What do we mean when we say that capital is productive? How do we measure this productivity? What does productivity have to do with the investment demand curve?
Answer to relevant QuestionsOn average, television news reporters are better looking than newspaper reporters. Explain why this might be the case, relying on the discussion in Section 17.4 regarding wage differences. Articulate and defend your position regarding paying college athletes. What is the role played by positive analysis versus value judgments in your argument?What factors determine whether a particular economic issue can be adequately analyzed by using a partial rather than a general equilibrium approach?Suppose that the United States limits the amount of steel that can be imported from other countries. Using a PPF that puts units of steel on the horizontal axis and units of another good, such as food, on the vertical axis, ...“External costs are bad, and government intervention to reduce them is justified. External benefits, however, are good, and there is no reason for government intervention in this case.” Evaluate these statements.
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