Exam 12: Production and Growth: Productivity Its Role and Determinants

Nathan owns a bakery that bakes only cakes.All of his bakers work 8 hours per day.In 2011,he employed 5 bakers who produced a total of 200 cakes each day.In 2012,he employed 6 bakers who produced a total of 249 cakes each day.The bakery's productivity

Human capital

The equipment and structures available to produce goods and services are called

Human capital is the

Last year a country had 800 workers who worked an average of 8 hours and produced 12,800 units.This year the same country had 1000 workers who worked an average of 8 hours and produced 14,000 units.This country's productivity was

If your firm's production function has constant returns to scale and you increase all your inputs by 60%,then your firm's output will

Which of the following statements is true?

If a good has become more scarce,then we know for sure that

Given that a country's real output has increased,in which of the following cases can we be sure that its productivity also has increased?

Country A has twice as many workers as Country B.Country A also has twice as much physical capital,twice as much human capital,and access to twice as many natural resources as Country B.Assuming constant-returns to scale,which of the following is higher in Country A?

A professor at a university finds a way to reduce the costs of producing automobile glass.The method is very easy for anyone to copy.A company develops a substance which prevents eyeglasses from smudging.It receives a patent on the formula.Which of these are common technological knowledge?

Greg's Ice Cream produces 1120 gallons of ice cream per day.Each employed works seven hours and has productivity of 20 gallons an hour.How many employees does Greg's employ?

Miller's Dairy produces 960 gallons of milk per day.Each milker at the dairy works 8 hours per day and produces the same number of gallons of milk per hour.If the Dairy's productivity is 12 gallons of milk per hour of labor,then how many milkers does the shop employ?

Last year the imaginary country of Basova had a population of 10,000,6,000 people worked 8 hours a day,and produced a real GDP of $30,000,000.The imaginary country of Andovia had a population of 12,000,8,000 people worked 8 hours a day,and produced a real GDP of $38,000,000.Which of the following is correct?

Which of the following items plays a role in determining productivity?

Upland has a population of 15,000,of whom 9,000 work 8 hours a day to produce real output of $342,000.Lowland has a population of 8,000,of whom 7,000 work 7 hours a day to produce real output of $171,500.

Technological knowledge

Proprietary technology is technology that is

Which of the following statements is correct?

Proprietary technology is technology