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- Which is microeconomics or macroeconomics? a) A comparison of alternative tax policies and thier respective impacts on the rate of the nation's economic growth b) the effect of government regulations on car emissions c) the decision by Mc Donalds to hire fewer workers becuase of an increase in the minimum wage d) the stock market plunges by 1000 points due to uncertaintyEconomics, physical capital represents the uildings or machines used by a business to produce product. The marginal product of physical capital presents the rate of change of output product with spect to physical capital (informally, if you increase e size of your factory a little, how much more Foduct can you create?). articular model tells us that the output product Y is given, a function of capital K, by Y = AKªL'-a ere A is a constant, L is units of labor (assumed to be stant), and a is a constant between 0 and 1. Determine marginal product of physical capital predicted by this del. ned with CamScannerestion 1 Refer to the imformation provided in figure below to answer the question. yet wered ked out of ppf2 Flag question pf! Consumer goods Refer to Figure Economic growth is represented by a Select one: a. shift from ppf2 to ppf1 b. movement along ppf2 c. movement along ppf1 d. shift from ppf1 to ppf2 spoob pade)
- In the Malthusian model, the population growth rate is O A. assumed to be constant. O B. not related to consumption per worker. O C. positively related to consumption per worker. D. exogenous. O E. negatively related to consumption per worker.Which of the below statement is a micro-economics concept? A. The South African GDP grew by 0.6% quarter-on-quarter in period through June B. Statistics South Africa's newly released figures show that Consumer Price Index (CPI) for Augu slightly to 4.8% year-on-year, compared with 4.7% in July. c. Exports of solar panels from China increased by 34% in the first half of 2023 compared to the period last year. D. Eskom, the vertically integrated, state-owned power company, generates approximately 95 per electricity used in South Africa.PER CAPITA OUTPUT to YEAR In the Romer model in figure above, at time to, a change in the shape of the production function can be explained by an increase in the: Select one: O a. ideas efficiency parameter. O b. population. O c. saving rate. O d. share of labor engaged in research. O e. growth rate.
- 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.Identify the steps in a typical scientific study and conmpare with that involved in economic studiesWhich of the following can best be characterized as a subject of macroeconomics? an examination of inflation O an examination of consumer behavior an examination of where goods come from O an examination of how much of a particular good gets produced
- Using sound economic theory, develop a macroeconomic econometric model that would test the relationshipbetween globalisation and economic development in South Africa. You are to state the a priori expectations ofwhat the model would tell us, and you are to write the model using ‘Word Equation’. Finally, each variable that isincluded must be justified regarding its relevance for being there.What do the growth accounting studies conclude are the determinants of growth? Which is more important, the determinants or how they am combined?Exercise D25 What role does government play in stabilizing the economy and what are the tradeoffs that must be considered?
