Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 25, Problem 3MCQ
To determine
To identify:
The options that correctly states the factor that would not increase the labor productivity.
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Countries X and Y have the same amount of labour and the same level of technology, but country X has less capital. Country X's labour productivity will be __________ Y's and its total factor productivity will be __________ Y's.
higher than; lower than
higher than; the same as
the same as; lower
lower than; lower than
lower than; the same as
1. Technological change and labor productivity are positively related
All of the following lead to an increase in productivity except for
a. an increase in physical capital
b. an increase in the size of the labor force
c. an advance in technological knowledge
d. an increase in human capital
Chapter 25 Solutions
Foundations of Economics (8th Edition)
Ch. 25 - Prob. 1SPPACh. 25 - Prob. 2SPPACh. 25 - Prob. 3SPPACh. 25 - Prob. 4SPPACh. 25 - Prob. 5SPPACh. 25 - Prob. 6SPPACh. 25 - Prob. 7SPPACh. 25 - Prob. 8SPPACh. 25 - Prob. 9SPPACh. 25 - Prob. 10SPPA
Ch. 25 - Prob. 11SPPACh. 25 - Prob. 12SPPACh. 25 - Prob. 1IAPACh. 25 - Prob. 2IAPACh. 25 - Prob. 3IAPACh. 25 - Prob. 4IAPACh. 25 - Prob. 5IAPACh. 25 - Prob. 6IAPACh. 25 - Prob. 7IAPACh. 25 - Prob. 8IAPACh. 25 - Prob. 9IAPACh. 25 - Prob. 10IAPACh. 25 - Prob. 1MCQCh. 25 - Prob. 2MCQCh. 25 - Prob. 3MCQCh. 25 - Prob. 4MCQCh. 25 - Prob. 5MCQCh. 25 - Prob. 6MCQCh. 25 - Prob. 7MCQCh. 25 - Prob. 8MCQ
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- For each part below, determine whether the following actions will increase or decrease productivity, and name the component of productivity that each affects. a. The local government builds a new school. b. Teachers in the new school hold classes for young students. c. A manufacturer installs robots on its assembly line. d. A research team designs a more efficient system of irrigation. e. A soda company discovers a new source of underground water that can be used to make its products. f. A professor writes a new and improved economics textbook. g. A large number of people have less access to health care. h. A worker receives on-the-job training to be a mechanic. Impact on productivity (Click to selec (Click to selec (Click to selec (Click to selec (Click to selec (Click to selec (Click to selec (Click to selec ✓ Component of productivity (Click to select) Physical capital Technology Human capital Natural resources (Click to selec (Click to selec (Click to select) (Click to selec (Click…arrow_forwardWhat is the likely effect on a country's labor productivity if there is significant investment in technology and employee training? A. Labor productivity will decrease. B. Labor productivity will remain unchanged. C. Labor productivity will increase. D. Labor productivity will first increase, then decrease over time.arrow_forwardAn increase in labor productivity means businesses will produce more output with the same amount of labor. Explainarrow_forward
- For a given level of technology, the level of labor productivity would increase in all of the following situations except when: A. there is an increase in natural resources per worker B. there is an increase in human capital per worker C. there is an increase in physical capital per worker D. there is an increase in laborarrow_forwardWhy does adding capital to a production function make the economy more productive? What are diminishing returns to capital? How does technology affect productivity and growth?arrow_forward_____ would most likely result in the economic growth of a nation. A. A decrease in the productivity of labor B. A decrease in the supply of labor due to emigration C. A decrease in the stock of physical capital D. An increase in the rate of growth of population E. An increase in the productivity of laborarrow_forward
- 1. Define production. 2. Give the production function. Name & explain each variable. 3. How does each variable in the production function reflect economic prosperity for a nation?arrow_forwardA country's rate of economic growth is important because. A) an economy that grows too slowly is always involved in human rights violations. B) a slowly growing economy always invades its neighboring countries in search of wealth. C) a slowly growing economy experiences very slow growth in population. D) an economy that grows too slowly fails to raise living standards of its citizens.arrow_forwardK The new growth theory argues that A. improvements in technology are not so important in determining economic growth because there are almost no productivity gains left in the economy. O B. for new technology to positively affect economic growth, the benefits from R&D activity must all accrue to the country that performs the R&D. OC. technology must be considered a separate factor of production that is sensitive to economic incentives. OD. economic growth is determined by technology, but growth in technology is unrelated to economic incentives.arrow_forward
- Question 5 Sort the items below according to whether they promote economic growth, inhibit economic growth, or have no effect on economic growth A. The use of competitive markets to allocate goods and services A. Promote economic growth A. The creation of a price floor on sugar B. inhibit economic growth A. Laws preventing industrial espionage C. No effect on economic growth Clear laws regarding the transfer of property A corrupt government The development of regulations that make creating a small business difficult A. B. B. B. A nation's central bank declares it will print money to pay for government expenditures. A Moving to another question will save this response. O D 2: hp 51°Farrow_forward_____ shows roughly how long it will take a nation to double its output at various growth rates. A. The GDP deflator B. The rules of the game C. The production possibilities curve D. A per-worker production function E. The Rule of 70arrow_forwardWhen production in an economy grows more quickly than the population in that economy, which of the following must be occurring? A. Incomes are growing at a slower rate than the population. B. Real GDP is falling. C. Real GDP per capita is constant. D. Real GDP per capita is rising. E. Living standards are falling. QUESTION 18 If immigration laws become more strict and many foreign citizens are not allowed to work and are forced to leave the United States, A. there is a movement down along the aggregate supply curve. B. the potential GDP curve will shift to the right. C. the aggregate demand curve will shift to the left. D. there is a movement up along the aggregate supply curve. E. the potential GDP curve will shift to the lefarrow_forward
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