Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1, 10.1 Study Exercise 5 HW Score: 50%, 2.5 of 5 points Part 2 of 3 Points: 0.5 of 1 Save In this chapter

image text in transcribed

image text in transcribed
Question 1, 10.1 Study Exercise 5 HW Score: 50%, 2.5 of 5 points Part 2 of 3 Points: 0.5 of 1 Save In this chapter we discussed four major determinants of growth in real output: increases in the labour force; increases in the stock of physical capital; increases in human capital; and improvements in technology. a. For each of the four determinants, choose an example of a government policy that is likely to increase growth. Determinants of growth An example of a government policy Improvements in technology. A policy to subsidize R&D activities Increases in the labour force. A reduction in unemployment insurance benefits Increases in human capital A policy to subsidize occupation-specific training Increases in the stock of physical capital Reduced corporate taxation b. Discuss the likely cost associated with each policy. The likely cost of the is a reduction in the average quality of firm-worker matches. The other three policies involve the spending of real resources, and thus involve

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistical Techniques In Business And Economics

Authors: Douglas Lind, William Marchal, Samuel Wathen

14th Edition

0077309421, 978-0077309428

More Books

Students also viewed these Economics questions

Question

What is work-in-progress?

Answered: 1 week ago

Question

3. To retrieve information from memory.

Answered: 1 week ago

Question

2. Value-oriented information and

Answered: 1 week ago

Question

1. Empirical or factual information,

Answered: 1 week ago