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.

Expert Solution

Rahul Sunny answered 8 months ago

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?

Question 3 Define “productivity”. Compare single factor productivity measure with total factor productivity measure. What do...

Question 3 Define “productivity”. Compare single factor productivity measure with total factor productivity measure. What do we mean when we say productivity is a “relative” measure? Various financial data for the past two years follow. Calculate the total factor productivity and the single-factor productivity measures for labor, capital, and raw materials for this company for both years. What do these measures tell you about this company? Last Year This Year Output: Sales $201,005 $202,015 Inputs: Labor $30,010 $40,010 Raw materials...

? = ??^(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...

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If technology was fully transferable and all countries had the same total factor productivity and all...

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On the Solow model, are z(Solow residual) and Total Factor Productivity the same?

Suppose that the (total factor) productivity level A can be broken down into a technology level...

Question 3 Define “productivity”. Compare single factor productivity measure with total factor productivity measure. What do...

? = ??^(1/3) L^(2/3) Assume that total factor productivity, A, equals 2 in all parts of...

An increase in total factor productivity will lead to which of the following? An increase in...

a) Please calculate the Total Factor Productivity of a countryfor a year with the following...

1 Wouldn't it be better if all countries had the same healthcare model? 2 Why would...

In real business cycle theory, the persistence of shocks to total factor productivity is justified by

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...