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(Long-Term Productivity Growth) Suppose that two nations start out in 2013 with identical levels of output per work hour-say, $100 per hour. In the first nation, labor productivity grows by 1 percent per year. In the second, it grows by 2 percent per year. Use a calculator or a spreadsheet to determine how much output per hour each nation will be producing 20 years later, assuming that labor productivity growth rates do not change. Then, determine how much each will be producing per hour 100 years later. What do the results tell you about the effects of small differences in productivity growth rates?
The approximate number of years it will take for real GDP per person in Australia to double if the current real GDP growth rate and population growth rate
How do credit cards fit into the money supply? Are they a supply of money or are they a loan which needs to be repaid with interest?
The standard economic model predicts that Laura will offer Sarah ___________ slice(s) and Sarah ___________ accept the offer.
Grocery stores and gasoline stations in a large city would appear to be examples of competitive markets. There are numerous relatively small sellers, each seller is a price - taker , and the products are quite similar. a) How could we argue that t..
What is happening to the value of the U.S. dollar these days? What causes the value of the U.S. dollar to rise or fall? Who demands U.S. dollar? Who supplies U.S. dollar? When we purchase German products, does our demand for euro go up or down? What ..
Draw the initial long run equilibrium using AD-AS diagram. Now suppose a positive supply shock such as a fall in oil price happens.
Select one of the protocols associated with e-mail, such as SMTP, POP, or IMAP. What is the role of this protocol in sending and/or receiving e-mail? What is an example of how a web application might use this protocol?
Suppose the government imposed a tax of $103 on the firm that the firm had to pay even if it went out of business. What would be the profit-maximizing level of output? What would happen to profits? Would the firm stay in business?
Suppose a firm uses 2 inputs to produce one output. Can you derive an optimality condition for conditional factor demand for the first input if the second factor is fixed in the short run How does it look like
Identify the three key facts about short-run economic fluctuations and how the economy in the short run differs from the economy in the long run.
What was the government's initial response to the failing financial markets/firms? Discuss moral hazard and how the government's decision on why certain firms were saved while others were not.
Using the data in the above table, what is the real GDP for year 2005 in billions of constant dollars
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