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

Adam and Doug both build birdhouses.Adam works 30 hours a week and produces 15 bird houses.Doug works 20 hours a week and produces 12 bird houses.Which of the following is correct?

Scenario 25-1.An economy's production form takes the form Y = AF(L,K,H,N). -Refer to Scenario 25-1.If the production function has the constant-returns-to-scale property,then it is possible that the specific form of the production function is

Amy discovers a way to produce water heaters so they are less expensive and use less natural gas.Amy's discovery is

You and your friend work together for 4 hours to produce a total of 8 bookcases.What is productivity?

Gramp's Potato Chips produces 2560 bags of potato chips a day.Each employee at Gramp's works 8 hours.If the company's productivity is 20 bags per hour,how many people does Gramp's employ?

Suppose there are constant returns to scale.Now suppose that over time a country doubles its workers,its natural resources,its physical capital,and its human capital,but its technology is unchanged.Which of the following would double?

Dilbert's Incorporated produced 5,000,000 units of accounting software in 2010.At the start of 2011 the pointy-haired boss reduced total annual hours of employment from 10,000 to 8,000 and production was 4,800,000.These numbers indicate that productivity

In which of the following cases can we be certain that a natural resource has become scarcer?

In a market economy,we know that a resource has become scarcer when

Which of the following is a correct way to measure productivity?

Which of the following best illustrates the human capital of a survivor stranded on an island?

An economy's production function has the constant-returns-to-scale property.If the economy's labor force doubled and all other inputs stayed the same,then real GDP would

Which of the following statements about inputs is correct?

Suppose that in some country the price of silver increased from $30 per ounce to $31 per ounce during a time when the overall price level increased by 5 percent.During this period,the real price of silver

Your company discovers a better way to produce mousetraps,but your better methods are not apparent from the mousetraps themselves.Your knowledge of how to more efficiently produce mousetraps is

An understanding of the best ways to produce goods and services is called

Productivity is defined as the quantity of

Country A has a population of 1,000,of whom 800 work 8 hours a day to make 128,000 final goods.Country B has a population of 2,000,of whom 1,800 work 6 hours a day to make 270,000 final goods.

Which of the following best states economists' understanding of the facts concerning the relationship between natural resources and economic growth?

Ralph is a plumber.Which of the following are included in his human capital?