Rate of economic growth, Suppose that work hours in New

Rate of economic growth

Assignment Help Business Economics

Reference no: EM13887872

Suppose that work hours in New Zombie are 200 in year 1 and productivity is $16 per hour worked.

What is New Zombie’s real GDP? $

If work hours increase to 210 in year 2 and productivity rises to $18 per hour, what is New Zombie’s rate of economic growth?

Instructions: Round your answer to two decimal places.

Rate of growth = %

Reference no: EM13887872

Questions Cloud

Why do governments often restrict immigration to areas : How might government policy respond to the redistributive impacts that immigration brings about? Why do governments often restrict immigration to areas where there is a shortage of skilled workers?

What type of workers have computers displaced : What type of workers have computers displaced and why have they increased the de- mand for skilled labor? Will skilled labor and computers always be complements in produc- tion?

Definitions- what is considered drugs or alcohol : You recall that alcohol and drug abuse are both considered disabilities under the Americans with Disabilities Act (ADA). Draft a policy that outlines how Centurion Healthcare will address this problem. In your policy, address the following- Scop..

Impose restrictions on international capital flows : Many economies impose restrictions on international capital flows, assuming that such restrictions limit the scope for arbitrage between domestic and foreign bonds, thereby effectively making such bonds poorer substitutes for each other, explain how ..

Rate of economic growth : Suppose that work hours in New Zombie are 200 in year 1 and productivity is $16 per hour worked. What is New Zombie’s real GDP? $. If work hours increase to 210 in year 2 and productivity rises to $18 per hour, what is New Zombie’s rate of economic g..

Behavior consistent with the model of maximizing behavior : When prices are (p1, p2) = (1, 2) a consumer demands (x1, x2) = (1, 2), and when prices are (p1, p2) = (2, 1) the consumer demands (x1, x2) = (2, 1). Is this behavior consistent with the model of maximizing behavior?

We expect positive supply shock to do to the real wage : What would we expect a positive supply shock to do to the real wage? Employment? Explain. The rate of growth in Canada's real GDP is expected to be only 2% next year. What do you predict will happen to the unemployment rate? Explain.

Debate between international dependence-neoclassical counter : Why is the debate between the international dependence and the neoclassical counter-revolution schools referred to as “finger pointing?”

Define natural rate of unemployment-cyclical unemployment : Define the natural rate of unemployment and cyclical unemployment. How does the government measure the economy’s rate of unemployment? What problems arise in interpreting unemployment data?

User Account

All Pages