Suppose an economy's real GDP is $5,000 billion. There are 125 million workers, each working an average of 2,000 hours per year. a. What is labor productivity per hour in this economy?
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- Say that the average worker in the U.S. economy is eight times as productive as an average worker in Mexico. If the productivity of U.S. workers grows at 2 for 25 years and the productivity of Mexicos workers grows at 6 for 25 years, which country will have higher worker productivity at that point?4. How is GDP per capita calculated differently from labor productivity? 5. How do gains in labor productivity lead to gains in GDP per capita? 6. What is an aggregate production function?QUESTION 16 Sat Aroer A. If 60 per cent of the population in a country is employed and average labour productivity equals $20,000. Calculate real GDP per person a. If real GDP por person in this incroases to "$10,000" and labour productivity is $15,000, What is the percentage of the population is employed? for the tooher, pres ATIFIOer ALTfNFI0 Mac
- Give Some examples of different types of productivity measures?Suppose in 2000, the country of Singsville had a GDP of $120400 and a population of 650. In 2001, GDP increased to $122800 and the population increased to 700. Between 2000 and 2001, did labor productivity increase, decrease, or stay the same in Singsville? Olncrease Ostay the same ODecreaseHow do we measure labor productivity? How do changes in labor productivity affect the U.S. standard of living? Does an increase in labor productivity always leads to an increase in standard of living, explain?
- An increase in labor productivity means businesses will produce more output with the same amount of labor. Explain● To produce a Ipad pro : it requires 7 hours of work for software, 6 hours of work for hardware, 8 hours of work for decoration. To produce an Iphone : it requires 6 hours of work for software, 3 hours of work for hardware, 9 hours of work for decoration. To produce an Apple Watch it requires 8 hours of work for software, 5 hours of work for hardware, 4 hours of work for decoration. • If their workers can produce 10000 hours of work for software, 7500 hours of work for hardware, 9000 hours of work for decoration. How many Iphone, Ipad pro and Apple Watch can Apple produce ?What were the sources of labor productivity growth in the U.S. economy during the sixty years since 1960? How did the 1960s differ from the more recent decades? During the sixty years since 1960, the sources of labor productivity growth include O A. plastics, the laser, and the computer during the 1960s, and the Internet during later years O B. the focus on saving energy during the 1970s O C. the wide-spread introduction of the Internet during the 1970s O D. the global financial turmoil of 2008-2009 that made labor more productive Comparing the 1960s to the more recent decades, labor productivity growth than in subsequent decades. O A. in the 1960s was approximately 25 percent higher O B. in the 1960s was smaller C. due to technological change was smaller in the 1960s O D. due to physical capital and human capital growth was greater in the 1960s Click to select your answer. MacBook A
- What is the likely effect on a country's labor productivity if there is significant investment in technology and employee training? A. Labor productivity will decrease. B. Labor productivity will remain unchanged. C. Labor productivity will increase. D. Labor productivity will first increase, then decrease over time.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?is the single most important source of productivity. O Current saving O Equity Technological advancements O Current consumption
