Explain theory nd prediction of standford economic historian

Reference no: EM13212586

Assuming that the levels of human capital and technology are constant, each 1% rise in physical per worker raises output per worker by 0.33% Suppose that physical capital per worker rises by 1.5% in a given year. Which one of the following best reflects the resulting change in output per worker for that year? 1. 0.05% 2.4.55% 3. 1.17% 4. 0.50% Approxiamtely _____ [(1) 53% (2)47% (3)33%] of the increase in American labor productivity over 198 to 2007 can be explained by technological progress. the english economist thomas malthus made an incorrect prediction regarding long-run living standards. his error can largely be traced to the fact that the importance of natural resources as a factor in productivity [(1) was far greater historically (2)is greater presently]. which of the following best represents the theory and prediction of standford economic historian Paul David regarding inventions made over 1971 to 1986?

1. these inventions had little impact on productivity growth until innovators changed business methods to take advantage of them in the late 1990s.

2. desktop computers had an immediate impact on productivity growth when they were first widely manufactured.

3. soon after their development, such inventions could easily be adopted for optimal use for business.

4. e-mail had an almost immediate impact on productivity growth upon its invention.

Reference no: EM13212586

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