Why do economists consider growth in average labor productivity to be the key factor in determining long-run

Question:

Why do economists consider growth in average labor productivity to be the key factor in determining long-run living standards?

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

Step by Step Answer:

Related Book For book-img-for-question

Principles of Economics

ISBN: 978-0073511405

5th edition

Authors: Robert Frank, Ben Bernanke

See More Books

Question Posted: Dec 12, 2015 04:35 AM

See More Questions

Why do economists consider zero economic profit to be "normal"?
Average labor productivity tends to be a coincident variable. Examine Figure 3.16 carefully. During the 19911992, 2001, and 20082009 recessions, how do you observe average labor productivity behaving...
Average labor productivity tends to be a coincident variable. Examine Figure 3.15 care-fully. During the 19911992, 2001, and 20082009 recessions, how do you observe average labor productivity...
In Simpleland, there are only two risky assets in the market, A and B. The information and CAPM estimates of A and B are shown in the following table: A 100 Million 0.09 Market Capitalisation ($)...
The mean time between failures (MTBF) of a hydraulic press is to be estimated assuming that the time between failures (TBF) is exponentially distributed. A foreman observes that the chance that the...
Prices for used stainless steel side trim for a 1957 Chevrolet convertible are $350, $350, $390, $400, $500, $500, $500, $600, $650, $725, $800, $850, $900, and $1,700. The prices vary depending on...
What types of policies should organizations implement when using social media tools for recruitment?
What about your own values when it comes to balancing your home and work life? Assume that youre about to graduate from law school and about to get married to a fiance (e) whos also about to graduate...
Constants The aurora is caused when electrons and protons, moving in the earth's magnetic field of 5.0 x 105T, collide with molecules of the atmosphere and cause them to glow. Part B What is the...
This unadjusted trial balance is for Challenger Construction at the end of its fiscal year, September 30, 2020. The beginning balance of the owner?s capital account was $46,000 and the owner invested...
What has happened to real GDP per person over the past century? What implications does this have for the average person? Are the implications different for countries in different regions (e.g., Japan...
What is human capital? Why is it economically important? How is new human capital created?
Let f(x) = a 1 sin x + a 2 sin 2x + + a n sin nx, where a 1 , a 2 , . . . , an are real numbers and n is a positive integer. If it is given that |f(x)| |sin x| for all x, show that |a 1 + 2a 2 + ...
Solve the IVP. Do not use Laplace transformation. $\dot{y}=(1-y) \sin t, y\left(\frac{1}{2} \pi ight)=2$
Do a Google search on something like home loans; mortgage lenders; home financing; fixed loans; ARM and spend 10 minutes seeing what you can learn about available home loans. Give the URL of any Web...
A series of 10 end-of-year deposits is made that begins with $7,000 at the end of year 1 and decreases at the rate of $300 per year with 10 percent interest. a. What amount could be withdrawn at t =...
Carlson Photography receives royalties based on the use of their photographs with a major client. Every year, the client makes deposits in Carlsons bank account that earns 6 percent compounded...
Express each complex number in its polar form. $-\frac{2}{3}+j$
Show that each function y = (x) is a solution of the accompanying differential equation. 1 Y-VITAS VI 1 + x y = V1 + 1 dt, y' + 2x3 1 + x4 = 1
The process of collaborative goal setting by a manager and subordinate, the extent to which goals are accomplished is a major factor in evaluating and rewarding the subordinate's performance. It is...
List five arguments often given to support trade restrictions. How do economists respond to these arguments?
What is the difference between the unilateral and multilateral approaches to achieving free trade? Give an example of each.
Mexico represents a small part of the world orange market. a. Draw a diagram depicting the equilibrium in the Mexican orange market without international trade. Identify the equilibrium price,...
A client required an IP address from DHCP server, please list the steps of the DHCP process?
Bijan's pipelined processor features separate instruction and data caches. The instruction cache (I-cache) has a single level and the data cache (D-cache) has two levels, as shown in the figure...
Peter opened a brokerage account to sell short 1,200 shares of Carb Farm stock at the current market price of $160 per share. The brokerage firm charges 12% per annum on the margin loan. a. Suppose...

Why do economists consider growth in average labor productivity to be the key factor in determining long-run

Question:

Step by Step Answer:

Average labor productivity times the share of the population that is employed equals real ...View the full answer

Principles of Economics

Students also viewed these Economics questions