Question
In: Economics
If technology was fully transferable and all countries had the same total factor productivity and all...
If technology was fully transferable and all countries had the same total factor productivity and all workers had the same productivity, what does economic theory predict that would happen between those that have high output per capita and those that have low output per capita? Why? Explain briefly in line with the growth theory you would like to use.
Solutions
Rahul Sunny answered 3 months agoRelated Solutions
On the Solow model, are z(Solow residual) and Total Factor Productivity the same?
On the Solow model, are z(Solow residual) and Total Factor Productivity the same?
Or different? Please explain.
Suppose that the (total factor) productivity level A can be broken down into a technology level...
Suppose that the (total factor) productivity level A can be
broken down into a technology level T and efficiency level E as
follows: A = T ?E. In the USA, the average growth rate of A is
0.81% per year while the efficiency level does not change.
Productivity in Canada is 77% that of the USA. Suppose that Canada
is five years behind the USA in terms of technology. What is the
efficiency level in Canada relative to the USA?
? = ??^(1/3) L^(2/3) Assume that total factor productivity, A, equals 2 in all parts of...
? = ??^(1/3) L^(2/3)
Assume that total factor productivity, A, equals 2 in all parts
of this question.
(a) Compute the level of output produced when K=10 and L=20.
(b) Does this production function exhibit essentiality? Prove
this.
(c) Does this production function exhibit constant returns to
scale? Explain why it does or does not and prove that your answer
is correct by computing the effect of simultaneously tripling the
quantities of K and L from their levels in (a). ...
An increase in total factor productivity will lead to which of the following? An increase in...
An increase in total factor productivity will lead to which of
the following?
An increase in the productivity of labor but not capital.
A decrease in the productivity of capital, but not labor.
An increase in the productivity of labor and capital.
A decrease in the productivity of labor, but not capital.
a) Please calculate the Total Factor Productivity of a countryfor a year with the following...
a) Please calculate the Total Factor Productivity of a country
for a year with the following data on Real GDP of the country along
with other required information:Y = $ 2,000 billionL = 40 billion hoursK = $ 10, 000 billionα = 0.7b) If the labour force increases by 20%, how it will affect the
total factor productivity?
1 Wouldn't it be better if all countries had the same healthcare model? 2 Why would...
1 Wouldn't it be better if all countries had the same healthcare
model?
2 Why would this not work? Elaborate
In real business cycle theory, the persistence of shocks to total factor productivity is justified by
In real business cycle theory, the persistence of shocks to
total factor productivity is justified byathe fact that capital takes time to build.bthe fact that capital depreciates every period.cthe behavior of Solow residuals in the data.dthe fact that monetary policy can be neutral.
One of key predictions of the Solow Growth Model is that growth in total factor productivity...
One of key predictions of the Solow Growth Model is that growth
in total factor productivity will ensure long run economic growth.
While Canada has been making progress in terms of a growing
technology sector due to many factors, some of which include:
strong economic base and rising standard of living highly educated
work force multi-cultural mix and friendly business environment
universal health care foreign immigration policies friendly
domestic immigration policy and foreign anti-immigration
policies
Discuss some public policies that...
One of key predictions of the Solow Growth Model is that growth in total factor productivity...
One of key predictions of the Solow Growth Model is that growth
in total factor productivity will ensure long run economic growth.
While Canada has been making progress in terms of a growing
technology sector due to many factors, some of which include:
strong economic base and rising standard of living
highly educated work force
multi-cultural mix and friendly business environment
universal health care foreign immigration policies
friendly domestic immigration policy and foreign
anti-immigration policies
Discuss three public policies (in...
Explain why employment may rise or fall in response to an increase in total factor productivity....
Explain why employment may rise or fall in response to an
increase in total factor productivity.
A.
An increase in total factor productivity causes the PPF to
become steeper at any given quantity of leisure but also to shift
down, and the relative magnitudes of these shifts are unknown.
B.
An increase in total factor productivity causes the PPF to
become flatter at any given quantity of leisure but also to shift
up, and the relative magnitudes of these shifts...
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