Question
Many economies have been experiencing supply shortage recently after COVID outbreak last year. It could be due to social distancing policy in workplace, or could
Many economies have been experiencing supply shortage recently after COVID outbreak last year. It could be due to social distancing policy in workplace, or could be due to the delayed return to job from workers' end.
This week's class discusses possible improvement of input productivity. Let's assume a typical two-input production function case, or q=f(k,l) with k and l for capital and labor respectively.
1) Do you think that more capital (i.e., robots, automation, technologies, etc.) will help increase labor productivity and overall production/supply level in the current labor shortage situation?
Briefly discuss your arguments with reasons or support.
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