Economic Growth, Productivity & Policy from Chapter 62 / Lesson 1 3K Periods of economic growth are those in which people are working and spending more and moving the economy toward its full potential output. Explore how economic productivity leads to growth, and how mon...
Explain how the following relates to economic growth: Labor productivity. How can labor productivity be increased? A. Explain the role labor productivity plays in wage determination in the competitive labor market. B. If productivity increases, what happens to wages and why?
An example of diminishing marginal productivity is related to the labor costs for manufacturing a car. It is more immediately profitable to lay off 10% of the manufacturing staff, and the manufacturing line may make do with the remaining resources for the first few vehicles. However, after a w...
Explain how an increase in productivity impacts the AD/AS model and state the effect on the price level and aggregate output in this economy. Assume that the economy is at full employment real output; Define and explain econo...
‘effective’ net volumetric rate of all microbial activity in our one dimensional and diurnally averaged model. In this sense, the effective rate of the reaction relates to the biomass density in the model. The effective reaction is constrained to occur within the temperate region of the cloud ...
Because ABCT is a theory of how individual actors will choose in the faceof certain forms of central bank activity, the natural mode in which to employ1ABCT is that of historical explanation rather than formal Boet-tke (1994, p. 5) says, “Historical interpretation illustrates the power of...
Describe the New growth theory. How do you interpret a trend in PPI? specifically, a decreasing trend. Explain four ways in which a firm might increase its profits by raising the wages it pays. Explain the term total revenue. Define productivity and explain how it is measured. ...
What is the relationship between productivity and inflation? How inflation and unemployment affect the economy in terms of growth in the United States? Explain. Does economic growth always lead to inflation? Explain. (a) Explain the effect of the business cycle on inflation. (b) Explain the eff...
Explain the importance of the global knowledge structure to all other IPE structures. Describe how discounting relates to dynamic efficiency. Discuss the importance of insurance to the risk averters. Explain the importance of assumption of no barriers to entry in perfect competition. ...
What is the best way to explain the production function equation to AP macroeconomics students as it relates to GDP?Macroeconomics TheoriesThe rate of productivity of a firm or enterprise contributes to the Gross Domestic Product value of all commodities. ...