Q: What is the steady-state level of capital per worker? (Round your answer to three decimal places.)
A: Steady state of capital per worker is achieved where change in capital (∆k) is equal to zero. and ∆k…
Q: escribe the impact of Entrepreneurship on any country’s economic progress
A: One of the major impact of Entrepreneurship is its contribution to economic growth of the country's…
Q: List and describe determinants of productivity.
A: In economic terms, productivity refers to the total output produced per unit of input, this input…
Q: Why is productivity important for the economy?
A: Productivity refers to the ratio of quantity of output to quantity of inputs. It describes how…
Q: Considering the determinants of productivity, in a few paragrahps list and explain some things that…
A: The efficiency with which the different resources are utilized with a country's economy to produce…
Q: What is productivity? Describe the factors of productivity.
A: Productivity is the ratio of output to input which are used in the process of production. It is the…
Q: Per capita GDP in the long run: Suppose an economy begins in steady state.By what proportion does…
A: Meaning of Per-Capita GDP: A country’s GDP or gross domestic product is calculated by taking into…
Q: ording to Ow moc inolog ogress, if the rate of growth of capital per fective worker is increasing,…
A: The Solow–Swan model, typically called the exogenous growth model, may be a long-term economic…
Q: How and why did the changes in labor productivity, the emergence of key markets (land, labor etc.),…
A: Labour productivity emerged as the key market because it is the labour productivity on which the…
Q: How can Theory of Economic Development promote businesses to perform better?
A: Economic development: It refers to the strategies that deal with the development process of the…
Q: Why is it important to study productivity? How do we determine productivity? Give an example of each…
A: Productivity is a proportion of economic execution that looks at how much labor and products are…
Q: Describe the difference between how Economic Expansion and Economic Growth can be displayed on the…
A: The Production Possibility curve can be used to explain two important economic concepts - Economic…
Q: Why are people called as the real products of development?
A: Economic growth is a notion that reflects on the aggregate economic aspect of a specific nation and…
Q: Compare and contrast human capital, H, and physical capital, K. How is H different from labour, L?
A: Physical capital refers to a factor of production or input in the production process. A…
Q: List and describe four determinants of productivity
A: Productivity is a measure of the efficiency of a firm . It is the ratio of the total volume of…
Q: Over the past 100 years, in the United States the average growth rate of, grew at a faster rate than…
A: Gross domestic product (GDP) refers to the total value of all the final goods and services that…
Q: Why do some countries succeed in developing their economies while others fall behin
A: Economic development: - Economic development is the process of improving the social and economical…
Q: Is population’s growth a good thing or bad thing and why?
A: Population Growth refers to increase in the count of people living on the Earth.
Q: entrepreneurs are
A: Entrepreneurs are those individuals who start a business by taking various types of risks. They are…
Q: How can we improve or fix the state of healt given the existence of the fourth industrial…
A: The Fourth Industrial Revolution is an approach to portraying the obscuring of limits between the…
Q: Considering the determinants of productivity, can you list and explain some things that would tend…
A: There are four determinants of productivity: 1) Human capital 2) Natural resources 3) Technological…
Q: Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability…
A: Inclusiveness: It means including all people in any kind of opportunity. Suppose there are some…
Q: What is the relevance of productive and allocative efficiency to the growth process?
A: Economic efficiency refers to the state in which all the resources are optimally allocated to serve…
Q: What do economists mean when they refer to improvements in technology?
A: Factors of productions are referred to the inputs that are used in the process of production to…
Q: In economics, How might productivity be measured for each of the following industries ? a.…
A: The measure that depicts how efficiently inputs are being converted into outputs by companies,…
Q: What is Capital in terms of business?
A: The use of the word 'capital' in business is often different from the colloquial usage of the word.…
Q: why is innovation important for the economy? how we could enrich it?
A: Innovation is the progress in ideas, technology etc which benefits the economic agents (producers,…
Q: Is entrepreneur and entrepreneurship the same?
A: Entrepreneurs play an important role in economic development as a catalyst in the process of…
Q: Give Some examples of different types of productivity measures?
A: The output produced per unit of input is called the productivity. Some of the different types of…
Q: Why does an increase in the labor force cause the Market Productivity of Capital to increase?
A: Marketing productivity is a measure of the profit responsiveness by segment to different levels of…
Q: Why are institutoins the key to economic growth?
A: An institution is nothing but an organization that is working in an economy for a religious,…
Q: During the great depression the USSR had one of the strongest economies in the world how is that…
A: The great depression is known as the greatest economic crisis in the world economy which begun in…
Q: 2. a. List the Kaldor Growth Facts.
A: Since the question you have posted consists of multiple parts, we will answer the first question for…
Q: Economic growth comes from?
A: Economic growth occurs when the production of goods and services in the economy rises. It can be…
Q: Why do Urban populations are capital accumulating whereas rural populations are capital consuming?
A: There are business cycles which have to be known by the business groups all around the world.…
Q: Does improvent in technologies cause higher real wages and lower unemployment rates?
A: The unemployment rates would be the proportion of the unemployed to the total labor force times 100.…
Q: How do gains in labor productivity lead to gains in GDP per capita?
A: GDP per capita: - it is per person output of an economy which can be calculated by dividing a…
Q: What Is Capital Equipment?
A: Capital equipments are capital goods which are used by firms to produce other goods and services,…
Q: Is capital a man - made productive resources
A: When talking about economic activities, production is the primary activity that needs various…
Q: What are the Kenya government policies on SMEs development and growth?
A: The contribution of SMEs or Small and Medium Enterprises in economic growth has been widely accepted…
Q: An increase in labor productivity means businesses will produce more output with the same amount of…
A: Labor productivity refers to the amount of goods and services produced by the workforce at a given…
Q: How cam future business professionals can contribute to the real economic development of a country?
A: Future business professionals are those individuals that are considered highly skilled labor and…
Q: Assume there are 100 workers and each worker produces 100 outputs. If the workforce is growing by 1%…
A: Labor productivity refers to the output per labor hour. It can be calculated using the following…
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