Productivity of Quantity of Labor Year Labor 2,000 2,000 $200 210 3 2,000 210 The table shows the quantity of labor (measured in hours) and the productivity of labor (measured In real GDP per hour) In a hypothetical economy in three different years. Between Year 1 and Year 2, real GDP Increased by Multiple Choice 1.5 percent. 2.5 percent. 5.0 percent. 6.0 percent.

Productivity of Quantity of Labor Year Labor 2,000 2,000 $200 210 3 2,000 210 The table shows the quantity of labor (measured in hours) and the productivity of labor (measured In real GDP per hour) In a hypothetical economy in three different years. Between Year 1 and Year 2, real GDP Increased by Multiple Choice 1.5 percent. 2.5 percent. 5.0 percent. 6.0 percent.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 34P: Say that the average worker in Canada has a productivity level of 30 per hour while the average...

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Say that the average worker in the U.S. economy is eight times as productive as an average worker in Mexico. If the productivity of U.S. workers grows at 2 for 25 years and the productivity of Mexicos workers grows at 6 for 25 years, which country will have higher worker productivity at that point?
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What were the sources of labor productivity growth in the U.S. economy during the sixty years since 1960? How did the 1960s differ from the more recent decades? During the sixty years since 1960, the sources of labor productivity growth include O A. plastics, the laser, and the computer during the 1960s, and the Internet during later years O B. the focus on saving energy during the 1970s O C. the wide-spread introduction of the Internet during the 1970s O D. the global financial turmoil of 2008-2009 that made labor more productive Comparing the 1960s to the more recent decades, labor productivity growth than in subsequent decades. O A. in the 1960s was approximately 25 percent higher O B. in the 1960s was smaller C. due to technological change was smaller in the 1960s O D. due to physical capital and human capital growth was greater in the 1960s Click to select your answer. MacBook A
worn out in the production process. ment Now IzMe: Section 2.7 uge your comprehension of this section. To begin, please click the wnward arrow located at the top right of this box. Assignment Score: 0.00% Submit Assignment for Grading Save ns tu2et10h_Ch02_Sec07.02m « Question 2 of 3 » Check My Work Three different economies have made choices about the production of capital goods. Which of the following is most likely to produce the greatest growth in the production possibilities curve (PPC)? O a. Less production of capital goods than what is needed to replace worn-out capital. Ob. Capital goods produced at the exact rate needed to replace worn-out capital. c. More production of consumption goods that replace worn-out capital. O d. Greater production of capital goods than what is needed to replace worn-out capital. MacBook Air DD F6 EZ F8 F9 F10 F11 F12 & * 6 7 8 { P + 000
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Republika UPLB has 50 workers. It produces only coffee and white cheese. The production of these two goods has the following labor requirements. Coffee Output 60 56 48 36 20 0 Labor Requirements 50 40 30 20 10 0 White Cheese Output 0 2 4 6 8 10 Labor Requirements 0 10 20 30 40 50 If Republika UPLB is producing 48 units of coffee and 2 units of white cheese, is it using its inputs efficiently?
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