A new discovery cuts in half the workers needed to produce any given quantity of output. This

Question:

A new discovery cuts in half the workers needed to produce any given quantity of output. This is true for the whole economy. What will happen to total output, assuming full employment? What is this called?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Economics Barrons Business Review Series

ISBN: 9781438008776

6th Edition

Authors: Walter J. Wessels

See More Books

Question Posted: Feb 18, 2024 04:01 AM

See More Questions

importance of workalike balance for women as a leader in healthcare. 1. The purpose of the research; 2. Research question/s; 3. Findings and relevant data; 4. Any recommendations and; 5. The...
can someone solve this Modern workstations typically have memory systems that incorporate two or three levels of caching. Explain why they are designed like this. [4 marks] In order to investigate...
From the attached article: 1) Introduction - Describe the case. What happened? When did that happen? Who got involved? 2) Identify the link between the case and global market changes?...
a1a2 (d) Suppose a Cobb Douglass production function with two inputs and exponents inside the production function y = xx22 that are less than one. Derive the profit maximizing choices of x1, x2, andy...
Go to the company page for John Deere at www.deere.com/wps/dcom/en_US/corporate/our_company/our_company.page. Click through several of the tabs provided there (about us, citizenship, careers, etc.)...
In Exercises 2325, graph each equation in a rectangular coordinate system. y = x + 2
Diet Cola and Weight Gain in Rats A study fed one group of rats a diet that included yogurt sweetened with sugar, and another group of rats a diet that included yogurt sweetened with a zero calorie...
Carmon Company invested $300,000 in the equity securities of Mann Corporation. The current market value of Carmons investment in Mann is $250,000. Carmon currently needs funds for operating purposes....
Write a Java application that will request a user to enter a sentence, after which it will perform the following operations on the sentence: . Firstly, it will split the sentence into individual...
Suppose the government outlaws any worker from working more than 20 hours a week (perhaps to spread the work around). What would the effect be on per worker output (assuming the number of persons...
If the capital stock increases 10 percent next year and capitals income is 15 percent of GDP, then by how much will GDP grow? If the laborforce increases by 10 percent and labors share of national...
What are United Ways most important internal resources and capabilities?
1. A car with a mass of 40 kg is on a roller coaster track It is moving up a track moving at a velocity of 10 m/s. What is its kinetic energy?
1. A block with a mass of 8 kg is placed on a inclined plane with an angle of inclination of 30 degrees. The coefficient of kinetic friction between the block and the surface is 0.2. a. Calculate the...
What role does language play in the transmission and preservation of cultural knowledge, values, and worldviews, and how do language ideologies intersect with notions of power and prestige?
An electric motor rotating a workshop grinding wheel at a rate of 248 rev/min is switched off. Assume constant angular decel- eration of magnitude 2.55 rad/s. Through how many revolutions does the...
Nowlin Pipe & Steel has projected sales of 29,400 pipes this year, an ordering cost of $6 per order, and carrying costs of $2.00 per pipe. a. What is the economic ordering quantity? Economic ordering...
Anakin, Inc., provides the following account balances for 2011 and 2010: Using the format presented in the chapter, prepare the Operating Activities section of the statement of cash flows and present...
Derive Eq. (18.33) from Eq. (18.32).
An article in the Wall Street Journal discussed the large amounts that music companies are willing to pay in contracts with some hip hop or rap artists. According to the article, these large...
In discussing output-based compensation schemes, such as piece-rate systems, Stanford economist Edward Lazear observed, One major advantage of this approach is that it accommodates a variety of...
According to a columnist in the Wall Street Journal, The fact that smart, ambitious children who attend elite colleges also do well in life doesnt mean the first caused the second. Briefly discuss...
Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: Direct materials Direct labor $ 80,000 $ 40,500 Variable...
Samco signed a 5-year note payable on January 1, 2025, of $425,000. The note requires annual principal payments each December 31 of $85,000 plus interest at 12%. The entry to record the annual...
Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning...

A new discovery cuts in half the workers needed to produce any given quantity of output. This

Question:

Step by Step Answer:

If workers are fully employed then output per worker ou...View the full answer

Economics Barrons Business Review Series

Students also viewed these Business questions