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Which of the following would increase productivity.

A. An increase in the physical capital stock per worker.

B. An increase in human capital per worker.

C. An increase in natural resources per worker.

D. All of the above are correct.

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Related questions

The productivity of workers will increase in response to

1. Higher resource costs
2. An increase in the amount of physical capital per worker
3. Lower wages
4. An increase in diminishing returns.

 

1) Over the past year, productivity grew 1%, capital grew 4%, and labor grew 2%. If the elasticities of output with respect to capital and labor are 0.5 and 0.5, respectively, how much did output grow? A) 3% B) 4% C) 5% D) 6%

2) In the long-run, an increase in the population growth rate in a steady-state economy will cause A) an increase in capital per worker and an increase in consumption per worker. B) an increase in capital per worker and a decrease in consumption per worker. C) a decrease in capital per worker and a decrease in consumption per worker. D) a decrease in capital per worker and an increase in consumption per worker.

3) You transfer $500 from your checking account to your savings account. What is the overall effect on M1 and M2? A) M1 falls by $500, M2 rises by $500. B) M1 falls by $500, M2 is unchanged. C) M1 rises by $500, M2 is unchanged. D) M1 is unchanged, M2 rises by $500.

4) An increase in the real interest rate on non-monetary assets is likely to cause A) a decline in the real money demand. B) an increase in the real money demand. C) no change in the real money demand. D) no change in the real money demand only if the income elasticity of real money demand is zero.

5) The most liquid asset on this list is A) money. B) bonds. C) houses. D) stocks.

1. According to the Solow model, an increase in the capital-labor ratio will a. always increase steady state consumption per worker b. reduce steady state consumption per worker if the capital-labor ratio is below the Golden rule capital stock c. always reduce steady state consumption per worker d. increase steady state consumption per worker if the capital-labor ratio is below the Golden rule capital stock

2. In a steady state a. capital and labor, by definition, are inversely related to one another b. both consumption per worker and the capital-labor ratio are constant c. consumption per worker can change, but the capital-labor ratio is constant d. consumption per worker is constant, but the capital-labor ratio can change

3. Which of the following changes would lead, according to the Solow model, to a higher level of long-run output per worker? a. An increase in the saving rate b. A lower level of capital per worker c. A decrease in productivity d. A rise in the rate of population growth

4. In the long run, a reduction in productivity will cause a. an increase in the capital-labor ratio and a decrease in consumption per worker b. a decrease in the capital-labor ratio and a decrease in consumption per worker c. a decrease in the capital-labor ratio and an increase in consumption per worker d. an increase in the capital-labor ratio and an increase in consumption per worker

5. An increase in the growth rate of population in a steady-state economy would cause a. a pivot down and to the right in the investment line b. a parallel shift downward in the investment line c. a pivot up and to the left in the investment line d. a parallel shift upward in the investment line 1 2

6. In the efficiency wage model, an increase in productivity would a. have no effect on either output or the real wage b. increase output but have no effect on the real wage c. decrease the real wage but have no effect on output d. increase output but decrease the real wage

7. Keynesian economists believe that in the short run, a. money neutrality does not exist and prices adjust rapidly b. money neutrality does not exist and prices do not adjust rapidly c. money neutrality exists and prices adjust rapidly d. money neutrality exists and prices do not adjust rapidly

8. If the expected inflation rate is unchanged, a fall in the natural rate of unemployment would a. not shift the Phillips curve b. shift the Phillips curve to the left c. shift the Phillips curve to the right d. shift the Phillips curve to the left and shift the long-run Phillips curve to the right

9. Classical economists believe that in the short run, a. money neutrality does not exist and prices adjust rapidly b. money neutrality does not exist and prices do not adjust rapidly c. money neutrality exists and prices do not adjust rapidly d. money neutrality exists and prices adjust rapidly

10. The fact that the long-run Phillips curve is vertical implies that a. money can’t affect inflation in the long run b. money is neutral in the long run c. monetary policy can’t affect unemployment d. there is a natural rate of inflation

1. Briefly explain the shape of the per-worker production curve in the Solow model. If investment per worker initially exceeds saving per worker, how is the steady state capital-labor ratio achieved?

2. Describe the effects of a rise in the domestic real interest rate on the exchange rate and on both domestic and foreign net exports.

3. For each of the following changes, what happens to the real interest rate and output in the short run, before the price level has adjusted to restore general equilibrium? a. Wealth declines b. Money supply declines c. The future marginal productivity of capital declines d. Expected inflation rises e. Future income rises

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