Question

In: Economics

the impact of a factor that influences productivity and Competetiveness

the impact of a factor that influences productivity and Competetiveness

Solutions

Expert Solution

Impact of factor that influences productivity and competitiveness are:

(a) Relative inflation: If the inflation rate is relatively lower in other countries ,then over time that country become more competitive because price of goods are increasing slowly over a pried of time.

(b) Productivity: With improved technology and education, the country can enjoy higher labor productivity and therefore produce goods at a lower cost .Higher labor productivity is the key to increasing competitiveness and living standards.

(c) Exchange rate : Movements in the exchange rate will determine competitiveness.A sharp depreciation will make exports cheaper and more competitive.An increase in the exchange rate i.e appreciation will makes the foreign currency price more expensive.

(d) Tax rates : Tax rates on labor and corporations will determine competitiveness. Higher labor tax will increase the unit cost of labor faced by firms,leading to lower competitiveness.

(e) Infrastructure : Cost of transport is also the factor determine competitiveness.


Related Solutions

The impact of factor that often influences productivity and Competitiveness?
The impact of factor that often influences productivity and Competitiveness?
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...
Productivity is a key factor in the cost of goods and services. Increases in productivity can...
Productivity is a key factor in the cost of goods and services. Increases in productivity can become a competitive advantage. Select two retailers (e.g., Verizon and AT&T) or a certain product (e.g., cell phones) and state different ways they compete. Discuss ways a company can gain a competitive advantage by having higher productivity than its competitors have. Add how monopolies compare and give real-life examples.
Discuss one factor that influences resting metabolic rate in humans. Please just discuss one factor that...
Discuss one factor that influences resting metabolic rate in humans. Please just discuss one factor that affects RMR. I want some depth to the content without going into details about lifestyle changes
Discuss one factor that influences resting metabolic rate in humans. Please just discuss one factor that...
Discuss one factor that influences resting metabolic rate in humans. Please just discuss one factor that affects RMR. I want some depth to the content without going into details about lifestyle changes (that will be up to your peers to discuss in their replies). Link: https://www.cbsnews.com/news/dont-blame-your-metabolism/
Which of the following is not a factor that influences a business's control environment? a.personnel policies...
Which of the following is not a factor that influences a business's control environment? a.personnel policies b.proofs and security measures c.management's philosophy and operating style d.organizational structure Accompanying the bank statement was a debit memo for an NSF check received from a customer. What entry is required in the company's accounts? a.debit Cash; credit Other Income b.debit Cash; credit Accounts Receivable c.debit Other Income; credit Cash d.debit Accounts Receivable; credit Cash Entries are made to the petty cash account when...
Choose one factor which influences on the effectiveness of a manager and explain it, and determine...
Choose one factor which influences on the effectiveness of a manager and explain it, and determine what can you do with this factor?
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?
Reasons why productivity is important are numerous. Although productivity increases can have a negative impact in...
Reasons why productivity is important are numerous. Although productivity increases can have a negative impact in an economic situation where the productivity increases at a faster rate than the growth of the economy, generally, productivity increases typically have a positive impact. Simply, productivity is an important competitive issue. It can be important and reviewed on three levels: national, organizational, and personal.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT