Information technology was widely introduced in the economy at the same time the expansion rate the labor performance slowed down. A feasible explanation for this is that
advances in modern technology and increases in physical resources have an ext than counter the impacts of a increasing population.
You are watching: Diminishing returns to physical capital suggests that:
it can proceed in the face of minimal natural resources and also the impact of expansion on the environment.
All the the statements regarding the relationship between economic growth and the setting are true EXCEPT:
Most economic experts agree that it is impossible to continue long-run financial growthwhile taking actions to protect the environment.
Economists usage ________ to estimate the donation of each major factor in the aggregate production role to economic growth.
Other things equal, a ________ quantity of physical capital per worker leads to ________ genuine GDP per worker, and each successive enhancement to physical resources per worker produces a ________ increase in productivity.
Holding an innovation and human capital constant, you would suppose that a farm worker who is operating a $100,000 harvesting maker to be just how much an ext productive 보다 a farm yard worker that is operating a $50,000 machine?
You would expect the farm yard worker utilizing the an ext costly maker to be more productive, yet not double as productive.
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Increasing a country"s herbal resources should ____________ output, and also the impact of this variable should be thought about a ____________ important resource of productivity expansion than human capital.
Real GDP in the country of Esperano has grown at 4% per year because that the last 30 years. The labor pressure has grown at 1% every year, and the amount of physical capital has grown in ~ 5% per year. A 1% boost in median physical capital per worker (all other things being equal) raises performance by 0.5%. Average education and learning has no changed. Just how much has cultivation physical capital per worker added to efficiency growth?
Real GDP in the nation of Esperano has grown at 4%per year because that the critical 30 years. The labor pressure has grown at 1% every year, and also the amount of physical capital has grown at 5% per year. A 1% rise in median physical capital per worker (all other things being equal) raises efficiency by 0.5%. Average education has not changed. How much has productivity grown?