.…
Q: nge in inventories. an unplanned
A: In Aggregate Expenditure model, if Real output is less than planned aggregate expenditure then there…
Q: Price adjust until quantity demanded equals quantity supplied.
A: Competitive market- It refers to to a market where many buyers and sellers meet and they have…
Q: On March 25, you borrow some money for 120 days. What is the maturity date?
A: Remaining Number of Days in March - (31-25) = 6 Number of Days in April - 30 Number of Days in May…
Q: In both price-taker and competitive price-searcher markets, a decrease in market demand will lead…
A: A price taker firm belong to perfect competition and price searcher competitive firm belongs to…
Q: Annual maintenance cost for a machine is ₱25,000 for 6 years. Interest rate is 6%. If the…
A: Given Annual maintenance (A1 )=25000 Rate of interest =6% The maintenance cost increase by 10% each…
For each of the following, identify which inputs into the production function changed
(i.e., Physical Capital, Human Capital, or Labor). Also identify whether this phenomenon will increase or decrease
(a) The government increases federal aid for students to go to college.
(b) States embark on a program to increase charging networks for electric cars.
(c) A big chunk of the population decides to drop out of the workforce to spend more
time playing video games.
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
- Q) The economist of country A is considering the following list of policies. For each of the following policies, determine which factor of growth that the policy is related to((1) natural resources; (2) physical capital; (3) human capital; (4) technology; or(5) institutions): a) Government allows more workers to immigrate b) Government relaxes the regulations for firms to borrow c) Government lends money to farmers to buy machines. d) Government plants more trees to protect the environment. e)Government encourages citizens to vote Solve this earlyQuestion 4 Classify each of the following as a movement along or a shift of the production function and provide a justification for your choice. (i) An increase in the number of machines used in production (ii) An increase in the population growth rate (iii) A new technological innovation (iv) The government invests in a new entrepreneurship training program (v) The government implements major reforms to make it easier to transact businessWhich of the following did not result in economic growth? Group of answer choices Installing a network of irrigation ditches and pumping stations in order to grow fruits and vegetables in parts of southern California. Many citizens emigrating from Zimbabwe when a politically repressive regime took office. The invention of a threshing machine for harvesting grains. Increased government funding of post-secondary education.
- What would be the effect of each of the following events on actual and potential economic growth? (Assume no other changes take place.) d) Increased expenditure on education and training. Actual growth: rise / fall / no effect Potential growth: rise / fall / no effect (e) The discovery of new, more efficient techniques which could benefit industry generally. Actual growth: rise / fall / no effect Potential growth: rise / fall / no effect (f) A reduction in interest rates. Actual growth: rise / fall / no effect…What would be the effect of each of the following events on actual and potential economic growth? (Assume no other changes take place.) (a) A reduction in the level of investment. Actual growth: rise / fall / no effect Potential growth: rise / fall / no effect (b) People save a larger proportion of their income. Actual growth: rise / fall / no effect Potential growth: rise / fall / no effect (c) A reduction in the working week. Actual growth: rise / fall / no effect Potential growth: rise / fall / no effect (d) Increased expenditure on education and training.…Which of the following is unlikely to affect the rate of economic growth? Group of answer choices technological change the level of government spending the quality of available resources the quantity of available resources Which of the government policies below is most unlikely to encourage per capita economic growth? Group of answer choices the use of tax revenues for investment and capital formation promotion of education and training programs for workers high taxes on companies that spend a lot on capital formation special subsidies for capital-intensive forms of production Which of the following did not result in economic growth? Group of answer choices Installing a network of irrigation ditches and pumping stations in order to grow fruits and vegetables in parts of southern California. Many citizens emigrating from Zimbabwe when a politically repressive regime took office. The invention of a threshing machine for harvesting grains. Increased government…
- Supply factors are those that cause an expansion in the production capacity, also called the potential output of the economy.List any three supply factors of economic growth.1.Many countries, including Pakistan, import substantial amounts of goods and services from other countries. However, economists claim that a country can enjoy a high standard of living only if it can produce a large quantity of goods and services itself. Can you reconcile these two facts? (Maximum 100 words). 2.Given the production function Y= AF (L, K, H, N), explain the determinants of productivity. ( Maximum100 words). 3.Population growth has a variety of effects on productivity. Explain this statement and justify your answer. (Maximum 200 words).In 2000, a small nation has real GDP of $20,000 and a population of 150. By 2010, real GDP has grown to $30,000, and improved nutrition has allowed the population to increase to 220. Which statement must be true for this nation? In another 10 years, there will not be enough capital equipment for workers to use. Per capita GDP is higher in 2010 than it was in 2000. The high rate of population growth has caused real GDP per capita to fall. The productivity of labor in this nation has remained constant. As the nation's leading expert in economics, you have been asked to present a series of economic policies you believe would be helpful to the nation. Because of budget constraints, the legislature also wants you to rank your suggestions. Which suggestion would be last on your list of policy proposals? research and development funding strict population control measures improvement of the educational system reduction of trade barriers
- Which of the following causes sustained economic growth? Diminishing returns Increases in productivity Increases in the population Natural resource endowmentsSince the late 1950s, economists have performed “growthaccounting†studies in the United States.These have determined that ________________ is typically the mostimportant contributor to U.S. economic growth. a)physical capital b)human capital c)technology d)a market orientationExplain why a fall in economic growth could lead to a rise in unemployment. Use a diagram to support your answer.