Question: Question 2 (a) Explain in words why it may take a long time for an innovation to affect the economy's growth rate. [4 marks] (b)

Question 2

(a) Explain in words why it may take a long time for an innovation to affect the economy's growth rate. [4 marks]

(b) Explain in words, two ways that technological progress can increase inequality (i.e. increase the Gini coefficient). [4 marks]

(c) Explain in words how progressive redistribution policies can reduce inequality. [2 marks]

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:

the correct IV or levels or DV in experimental hypotheses. A group of college students were given a short course in speed-reading. The instructor was curious if a monetary incentive would influence...

Q:

Conducting successful international sport business requires sound and ethical decision making. Leading sport businesses realize that managers face many different situations that may require them to...

Q:

Hi all, please i need help on this Week 3 "you Decide". The professor complained about higher similarity index. Can anyone help out. The submitted file is attached to this mail. Thanks Keller...

Q:

Hi i have a paper submission to submit. I need help with the attached file. Its a Week 3 "You Decide" paper on Mergers & Acquisitions. Keller Graduate School of Management FIN 561-Mergers and...

Q:

Different cultures have different expectations about how negotiations must be conducted. How would you avoid problems arising due to these differences? What is the most interesting take away from...

Q:

Module 1 Overview 1 of 2 https://ecampus.wvu.edu/bbcswebdav/pid-2756524-dt-content-rid-7938... Before you go any further... If you haven't yet read the Getting Started and Syllabus sections, and...

Q:

Research Report Students name Professors name Institution Date Contents Title .. 3 Abstract 3 Acknowledgement .3 Introduction .4 Main body of Report/Methodology 5 Various kinds of isolation.6...

Q:

313-082-1 CASE DEVELOPMENT CENTRE Navigating an Uncertain Environment Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F264972 Alan N. Hoffman...

Q:

I could not link the case since they are protected so I copied the entire case study in pictures. I have included the links just in case...

Q:

Companies can intentionally commoditize their products or services as a strategy to make money. Discuss using these two different cases below how companies can intentionally commoditize their...

Q:

I have asked three questions with my textbook chapter in which they come from. it would be greatly appreciated if you could help me answer these three questions. Thanks so much. :) 1. What is the...

Q:

Consider there are seven instructions A, E, I, O, U, S and T with relative frequencies 10, 15, 12, 3, 4, 13 and 1. Compose a diagram of a Huffman tree, find op-codes for different instructions and...

Q:

Consider the linear system 4x - y - z = 1 -x + 4y - w = 2 -x + 4z - w = 0 - y - z + 4w = 1. (a) Find the solution by using Gaussian Elimination and Back Substitution. (b) Using 0 as your initial...

Q:

How much will the surface area of a sphere be increased if its radius is increased by 5 % ? a . 2 5 . 0 0 % b . 1 2 . 5 0 % c . 1 5 . 5 0 % d . 1 0 . 2 5 % e . none of the above

Q:

Required information Julie has a low credit rating, plus she was furloughed from her job 2 months ago. She has a new job starting next week and expects a salary to start again in a couple of weeks....

Q:

AX Development Ltd purchased a building for $560 000 on 1 April 2018; this building has an estimated useful life of 8 years. AX Development uses the straight-line method for depreciation. On 31...

Q:

The local CVS sells two brands of laundry detergent: MystTM and BreezTM. Myst and Breez use the exact same formula to make their detergent, and are sold in very similar packaging. The only difference...

Q:

How does hardys conceptualization of vocation and the divine economy specifically connect with the codified work/job design theory outlined in chapter 6 of mello (2019), and with the...

Q:

2. Find the golution for the following differential equation using integrating factor. 2 dy + ty 1 =0 dt 3. Find the solution for the following differential equation AND state the interval of...

Q:

Write a program to wish happy birthday to a student. Firstly, take today month and day as an input and secondly take birthday as an input in the form of month and day. If the input day and month...

Q:

1. Why do we trust one type of information more than another?

Q:

9. Imagine giving a talk to an assembly that is critical of you. Imagine a large aggressive dog that is your friend and facing the assembly. Imagine further that you are on a mountain top and the...

Q:

8. Now spend two to three hours walking around listening to what people are saying. Place yourself in a place where you can hear what people are saying clearly and distinctly, for example in a cafe,...