Which of the following is NOT a reason that people and firms can increase productivity by focusing on one specific activity?

In The Wealth of Nations (1776), Adam Smith wrote, “The most decisive mark of the prosperity of any country is the increase in the number of its inhabitants.” How would Smith’s view have to be revised today? How would you explain the change to Smith?

What is a labor abundant economy? A higher level of capital per worker No labor input in the production system Production that require a high level of capital Production that requires a low level of capital

What are the main things believe every manager needs to know about microeconomics? Briefly   for managerial economics class

Based on article "Technology and economic growth: From Robert Solow to Paul Romer" by Rui Zhao, Romer has successfully opened the black box and explained how technology can be produced by an economy without having to rely on external (exogenous) technology. Using the central equations of the Romer’s model, technology (At) can grow to At + 1 due to efforts in R&D and technology spillover. Explain the role of three key sectors in the economy to drive technological-based economic growth.