How technological advance can contribute to economic growth

Assignment Help Business Economics

Reference no: EM13829965

1. Define economic growth, and explain what it means in terms of standards of living.

2. How would an increase in capital goods, holding the size of the labor force constant, help to make workers more productive and increase economic growth?

3. Explain how a technological advance can contribute to economic growth.

4. Why do institutions such as private property rights promote economic growth?

Reference no: EM13829965

Questions Cloud

Use a form of implicit cooperation called price leadership : Some oligopolies use a form of implicit cooperation called price leadership, which is legal in the US. Why do you think these firms try to engage in this practice? And why does price leadership often fail?

What will be the annual payment be : You have borrowed $50,000 at an interest rate of 12%. Equal payments will be made over a three-year period. The first payment will be made at and of the first year. What will be the annual payment be?

Credit card debt and tries to pay : Maggie has $1,000 worth of credit card debt and tries to pay the minimum balance each month. Sometimes she pays a few days late or forgets to pay at all. But she knows that won't affect her credit score because she's just a college student.

Capita real gross domestic product : From 2006 to 2010, per capita real gross domestic product (GDP) in Poland grew an average of 4.71% per year. At that rate, according to the Rule of 70, in roughly how many years will the Polish economy double in size?

How technological advance can contribute to economic growth : Define economic growth, and explain what it means in terms of standards of living. Explain how a technological advance can contribute to economic growth. Why do institutions such as private property rights promote economic growth?

High risk for identity theft : The close quarters of most college dormitories means college students are at a high risk for identity theft.

Illustrate the interaction between different forces : Explain how the six external forces could combine/integrate together to have more complex effects on changes in the workplace. For example, technological changes could accelerate reorganization of work. Give some real examples to illustrate the inter..

Message aligns with the material covered thus far : Discuss a time when you have had to deal with a sensitive and/or a negative message. What would you do differently in light of the material covered in this module? If you would do nothing differently, describe how your handling of the message aligns ..

Liquidity ratios : Liquidity Ratios Current ratio [current assets / current liabilities] Quick ratio [(current assets - inventory) / current liabilities]

User Account

All Pages