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by Brandon FullerA nation's GDP is determined by its labor force, its capital stock, and its technological knowledge. An increase in the amount of capital per worker increases a nation's GDP. An improvement in technology allows a nation to get more GDP out of its existing capital stock. Technology refers to the way an economy organizes its labor and capital to produce goods and services. If two nations have the same number of workers and capital but one nation uses better technology to get more out of its labor and capital, it will generate more GDP. The nation with better technology has higher productivity--it gets more output per hour of labor input.
A recent Hal Varian commentary in the New York Times focused on the role of technological knowledge in explaining the different productivity experiences of Europe and the United States. Compared to Europe, the United States experienced much stronger growth in output per labor hour over the past decade. Why? The evidence suggests that American firms integrate information technology more quickly than their European counterparts.
Based on the Keynesian theory in does it matter what the money is spent on? discuss and explain the amount of stimulative effect we can expect, depending on how the stimulus is financed.
Submit a short summary of your portfolio project case study - US Mortgage Crisis and the Troubled Asset Relief Program
One type of toy bears is in China and exported to the United State A toy bear sells for sixteen Yen in China. The exchange rate of Chinese yen and US dollars is $1 = 8 Yen.
The following table explaines the production possibilities of 2-cities in the nation of Boston, determine the price of white socks in terms of red socks in Boston?
Chicago and Los Angeles. The total number of passengers flown by these two firms (per quarter), q, is the sum of the passengers flown on American, qA, and those flown on United, qU. Assume no other companies can enter. The flight Chicago-Los Angel..
Flexible Exchange Rates and Economic Policies - In the IS-LM-BP model suppose the consumption function and the investment function
National Products Company participates in a highly competitive industry. In order to meet this competition and to get profit goals, the corporation has chosen the decentralized form of organization.
Assuming that American imports of wine are a small part of total world wine production, draw a graph for the U.S. market for wine under free trade. Now suppose that a tariff is place on the importation of wine into the United States to protect..
If offshore assembly provisions were extended to include more goods and services, what would this do to the actual level of protection provided by a nation's nominal tariff schedule? Describe your reasoning.
Describe how economies benefit from specialization and exchange. Economics is not my strong suit. If there is a way to describe this to me in laymans terms along with an example;
What is offshoring of white-collar service jobs, and how does it relate to international trade? Why has it recently increased? Why do you think more than half of all offshored jobs have gone to India?
Calculate the price elasticities of demand in each market and discuss these in relation to the prices to be charged in each market.
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