America and Country X have the same levels of consumption, investment, and government
purchases, but Country X sells twice as many exports as buys twice as many imports
as America. Which country must have a larger GDP?
A multiple-choice question with one possible answer.(Required)
On average, Japanese workers have lower hourly productivity and work fewer hours
than their Italian counterparts, yet Japan has a higher GDP per capita than Italy. This is because
A multiple-choice question with one possible answer.(Required)
Suppose the economy has TFP = 10, there are 400 hours worked, and 9 unit of capital and the Cobb-Douglas production function is (note: 91/2 =3, 4001/2=20).
Output is currently
A multiple-choice question with one possible answer.(Required)
Suppose the economy has TFP = 10, there are 400 hours worked, and 9 unit of capital and the Cobb-Douglas production function is (note: 91/2 =3, 4001/2=20).
The marginal product of labor is
A multiple-choice question with one possible answer.(Required)
Suppose the economy has TFP = 10, there are 400 hours worked, and 9 unit of capital and the Cobb-Douglas production function is (note: 91/2 =3, 4001/2=20).
If total factor productivity grows by 1% per year while capital and labor each grow by
2% per year, then output grows by
A multiple-choice question with one possible answer.(Required)
If both imports (M) and exports (X) are nonzero, which of the following accurately reflects a national income accounting measure?
A multiple-choice question with one possible answer.(Required)
Suppose that 30% of a country’s population is institutionalized in schools, hospitals,
or prisons; 10% are full-time homemakers; another 10% are retired; 45% of the population is employed either full-time or part-time; and 5% of the population is unemployed and seeking work. Then the unemployment rate is
Q1) The answer is (d) The answer depends on whether America has positive or negative net exports
If the net exports are positive in America, then X has a higher GDP
If the net exports are negative in America, then X has a lower GDP
If the net exports are 0 in America, then X has the same GDP
Q2) The answer is (d) Japan has a higher labor force participation rate and employment rate. Fue to higher employment and labor force participation rate, the output can be higher even with low productivity.
(a) is false as large population would lead to a lower GDP per capita
(b) is wrong as the data collection systems are reliable.
(c) is wrong as Italy is a much larger expoter than Japan.
Get Answers For Free
Most questions answered within 1 hours.