The countries with the highest mean incomes are also the countries with the highest O savings to income ratios O capital to labor ratios capital to savings ratios O labor to capital ratios
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- The primary reason that living standards in some countries are higher today than they were a century ago is that O a. Human capital has increased O b. physical capital per worker has increased O c. more productive natural resources have been discovered Od. technological knowledge has increasedSuppose that the share of population employed in Country B is 60 percent, and that Countries B and D have the same real GDP per capita. Based on the information in the table, what share of Country D's population must be employed? Country Population (millions) Average Labor Productivity ($) 2,000 A B с O E Select one: a. 24 percent O b. 12 percent O c. 8.3 percent O d. 83.3 percent 100 150 75 250 95 10,000 25,000 50,000 60,000Give the three reasons that explain why the division of labor increases an economys level of production.
- What determines output per worker in the One Country Technblogy Model? O Output is produced by all workers. O Output per worker depends on education and capital, even though it is not specified in the model. O Output per worker depends on the productivity of the country and the fraction of workers producing output. O Output per worker depends only on productivity of the average worker.QUESTION 4 Capital per year K₂ Figure 7.3.2 4₂ L₂ C₁ Labor per year Refer to Figure 7.3.2 above. Which of the following changes, which causes the move from A to B? O a. The quantity to be produced Ob. A decrease in the cost of capital r Oc. The budget of the producer d. A decrease in the wage rate wFrance and Poland each have one worker whosemonthly linear Production PossibilityFrontier indicatesthe following production possibilities: PolandFranceComputers (C) 246Grain (G) 43 a)France’sopportunity cost of G in terms of units of C equals ______ ? b) Poland’sopportunity cost of G in terms of units of C equals ______ ?For the followingparts, please complete the questions by filling in the blank, and responding toremainderof the question: c) Poland’scomparative advantage is in ______ because: d) If France and Poland decide to trade, _________ will be theexporter of G while ______ will bethe importer because: e) If the economies choose to trade, the world relative priceof goods must be ________ in orderfor trade to be mutually beneficial, because:
- France and Poland each have one worker whosemonthly linear Production PossibilityFrontier indicatesthe following production possibilities: PolandFranceComputers (C) 246Grain (G) 43 a) France’sopportunity cost of G in terms of units of C equals ______ ? b) Poland’sopportunity cost of G in terms of units of C equals ______ ?For the followingparts, please complete the questions by filling in the blank, and responding toremainderof the question: c) Poland’scomparative advantage is in ______ because: d) If France and Poland decide to trade, _________ will be theexporter of G while ______ will bethe importer because: e) If the economies choose to trade, the world relative priceof goods must be ________ in orderfor trade to be mutually beneficial, because: 4.In the following problem, assume that the UK currency is the pound sterling (PST)and thecurrency in the restof the Europe is the euro (EUR). Suppose that thePST appreciates relative to the EUR. For the following parts, you will…You just got a job in Washington, D.C. You moveinto an apartment with some acquaintances. All yourroommates, however, are slackers and do not clean upafter themselves. You, on the other hand, can clean fasterthan each of them. You determine that you are 70%faster at dishes and 10% faster with vacuuming. All ofthese tasks have to be done daily. Which jobs shouldyou assign to your roommates to get the most free timeoverall? Assume you have the same number of hours todevote to cleaning. Now, since you are faster, you seemto get done quicker than your roommate. What sortsof problems may this create? Can you imagine a traderelated analogy to this problem?What is meant by the term humancapital? Those who must continually learn and use theoretical and analytical knowledge in their work. O b. The ideas and effort that are put into the production process by individuals. O c. The total number of people employed by a firm. O d. The quantity of labour employed through employment agencies. The accumulation of all skills and knowledge acquired by individuals.
- In a mixed-market economy a restaurant decides to stop selling burgers. This is an example of O Normative Analysis O Active but Limited Government O Freedom of Enterprise O Private PropertyThe table below represents the combinations of beet and corn produced on å tract of lahd o given size and fertility Corn (bushels) Beef (kg) 10000 8000 900 6000 1200 4000 1400 2000 1475 1500 Which of the following combination represents unattainable production levels with the current tract of land? Select one: O a. 8000 bushels of corn and 500 kg of beef O b. 6000 bushels of corn and 1300 kg of beef O c. Both 8000 bushels of corn and 1200 kg of beef and 6000 bushels of corn and 1300 kg of beef d. 200 bushels of corn and 1475 kg of beef e. 8000 bushels of corn and 1200 kg of beefwhy is the market for recycled aluminium good and the market for plastic bad in the US? Depict this with a firm input choice model. I understand that recycled plastic decreases in qualiy everytime it is recycled while aluminium does not and can be recylced without the decrease in quality, but I dont know how to depict this graphically
