Question: (a)Explain how the following changes will affect the total employment, average wage rate, labourproductivity and growth rate of GDP of an economy. (i) An increase

(a)Explain how the following changes will affect the total employment, average wage rate, labourproductivity and growth rate of GDP of an economy.

(i) An increase in labour force participation rate

(ii) A growth in capital per worker accompanied by technological change

Which of the above changes would contribute more toward a sustained high economic growth rate of an economy in the long run?

(b)Suggest three government policies which can be used to raise economic growth rate of aneconomy.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

xplain how the following changes will affect the total employment, average wage rate, labourproductivity and growth rate of GDP of an economy. (i) An increase in labour force participation rate (ii)...

Q:

Each question should be well explained 13. Which of the following would represent an injection into the circular flow of income and AS 3 expenditure? PRICE LEVEL (A) Investment spending AS (B) Income...

Q:

HI PLEASE ANSWER ALL 78 MULTIPLE CHOICE QUESTIONS THANK YOU 1. Which of the following will lead to a decrease in both equilibrium price and quantity in a market? a)A decrease in demand b)An increase...

Q:

Economists assume that Group of answer choices individuals behave in unpredictable ways. consumer behavior is explained by the existence of unlimited resources. people put other people's interests...

Q:

Help solve this....ONLY ANSWER WITH EXPLANATION will be accepted 5. Which of the following is included in the 8. Which of the following workers is most likely to investment component of real gross...

Q:

Canadian GDP Per Capita Is Still Down, May I Indicate Drop In Living Standards: Stat Can MAY 25 2022 Canada's economy is booming, and there's a good chance you're not feeling any of the benefits. A...

Q:

Discuss the following operations categories for this site in relation to company and operations strategy: capacity, facilities, technology, vertical integration, sourcing, work force, quality,...

Q:

Q41-50 1.'Frictional unemployment' can be defined as unemployed that Select one: a.arises due to changes in technology in the economy. b.occurs as the result of a recession. c.occurs when people are...

Q:

Question! Indalex: Discuss the following operations categories for this site in relation to company and operations strategy: capacity, facilities, technology, vertical integration, sourcing, work...

Q:

How should Robert's contributions to GDP be calculated? using his income, not his expenditure using his expenditure, not his income using both his income and his expenditure using either his income...

Q:

Subject 1 (40%) A. As a business valuation expert, you have been allotted with the project to estimate the cost of equity for Alton Holdings. Alton Holdings operates in three different business...

Q:

Explain the dynamics of social influence, and describe two different techniques for gaining compliance that rest on Cialdinis consistency principle. Discuss thoroughly Cialdinis basic principles of...

Q:

What happens when a futures contract reaches its expiry date? Question 3 Answer a . It is automatically renewed for the next term. b . It ceases to exist, and positions are settled. c . It must be...

Q:

Select and research ONE of the following companies that has been in the news for an ethical dilemma. Prepare a PowerPoint about this company's ethical dilemma and resulting ethical failure, according...

Q:

3. (Constructing a metaphor about something can be done by comparing it to something else by using the word is. For instance, Communication is a bridge between people.

Q:

1. The first party (the sender) may dispute the validity of the interpretation, or 2. He/she can accept the interpretation.

Q:

2. In this chapter, the reader should reflect on the following concepts: Message, communication error, data, code, information, metaphor.