Q: In Chapter 11, Tietenberg and Lewis note that market imperfections are a major cause of…
A: Meaning of Market Failure: The term market failure refers to the situation under which there…
Q: What correlation lies between productivity and the standard of living?
A: The amount of goods and services produced by the average worker in an hour of work is referred to as…
Q: explain economic in 19th century
A: At the starting of the 19th-century classical economics is dominated. this theory concerned itself…
Q: Why does agriculture need technological progress?
A: In any economy, primary economic sector is an agriculture sector as it is necessity for an economy.
Q: Technology may have a macro- and micro-level effect on economic growth.What types of technologies…
A: For economists, technology is something that allows us to create things more quickly, better, or for…
Q: List and describe determinants of productivity.
A: In economic terms, productivity refers to the total output produced per unit of input, this input…
Q: Why is productivity important for the economy?
A: Productivity refers to the ratio of quantity of output to quantity of inputs. It describes how…
Q: How does the role of government influence economic growth? As the size of government increases as a…
A: The role of the government in the economy tends to address business failures or conditions where the…
Q: What is productivity? Describe the factors of productivity.
A: Productivity is the ratio of output to input which are used in the process of production. It is the…
Q: Per capita GDP in the long run: Suppose an economy begins in steady state.By what proportion does…
A: Meaning of Per-Capita GDP: A country’s GDP or gross domestic product is calculated by taking into…
Q: of computers
A: The knowledge economy is a system of production and consumption which is based upon intellectual…
Q: How can Theory of Economic Development promote businesses to perform better?
A: Economic development: It refers to the strategies that deal with the development process of the…
Q: what intermediate microecomics about
A: Economics: It is related to the production, consumption, and transfer of wealth.
Q: The ability of an economy to produce greaterlevels of output per time period is calleda. positive…
A: Positive Economics is the one which is based on facts and values. Normative Economics is the one…
Q: Why are people called as the real products of development?
A: Economic growth is a notion that reflects on the aggregate economic aspect of a specific nation and…
Q: True or false? If false, explain why.a. Technological advance, which to date has played a relatively…
A: a. Technological progress is the main factor that helped the US economy to grow and develop faster…
Q: What are output per worker, capital per worker, steady-state capital per effective worker and…
A: A worker is a person who participates in productive activities that contribute to the economy's flow…
Q: What is the growth rate of output per person in this economy?
A: To find the growth rate of output per person, we need to first find the growth rate of output and…
Q: Why is the economy a significant driver of development? How does this happen?
A: The economy consists of the combination of all the activities that take place in a country, for…
Q: Does global business bring about growth or regression?
A: Yes, the global business brings about the growth or recession both because of the globalization…
Q: What is the implication of economic growth for our economy , society and environment?
A: Economic growth occurs when the production of goods and services in the economy rises. It can be…
Q: List and describe four determinants of productivity
A: Productivity is a measure of the efficiency of a firm . It is the ratio of the total volume of…
Q: What does productivity growth has to do with economics?
A: One of the key sources of economic growth and competitiveness is the term called Productivity due to…
Q: Do you feel that overall technology positively or negatively impacts the economy? Cite two…
A: Production function of a firm shows the technical relationship between output produced and inputs…
Q: What impact does economic growth have on the cost of living?
A: Economic growth generally refers to an increase in the production of goods and services from one…
Q: What does machination of progress?
A: Globalization and technological progress are referred to as "machinations of progress." The…
Q: Why is the number of people moving to cities in LDCS greater than the number of people moving to…
A: LDC stands for less developed countries and MDC stands for more developed countries.
Q: Why is scientific literacy is important? Answer can be related to decision-making, economic…
A: There is a type of government which is known as communist type of government. In this type of…
Q: How fast is the per capita real GDP growing for india?
A: The per capita real GDP can be calculated by dividing the real GDP by the population.
Q: What impact does technological change have on the economy?
A: Economic growth has three main indicators technological advances, capital accumulation, and increase…
Q: What is the relevance of productive and allocative efficiency to the growth process?
A: Economic efficiency refers to the state in which all the resources are optimally allocated to serve…
Q: What is pre Malthusian theory?
A: The Malthusian Theory of Population is based on the exponential growth of population and arithmetic…
Q: What is economic development? Explain its nature and importance.
A: Economic growth can be defined as an increase in output through increase in factors of production…
Q: How does production and growth are related to each other? Compare and contrast. no to plagiarism
A: The production of the goods and services would result in the creation of the final value of the…
Q: How do you think the U.S. economy will change as we move closer to a technology-driven service…
A: U.S economy is allready at a development stage.It is a developed country.It has become master in…
Q: how smart growth is making cities more sustainable.
A: Macroeconomics is a branch of economics which is important for a country. Aggregate demand and…
Q: How is transportation related to the sector theoryof city growth?
A: Meaning of Economic Development: The tereconomic development refers to the situation under which the…
Q: Why people are the real products of economic development?
A: Economic development involves the rise in real per capita output and income. Its central point is to…
Q: WHAT IS THE IMPORTANCE OF ECONOMIC GROWTH?
A: Economic growth indicates that a country's limited resources are being used more efficiently. It is…
Q: Why are many people now living at the highest level of material prosperity in history? Is this level…
A: When talking about material prosperity, it refers to the sustainability in a society in terms of…
Q: What does poor infrastructure mean in economics? Explain thoroughly and provide examples
A: Infrastructure is a critical component of economic development. It increases productivity and…
Q: What is the significant role of Technology in treating the Global Economy during the present time?
A: The key goal of technology, that puts combined tools to facilitate growth, usage, and knowledge…
Q: Why do poorer societies have higher population growth rates than wealthier societies? How does…
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: why Gross domestic savings (% of GDP) impact to Secondary education in a country ?
A: The savings of households, private corporations, and the government make up Gross Domestic Savings.…
Q: In which economy is GDP per capita higher in steady state? Economy A Economy B O Not enough…
A: The Solow Model of economic growth or the neo classical model of growth This model is also known as…
Does improvent in technologies cause higher real wages and lower
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