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A) Suppose that capital per hour of work grows by 3 percent and technology grows by 1 percent over a one year interval. What is the growth rate of real GDP per hour of work? Show the formula and all work.
B) To understand what causes productivity growth, what should an economist focus on, discuss.
q1. elucidate how do the gdp per capitals change after accounting for price indices? explain why is it significant to
As result government increases border patrols to catch illegal shipments. U.S. Customs agents perform DNA testing on the caviar to conclude
Which of the following would NOT increase the supply of money in a fiat money economy?
What are the main differences between microeconomics and macroeconomics? Provide an example of a microeconomic and macroeconomic phenomenon.
Suppose that each country has 100 workers and completely specializes in its comparative advantage. How many units of output of sippy cups and binkys will each country produce?
What is the process by which a recessionary gap closes itself? Explain. Why might this self-correcting mechanism work slowly in the face of a recessionary gap?
Calculate how the hurricane affects the income of each worker and of each remaining orchard owner. What happens to the income of Ectenia as a whole?
If labor costs rise you may consider substituting capital input for labor input. What factors do you need to consider when making this substitution?
Explain how high must the deductible be to encourage low-risk behavior
Suppose that the citizens of Hungary can purchase all the oil they desire at the going international price. If the Hungarian government levies a tax on oil, who bears the burden? Illustrate your answer wit h a supply and demand diagram.
q1. scour the national news media many good sources are available online for a juicy story in which material is at the
Prices the selling monopoly charges for TV sets in periods 1 and 2.
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