In 2010, the economy's resource base consists of 10 laborers and a capital stock of $50. Its
Question:
Calculate
(1) The 20102011 rate of economic growth,
(2) The capital-labor ratio in 2010,
(3) The GDP in 2010, and
(4) The 20102011 capital deepening.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (8 reviews)
1 Real GDP in 2010 is 25 Real GDP in 2011 i...View the full answer
Answered By
Ayush Mishra
I am a certified online tutor, with more than 3 years of experience in online tutoring. My tutoring subjects include: Physics, Mathematics and Mechanical engineering. I have also been awarded as best tutor for year 2019 in my previous organisation. Being a Mechanical Engineer, I love to tell the application of the concepts of science and mathematics in the real world. This help students to develop interest and makes learning fun and easy. This in turn, automatically improves their grades in the subject. I teach students to get prepared for college entry level exam. I also use to teach undergraduate students and guide them through their career aim.
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
Calculate the growth rates of output (y) and labor productivity (y h) in each of the following scenarios. Assume that the share of capital in total income (b) is 0.25. (a) (b) (c) Based on your...
-
Calculate nominal GDP in 2011and 2012. An economy produces only apples and oranges. The base year is 2011, and the table gives the quantities produced and the prices. Quantities Apples Oranges 2011...
-
Is it possible for an economy to experience economic growth as measured by total GNP without a commensurate rise in the standard of living? Discuss fully.
-
Two tiny particles having charges of 5.76 C and -7 C are placed along the y-axis. The 5.76 C particle is at y = 0 cm, and the other particle is at y = 48.74 cm. Where must a third charged particle be...
-
Fill in the blanks to make the following statements correct. a. Such a product as coffee beans is cheaply transported and is traded around the world. The law of ______ tells us that it will tend to...
-
Name two frameworks for understanding the competitive landscape. Discuss.
-
Do you think Roe v. Wade is an example of legislating morality? Why or why not?
-
Horne executed a $100,000 note in favor of R. C. Clark. On the back of the instrument was a restriction stating that the note could not be transferred, pledged, or otherwise assigned without Hornes...
-
HomeWeb is a new real estate advertising company in Melbourne, Australia. The company has around 30 staff taking care of their main company website where real estate agents pay to post their...
-
Moon Micro is a small manufacturer of servers that currently builds all of its product in Santa Clara, California. As the market for servers has grown dramatically, the Santa Clara plant has reached...
-
How do increases in labor skills affect labor pro ductivity? Give an example.
-
Why do we need money?
-
The government is considering raising the tax rate on labor income. Explain the supply side effects of such an action and use appropriate graphs to show the directions of change, not exact...
-
Dontae's employer has offered him the following employment package. Salary Health insurance Dental insurance Membership to Heflin Country Club Season tickets to Atlanta Braves games Tuition...
-
Copr. Goed! Luster, LLC uses departmental overhead rates for the fabrication and painting departments. Relevant data is below. Fabrication department: $10,000 fixed overhead, variable overhead $19...
-
Jeff Johanson is a proprietor who owns a small retail shop that sells clothing. The company pays $7 for a shirt and later sells it for $24. The company will recognize $17 of ?
-
Identify the two key functions of management: leading, controlling, and accurately describing specific activities under each. Compare and contrast provide two examples each for your critical thinking...
-
Apply effective interpersonal skills. Xian finished carpentry and is eager to work in the construction industry. Unfortunately, she graduated in a bad time, the economy is down. Housing prices are...
-
Consider the flow field of Prob. 4116 (flow over a circular cylinder). Consider only the front half of the flow (x < 0). There is one stagnation point in the front half of the flow field. Where is...
-
Differentiate the following terms/concepts: a. Personality types and money attitudes b. Planners and avoiders c. Moderating and adapting to biases d. "Perfectible judges" and "incorrigible judges"
-
Frequent moviegoers often note that movies are rarely based on original ideas. Most of them are based on a television series, a video game, or, most commonly, a book. Why? To help you answer this...
-
a. In the nineteenth century, economist Alfred Marshall wrote about decreasing cost industries, writing in his Principles of Economics (available free online) that When an industry has thus chosen a...
-
In Kolkata, India, it is very common to see beggars on the streets. Imagine that the visitors and residents of Kolkata become more generous in their donations, what will be the effect on the standard...
-
What is the minimum quantity firms need to sell in order to start earning profit given insurance costs of $50,000, materials o per unit, and break even quantity is 1500?
-
Assume a 10% discount rate and compute the present value of Rs. 1100, Rs.900, Rs.1500 andRs.700 received at the end of 1-4 years In the above sum if the amounts are received at the beginning of the...
-
Recall that an FX rate XXXYYY = Bid/Offer gives the rate of YYY per XXX. You can buy XXX/sell YYY at the offer price and sell XXX/buy YYY at the bid price. EURUSD is trading at 1.4760/1.4763 USDJPY...
Study smarter with the SolutionInn App