EBK INTERMEDIATE MICROECONOMICS AND ITS
12th Edition
ISBN: 9781305176386
Author: Snyder
Publisher: YUZU
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Question
Chapter 6.7, Problem 2MQ
To determine
To comment on the given historical changes in labor productivity.
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Students have asked these similar questions
Which of the following statements about labour productivity (Y/L), also known as the average product of labour are
correct?
Select one or more:
a. A rise in labour productivity must imply job losses
b. If Y is fixed A rise in labour productivity must imply job losses
c. With a standard production function, if L falls, without any change in technology or capital intensity, labour
productivity must rise
d. A rise in labour productivity at the same time as a rise in employment is logically impossible
Which of the following statements about labour productivity (Y/L), also known as the average product of labour are correct?
Select one or more:
a.
With a standard production function, if L falls, without any change in technology or capital, labour productivity must rise
b.
A rise in labour productivity at the same time as a rise in employment is logically impossible
c.
A rise in labour productivity must imply job losses
d.
If Y is fixed a rise in labour productivity must imply job losses
Which of the following would not affect labor productivity, i.e. more output per unit of labor hour?
Select one:
a. When interest rates decrease and government spending increase.
b. when labor is reallocated from less-efficient industries to more-efficient industries.
c. when production is better organized and managed
d. technological progress
e. the health, training, education, and motivation of workers improve
f. the quantity of capital goods available to workers
Chapter 6 Solutions
EBK INTERMEDIATE MICROECONOMICS AND ITS
Ch. 6.2 - Prob. 1TTACh. 6.2 - Prob. 2TTACh. 6.2 - Prob. 1MQCh. 6.2 - Prob. 2MQCh. 6.3 - Prob. 1TTACh. 6.3 - Prob. 2TTACh. 6.3 - Prob. 1MQCh. 6.3 - Prob. 2MQCh. 6.4 - Prob. 1TTACh. 6.4 - Prob. 2TTA
Ch. 6.5 - Prob. 1MQCh. 6.5 - Prob. 2MQCh. 6.5 - Prob. 3MQCh. 6.6 - Prob. 1TTACh. 6.6 - Prob. 2TTACh. 6.7 - Prob. 1MQCh. 6.7 - Prob. 2MQCh. 6.7 - Prob. 3MQCh. 6.7 - Prob. 4MQCh. 6 - Prob. 1RQCh. 6 - Prob. 2RQCh. 6 - Prob. 3RQCh. 6 - Prob. 4RQCh. 6 - Prob. 5RQCh. 6 - Prob. 6RQCh. 6 - Prob. 7RQCh. 6 - Prob. 8RQCh. 6 - Prob. 9RQCh. 6 - Prob. 10RQCh. 6 - Prob. 6.1PCh. 6 - Prob. 6.2PCh. 6 - Prob. 6.3PCh. 6 - Prob. 6.4PCh. 6 - Prob. 6.5PCh. 6 - Prob. 6.6PCh. 6 - Prob. 6.7PCh. 6 - Prob. 6.8PCh. 6 - Prob. 6.9PCh. 6 - Prob. 6.10P
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Similar questions
- Why don’t wages measure the full return to labor? Why is human capital the most important factor of production in a modern economy?arrow_forwardWhich of the following would increase labor productivity? a decrease in amount of capital per unit of labor technological advance a decrease in the unemployment rate an increase in the number of inexperienced workers entering the labor forcearrow_forwardClassify each of the following as a movement along or a shift of the production function and provide a justification for your choice. (1)An increase in the number of machines used in production (2) An increase in the population growth rate (3) A new technological innovationarrow_forward
- Why 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_forwardConsider a hypothetical small island nation in which the only industry is weaving. The following table displays information about the economy over a two year period. Complete the table by calculating physical capital per worker as well as labor productivity. Hint: Recall that productivity is defined as the amount of goods and services a worker can produce per hour. In this problem, measure productivity as the quantity of goods per hour of labor. Physical Capital (Looms) 120 Year 2037 2038 400 Labor Force (Workers) 60 100 Based on your calculations, productivity from 2037 to 2038. Physical Capital per Worker (Looms) Labor Hours Imposing a tax on looms (Hours) 3,000 3,500 Suppose you're in charge of establishing economic policy for this small island country. Output (Tapestries) 21,000 49,000 in physical capital per worker from 2037 to 2038 is associated with Which of the following policies would lead to greater productivity in the weaving industry? Check all that apply. Imposing…arrow_forwardSuppose we measure labor productivity by the amount of output (horizontal axis) per unit pf physical capital per worker (vertical axis) when everything else is constant. A more effective training program is provided to all workers. With all else equal, what change can we expect on the labor productivity plot? a. An upward movement along the labor productivity curve. b. A downward movement along the labor productivity curve. c. An upward shift of the labor productivity curve. d. A downward shift of the labor productivity curve. e. The labor productivity curve will remain unchanged.arrow_forward
- What are the effects of an increase in labor productivity on potential GDP, the quantity of labor, the real wage rate, and potential GDP per hour of labor?arrow_forwardConsider a hypothetical small island nation in which the only industry is cloud computing. The following table displays information about the economy over a two year period. Complete the table by calculating physical capital per worker as well as labor productivity. Hint: Recall that productivity is defined as the amount of goods and services a worker can produce per hour. In this problem, measure productivity as the quantity of goods per hour of labor. Physical Capital (Servers) Labor Force (Workers) Physical Capital per Worker (Servers) Labor Hours (Hours) Year Output (TB of data storage) Labor Productivity (TB of data storage per hour of labor) 2042 400 100 2043 240 120 4,000 7,800 31,200 32,000 Based on your calculations, productivity from 2042 to 2043. in physical capital per worker from 2042 to 2043 is associated with Suppose you're in charge of establishing economic policy for this small island country. Which of the following policies would lead to greater productivity in the…arrow_forwardClassify each of the following as a movement along or a shift of the production function and provide a justification for your choice. An increase in the number of machines used in production, an increase in the population growth rate, a new technological innovation,the government invests in a new entrepreneurship training program, the government implements major reforms to make it easier to transact businessarrow_forward
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