The aggregate production function is Y = 3KL. If there are 20 units of capital and 50 units of labor, what is capital productivity? Group of answer choices 300 1000 600 150
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The aggregate production function is Y = 3KL. If there are 20 units of capital and 50 units of labor, what is capital productivity?
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- Economies production function is Y = AK0.3N0.7. If K = 2000, N = 100, and A= 1, then Y = ?The aggregate production function is y=3KL. If they are 30 units of capital and 40 units of labor, what is aggregate output? What is labor productivity? What is capital productivity?What’s the formal name for the A_bar parameter in the production model we study? A. Average GDP B. Total factor productivity C. Per capita GDP D. Per capita capital
- The graph below represents per-worker production functions for the same country. Answer the following questions using this graph. Which 1 concept explains that the area between B and C has a flatter slope than the area between A and B? Answer: Law of Diminishing Marginal Returns What has to happen for a country to move from point E to B to D? Answer: The movement through which 3 points (out of 5 given) would indicate the largest increase in productivity? Answer:Why does adding capital to a production function make the economy more productive? What are diminishing returns to capital? How does technology affect productivity and growth?Please no written by hand and graph Consider a small world that consists of two different countries, a developed and a developing country. In both countries, assume that the production function takes the following form: Y = F (K, LE) = K¹/4 (LE) 3/4, where Y is output, K is capital stock, L is total employment and E is labour augmenting technology. (a) Does this production function exhibit constant returns to scale in K and L? Explain. (b) Express the above production function in its intensive form (i.e., output per-effective worker y as a function of capital per effective worker k). (c) Solve for the steady-state value of y as a function of saving rate s, population growth rate n, technological progress g, and capital depreciation rate 6. (d) The developed country has a savings rate of 30% and a population growth rate of 2% per year. Meanwhile, the developing country has a savings rate of 15% and population growth rate of 5% a year. Technology evolves at the rate of 8% and 2% in…
- I am having a problem with these four problems webdav/pid-1221589-dt-content-rid-8618514_1/courses/1678.201780/Assign2.pdf + Automatic Zoom : 19. Technological progress helps increase the productivity of labor, defined as the number of units of output produced per hour of labor. A rise in the productivity of labor in the production process, ceteris paribus, will cause A) the demand for the output to increase. B) the demand for the output to decrease. C) the supply of the output to increase. D) the supply of the output to decrease. E) None of the above is correct. Q Search 20. An economic recession with a decline in household incomes will negatively impact all retail businesses. A) True B) False 21. If we assume that the current equilibrium wage for low-skilled labor is $8 per hour and the minimum wage is increased from $5.75 to $7.25 per hour, then A) unemployment among low-skilled workers will increase. B) unemployment among low-skilled workers will remain unaffected. C) unemployment…A CES production function with physical and human capital Consider the CES production function in terms of physical capital, K, and human capital, H: where 0 a. Set up the Hamiltonian and find the first-order conditions. b. What is the optimal relation between K and H? Substitute this relation into the given production function to get a relation between Y and K. What does this “reduced-form” production function look like? c. What is the steady-state value of the ratio of physical to human capital, (K/H)∗? d. Describe the behavior of the economy over time if the initial condition is such that K(0)/H(0)? e. Suppose that the inequality restrictions IK ≥ 0 and IH ≥ 0 apply. How do these constraints affect the dynamics if the economy begins with K(0)/H(0)∗?True or False A production function in "economics" summarizes the technological relationship between inputs and outputs.
- explain what is meant by intermediate products and the role they play in the production function.The aggregate production function is Y = 5KL. If there are 18 units of capital and 50 units of labor, the capital productivity is ___________.Problem 1 Consider the simple (one-period) production model. The production function is Cobb-Douglas, exhibits constant returns to scale, and the exponent on capital equals 0.25.
