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Regardless of the level of labor productivity, what impact does slow growth in labor productivity have on the economy's standard of living?
Explain how technological change can lead to unemployment in certain industries. How can it increase employment?
How does output per capita in the United States compare with output per capita in other major industrial economies? How has this comparison changed over time?
How has increased use of computers affected U.S. productivity in recent years? Is the contribution of computers expected to increase or decrease in near future?
Technology and Productivity- What measures can government take to promote the development of practical technologies?
Explain how output per capita can grow faster than labor productivity. Is it possible for labor productivity to grow faster than output per capita?
Slowdown in Labor Productivity Growth What slowed the rate of growth in labor productivity during the 1974-1982 period?
How can each type be illustrated with a per-worker production function? What determines the slope of the per-worker production function?
However, many richer economies have little land or land of poor quality. How can a country with little land or unproductive land become rich?
What is the trend? Is there any information about the causes of and solutions to unemployment in that country?
Read the article What Currency Crisis? At the time of publication of the article, what was the price in Zimbabwean dollars of a loaf of bread?
Real GDP Demanded In your own words, explain the logic of the income-expenditure model. What determines the amount of real GDP demanded?
In the model developed in this chapter, which components vary with changes in the level of real GDP? What determine the slope of the aggregate expenditure line?
Choose one article from past two years. Does it describe growing or shrinking investment in an economy? How will that investment trend affect economic growth?
Read the article Crisis? What Crisis? What is the possible upside to decreases in Japanese consumption spending?
Consumption and Saving Suppose that consumption equals $500 billion when disposable income is $0. Draw a graph of the saving function using this information.
If the MPC increases, what must happen to the MPS? How is the MPC related to the consumption function? How is the MPS related to the saving function?
What factors are assumed constant along the net export function? What would be the impact on net exports of a change in real disposable income?
Government Spending How do changes in disposable income affect government purchases and the government purchase function?
This chapter assumes that investment is autonomous. What would happen to the size of the multiplier if investment increases as real GDP increases?
What is the value of the multiplier? Explain why the multiplier is related to the slope of the consumption function.
By how much would MPC have to increase government purchases to achieve this goal?
How does the multiplier interact with the price change to determine the new real GDP demanded?
When Output and Spending Differ What role do inventories play in determining real GDP demanded?
What equalities hold at the level of real GDP demanded? When determining real GDP demanded, what do we assume about the price level?