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- Which of the below actions is likely to LOWER labor productivity and lower the economy's GDP (the gross domestic product and the size of the economy)? A) Hiring lots of workers with lower skills and using less machinery, computerization, tools, and equipment. B) Shifting from labor-intensive technology to more advanced technology that uses less worker-time to produce a set quantity of output. C) Greater investment in physical capital such as better and more advanced machinery and tools (physical capital). D) Better and higher education and training for workers.The following equations describe a small economy. Figures are in millions of dollars; interest rate (i) is in percent per annum. Assume that the price level (P) is fixed. Goods Market C = Co + cYD (Private consumption) YD = Y + TR – T (Disposable income) T = To + tY (Total taxes) I = Io – bi (Private investment) G = Go, TR = TRo (Gov. Expenditure and Transfers, respectively) Y = C + I + G (Goods mkt. equilibrium condition) Money Market L = kY- hi (Demand for real balances) Ms = Mo/P (Real money supply) L = Ms (Money mkt. equilibrium condition) Endogenous Variables: C, YD T, I, Y, L, Ms and i Exogenous Variables: Co = 300, To = 80, Io = 450, Go = 300, TRo = 100, Mo = 350, P =1 Parameters: c = 0.85, t = 0.15, b = 50, k = 0.25 and h = 62.5 Policy…Please label which part of the question (a, b, c, or d) that you are answering. A small economy produces only two goods: bananas and computers. The prices and quantities of these goods for the years 2018, 2019 and 2020 are given below. Show all working where possible and express answers to 2 decimal points. Year Price of Bananas Quantity of Bananas (kgs) Price of Quantity of (per kg) Computers Computers 2018 $4.10 947 $331.00 55 2019 $ 4.20 970 $335.00 57 2020 $ 4.30 990 $340.00 60
- Output measured through a macroeconomic lens can be explained as: A) Production of the entire economy. B)Production in a monopoly. C)Production of one worker. D)Production of a business.Which of the following would not increase potential GDP? a) an increase in the size of the labour force b) technological change c) a fall in the rate of unemployment d) new factories being builtWhich of the following is a measure of domestic output (production)? Group of answer choices a) Interest rates. b) Real GDP. c) The GDP deflator. d) None of the other options. e) The unemployment rate
- You looked at many economic indicators, including data regarding unemployment, GDP, housing starts, and consumption spending. Which of the following economic indicators NOT including those four would you likely see to support this analysis of the economy? The consumer confidence index is likely rising Inflation (the general price level of goods and services) is likely increasing Stock share prices are likely decreasing New businesses are likely being openedChina's economy to grow 8% annually from 2006 to 2010 The Chinese economy is expected to grow at a rate of 8 percent a year between 2006 and 2010. China's goal is to quadruple its GDP. By the end of 2010, China's GDP will be equal to US $2.3 trillion or US $1,700 per person (2005 dollars) and by 2020, China's GDP will be equal to US $4.7 trillion, or US $3,200 per person. What is the population growth rate assumed in the calculations of GDP per person from 2010 to 2020? The population growth rate over the ten year period from 2010 to 2020 is Source: China Daily, March 21, 2005 percent. O A. 19.25 В. 16.1 O C. 0.015 D. 88.2 Click to select your answer. MacBook Air DII 20 000 000 F11 F12 F9 F10 F6 F7 F8 esc F3 F4 F5 F1 F2 & ! @ 2$ %3D delete 4 5 6. 7 8 1 2 { P T Y Q W tab G H J K A S D F caps lock 7 N M V X ~の B # 3Applied Problems on Monetary Policy and Interest Rates 1. For each of the following questions, draw the Money Demand curve (MD) and Money Supply curve (MS) and label the equilibrium interest rate as i*. Also show how the MS- MD graph changes due to the given events and as a result how the equilibrium interest rate changes. (In your answer you should clearly state and show what happens to the MS and MD curves and also what happens to the interest rate).
- 1) GDP is a better indicator of economic growth and welfare than GNP because a) indicates income from goods/services that are available in the country.b) it is always larger than the GNP and includes government services.c) the entrepreneurs' effort of combination of other factors of production are included.d) all factor of production's income are accounted for. 2) To increase your productivity, you must a. use the latest equipment.b. increase your marginal price. c. hone your skills. d. be good looking. a) a and c.b) b and d.c) a and b 3) The Malthusian population trap tell us that a) that there is a stage that income and population stop to grow.b) increased population has nothing to do with economic growth.c) There is point in which population is not contributing to labor increases.d) trade routes of people is responsible for population growth. .e) there is inequality in income there fore population is affectedAn economy produces three goods: organ, apple and organ juice. It is assumed that half of the organ are bought and consumed as final good; the other half is used to produce organ juice. In 2019, 20 KGs of organ are produced at Rs.50/kg, 40 KGs of apple are produced at 100/kg, and 25 Glasses of organ juice are produced at Rs.200/glass. In 2020, 40 KGs of organ are produced at Rs.80/kg, 60 KGs of apple are produced at 110/kg, and 30 glasses of organ juice are produced at Rs.195/glass. Find the following: i. Assuming 2019 is the base year; calculate the real and nominal GDP in 2019 and 2020Suppose that Indonesia's national production function is Y = K 05L 05, where K is the amount of land and Lis the amount of labor. The economy starts when the amount of land owned is 100 units and the number of workers is 100 units. Calculate the following indicators. a. How much output is produced? b. What are the labor wages and land rent? c. What is the share of the output received by labor? d. If a natural disaster occurs that causes the population to be reduced by half, what is the new level of national output? e. What are the new rates of labor wages and land rent? f. What share of output does the labor receive now?