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Productivity:Generally, productivity measures efficiency or effectiveness of productive effort. Productivity can be measured in several different ways. Physical productivity measures the actual amount of a service or good produced (for example tons of steel, or number of haircuts). Productivity can also be measured in terms of value of output. Most commonly, productivity is measured as the amount of output produced over a certain period of work (for example output per hour); this is considered a measure of labour productivity. Though other approaches are also possible, including measurements of capital productivity (output relative tothe value or physical quantity of invested capital) and ‘total factor productivity' (that is an abstract statistical measurement of the overall effectiveness of production)
Explain the difference between elastic and fixed supply
Credit Squeeze:At times private banks become reluctant to issue new credit andloans, frequently because they are worried about risk of default by borrowers. This is common at the t
characteristics and models of oligopoly by Sweezy,cournot and edgework
What is the marginal opportunity producing the first unit of paper? The marginal opportunity cost of producing the forth unit of paper?
Cost Push or Supply Inflation: It is a situation where the process of increasing price level is caused by increasing costs of production which push up prices. Cost push infla
When you drop by the only coffee shop in your neighbourhood, you notice that the price of a cup of coffee has enhanced considerably since last week. You decide it's not a big dea
economists would predict that if salaries increased for engginieers and decreasded for mba braduates that fewer people would go to graduate school in business and more would go in
What is Economic Depreciation?
Principle Agent Problem [Dealing with hidden action] Assume that the employer (principle) wants its employee (agent) to work hard [You can safely assume that this maximizes th
You are tasked with evaluating a project for reducing nutrient (nitrogen and phosphorus) loading into the Gulf of Mexico (GOM). These nutrients make their way into the GOM by way o
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