Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Chapter 24, Problem 9SPPA
To determine
To find:
The economy that has greater potential GDP, has higher real wage rate and has the higher natural
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This year, if two million new babies were born in the U.S. and if two million more immigrants came to the U.S., then the Annual Real GDP Per Capita will go down if we assume no change in the real GDP figure between this year and last year.
Marketopia's real GDP was $520 billion in 2014 and $550 billion in 2015. Its
population was 150 million in 2014 and 155 million in 2015. On the other hand,
Econland's real GDP was $200 billion in 2014 and $210 billion in 2015; and its
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statements is true?
A) Marketopia's and Econland's GDP per capita both decreased from 2014 to
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B) Marketopia's GDP per capita increased from 2014 to 2015, while Econland's
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D)
Econland's GDP per capita increased from 2014 to 2015, while Marketopia's
decreased.
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.
Chapter 24 Solutions
Foundations of Economics (8th Edition)
Ch. 24 - Prob. 1SPPACh. 24 - Prob. 2SPPACh. 24 - Prob. 3SPPACh. 24 - Prob. 4SPPACh. 24 - Prob. 5SPPACh. 24 - Prob. 6SPPACh. 24 - Prob. 7SPPACh. 24 - Prob. 8SPPACh. 24 - Prob. 9SPPACh. 24 - Prob. 10SPPA
Ch. 24 - Prob. 11SPPACh. 24 - Prob. 1IAPACh. 24 - Prob. 2IAPACh. 24 - Prob. 3IAPACh. 24 - Prob. 4IAPACh. 24 - Prob. 5IAPACh. 24 - Prob. 6IAPACh. 24 - Prob. 7IAPACh. 24 - Prob. 8IAPACh. 24 - Prob. 9IAPACh. 24 - Prob. 1MCQCh. 24 - Prob. 2MCQCh. 24 - Prob. 3MCQCh. 24 - Prob. 4MCQCh. 24 - Prob. 5MCQCh. 24 - Prob. 6MCQCh. 24 - Prob. 7MCQCh. 24 - Prob. 8MCQ
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