Question 9 Which of the following statements is true? 1. If output per head is proportional to the number of ideas had in the past, then a constant rate of growth requires ever rising numbers of new ideas each year. 2. World population growth is a potential source of new ideas. a) Both 1 and 2 b) 1 only c) 2 only d) Neither 1 nor 2

Question 9 Which of the following statements is true? 1. If output per head is proportional to the number of ideas had in the past, then a constant rate of growth requires ever rising numbers of new ideas each year. 2. World population growth is a potential source of new ideas. a) Both 1 and 2 b) 1 only c) 2 only d) Neither 1 nor 2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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56. Which of the following is a cost of economic growth? improvements in technology current saving must be sacrificed to increase investment in capital goods the effect on workers whose skills are made obsolete by technical change reduced interest rates declining future living standards
1. Assume that there are two countries with the following characteristics. Per capita Output Y = A.kª.h¹-a A-technology k-per capita physical capital h-per capita human capital a-0.6 Country A with $500 per capita income saves 25% of its output and invests on physical capital, and 25% on investing in human capital. Country B with $5000 per capita income saves 25% of its output and invests on physical capital, and 35% on investing in human capital. a. What are the growth rates of the two countries? b. What will be the per capita income levels after 5 years? c. Will there be convergence on the per capita income in the future?
If X grows at a rate of 9% a year, and Y grows at a rate of 14 percent per year, what is the growth rate of X/Y? a. 23% b. -5% c. 5% d. (9/14) % A nation’s population is growing 5% per year, and its total GDP is growing 1% per year. What is the annual rate of growth of GDP per capita? Feel free to round to the nearest percentage point:.
While increasing outplut levels have been a benefit of economic growth, what have been some of the challenges associated with the phenomenon of economic growth? Here consider the broad social and environmental implications that stem from economic growth. In your answer draw on relevant evidence and examples.
QUESTION 1 1.1 Entrepreneurial activities may be harmful to economic growth in economies that are passing through the early to middle stage of development as many people would be moving from self-employment to waged employment. Critically discuss this statement on the nexus between entrepreneurship and economic growth as per the literature. 1.2 Using Table 5, discuss the study’s findings for the BRICS countries. 1.3 Given the study’s focus on emerging economies, examine the study’s policy implications for the BRICS countries.
4. You have been hired to forecast future population level for a small country. You know that this country currently has 15 million citizens and wishes to achieve a population level twice the current population, 50 years from now. (a) What population growth rate must it maintain in order to achieve this goal? (b) What if this country chooses a goal of 36 million people? What population growth rate would that require?
Solo growth model questions 1.) a. In a Solow growth model that is expressed in per capita terms, what happens to the marginal product of capital as an economy's capital/labor ratio increases? b. In a Solow growth model that is expressed in per capita terms, when an economy is in its steady state, what do you expect to happen to the capital-labor ratio? c. In a Solow growth model that is expressed in per capita terms, what happens to the capital/labor ratio when the savings rate rises? d.In a Solow growth model that is expressed in per capita terms, what happens to the capital/labor ratio when economywide productivity (this is our "A" variable) rises?
12. According to Solow's model of economic growth, what determines the growth rate of income per person for a nation that is not in its steady state? What determines the growth rate of income per person for a nation that is in its steady state? In what sense is technological progress necessary for sustained growth of income per person in Solow's model?
38. Suppose there are two countries that are identical in every way with the following exception. The saving rate in country A is greater than the saving rate in country B. Given this information, we know that in the long run: a. more information is needed to answer this question b. the growth rate of output per capita will be the same in the two countries c. the growth rate of output per capita will be greater in A than in B d. the growth rate of output per capita will be greater in B than in A QUESTION 39 39. In the long-run steady state, which of the following is affected by an economy's rate of saving? a. output per worker. b. capital per worker. c. the level of investment d. all of the above.
Calculate the indicators for given time series: Absolute growth Growth rate and coefficient Increment rate and coefficient Average level Average absolute growth Average growth rate and coefficient Average increment rate and coefficient Visualise given time series (line or column chart). Please give an interpretation to your results! Number of clients in the shop “X” during the week Average month temperature in Riga, C Month Average degree, C Jan -3,2 Feb -3,7 Mar -0,2 Apr 5,7 May 11,4 Jun 14,8 Jul 17,4 Aug 16,5 Sep 11,7 Oct 6,9 Nov 1,6 Dec -2,0
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