Which of the Following Can Help Explain the Technology Gap That Exists Between Some Countries?

Which of the Following Can Help Explain the Technology Gap That Exists Between Some Countries?

Similarly, Which of the following is a main conclusion about growth for OECD countries and the four rich countries examined in the chapter?

Which of the following is a major conclusion concerning growth for the OECD nations and the four wealthy countries studied in this chapter? The rate of growth has slowed. Which of the following best describes OECD nations’ economic development since the mid-1970s?

Also, it is asked, How does this affect the Appropriability and fertility of research R&D spending in the long run and output in the long run?

In the long term, increasing patent protection policy promotes appropriability, R&D expenditure, and productivity. It has a negative impact on fertility. Overprotection may also lead to a reduction in R&D investment.

Secondly, Which of the following will cause an increase in output per effective worker group of answer choices?

Which of the following will result in a higher production per efficient worker? a rise in the saving rate, a reduction in population growth, a reduction in the rate of depreciation, and a reduction in the pace of technological advancement

Also, Which of the following is the best reflection of changing living standards?

The market value of all completed products and services generated by a country’s permanent citizens, wherever they are located, in a year is known as the gross national product (GNP). The best representation of increasing living standards is growth in real GDP per capita.

People also ask, Which of the following are arguments against rapid economic growth?

Which of the following are counter-arguments against fast economic expansion? Pollution, global warming, and other environmental issues stem from rapid economic expansion. Poverty and homelessness are societal issues that have not been overcome by rapid economic progress.

Related Questions and Answers

How can we achieve economic growth and economic development?

Consumer spending and company investment are generally the driving forces behind economic development. Tax cuts and rebates are used to give money back to customers and encourage them to spend more. Deregulation loosens the laws that firms must follow and is credited with spurring development, but it may also lead to excessive risk-taking.

Which of the following is a reason why transforming Social Security from a pay as you go system to a fully funded system could raise consumption in the future?

The savings rate would rise as a result of the increased public saving that would result from moving to a fully financed Social Security system. This increase in saving would result in a greater accumulation of capital per worker. In the long term, this would enable the economy to achieve a greater level of production per worker.

What is the likely impact on the growth rate and the level of output per worker in the short run and in the long run quizlet?

What effect will it have on the pace of growth and the amount of production per worker in the medium and long term? In the near term, the production per worker grows at a slower pace. The growth rate reaches a new steady state with a permanently decreased growth rate in the long term.

What causes an increase in the steady state growth rate of output per worker?

A greater saving rate leads to a larger steady-state capital stock and higher production levels. A brief rise in the growth rate occurs when the output level shifts from a lower to a higher steady-state level. A larger saving rate, according to certain recent growth theories, may boost the pace of economic growth indefinitely.

How does an increase in saving rate affect economic growth?

Increased aggregate savings would result in greater investments and better GDP growth. As a consequence, the high savings rates enhance the quantity of capital in the nation, resulting in stronger economic development.

Which of the following gives the best indication of the growth of living standards?

GDP per capita is the most often used indicator of living standards. 2 The gross domestic product of a country is divided by its population. The GDP is the total production of goods and services generated within a country’s boundaries in a given year.

Which of the following represents the best indicator of improving living standards?

The Gross National Disposable Income is a better predictor of living standards. The Gross National Income (GNI) is frequently seen as the best indication of a country’s living standards, but it excludes unilateral transfers, such as remittances, which are among the greatest sources of income inflows to poor nations.

How can a nation improve its standard of living?

Explanation and Answer: The right answer is (b). A country’s economy must expand via innovation in order to increase its level of life.

Which of the following helps to promote economic growth?

More capital, more labor, and better utilization of existing capital or labor are three elements that may lead to economic development. Input growth refers to the growth that occurs as a consequence of increases in capital and labor.

What are the 4 main limitations of GDP accuracy?

GDP Restrictions GDP does not include any welfare indicators. Only market transactions are included in GDP. The distribution of income is not described by GDP. GDP isn’t a good indicator of what’s being created. Externalities are ignored by GDP. The Social Progress Index measures how much people have progressed in their lives

How does improved technology help the economy?

Technology is generally acknowledged in economics as the primary engine of economic development in nations, regions, and cities. Technological advancement enables more efficient production of more and better products and services, which is essential for prosperity.

How can students improve economic growth?

There are five things you can do to improve your local economy and community. 1) Buy local and support locally owned companies! 2) Use a local bank. 3) In-person swaps in your neighborhood – Recycle and reuse! 4) Directly hire individuals from the area. 5) Invest in entrepreneurs and small enterprises.

What kind of improvement can development bring in the nation?

1. The country’s economic, social, political, and cultural progress: 2. Increased output of goods and services.

Which step is the first one in social security process?

The first step is to do financial checks. On their own wage record, children may not be eligible for DI payments. In certain situations, kids may be eligible for SSI benefits on their own or as part of a family unit that includes their parent (s).

When we say that the Social Security tax is regressive we mean that?

When we say the Social Security tax is regressive, we’re referring to the fact that it takes the same percentage of income from both high- and low-income employees.

What would most likely happen if the government increased payroll taxes?

What would happen if the government decided to raise payroll taxes? Retirees will find that their benefits are less than they expected. Citizens would have to wait an inordinate amount of time to get their benefits.

Which of the following is a main conclusion about growth for OECD countries and the four rich countries examined in the chapter?

Which of the following is a major conclusion concerning growth for the OECD nations and the four wealthy countries studied in this chapter? The rate of growth has slowed. Which of the following best describes OECD nations’ economic development since the mid-1970s?

What condition on the price level and the expected price level was imposed in that derivation?

In that derivation, what condition on the current level and the predicted price level was imposed? The natural rate of unemployment is the rate at which the actual and projected price levels are equal. You just finished studying 86 terms!

When the economy experiences a recession there is usually?

Companies lay off people to save expenses, causing GDP to fall and unemployment rates to climb. Firms’ profit margins shrink during a recession on a microeconomic level. When revenue drops, whether through sales or investment, businesses try to eliminate inefficient processes.

Which factors would increase the aggregate production function?

Changes in the amount and quality of labor, technical breakthroughs, increases in salaries, increases in production costs, changes in producer taxes and subsidies, and changes in inflation may all contribute to a shift in aggregate supply.

What causes movement along aggregate production function?

Price level fluctuations drive movement along these curves, but shifts in these curves occur when another variable (other than the price level) influences demand for products and services.

How will technological advancement impact the steady state level of capital in the Solow growth model?

The Solow model is surprised by new technology and notices it. Constant growth, which we describe as a balanced growth path, is made possible by technology. This is due to the fact that technological advancements enable capital, production, consumption, and population to all rise at the same pace. Long-term growth is enabled by new technologies.

How does an increase in saving rate affect the steady state level of income and accordingly the steady state rate of growth?

A Shift in Savings Rates The steady-state capital/labor ratio k increases as s increases. As a result, per capita production in the steady state increases. The real interest rate is now lower in the steady state, and the real wage is greater.

What happens to the steady state level of an economy when saving rates increase?

Poor savings rates result in a limited steady-state capital stock and low steady-state production. Only in the short term can more saving contribute to quicker economic development. An rise in the savings rate boosts economic growth until the economy achieves a new equilibrium.

Conclusion

The “Technology Gap” is the difference in technology between two countries. It can be explained by economic theory and how it affects a country’s standard of living.

This Video Should Help:

The “Which of the following will cause an increase in the steady-state growth rate of capital?” is a question that can help explain the technology gap that exists between some countries. Reference: which of the following will cause an increase in the steady-state growth rate of capital?.

  • of the following, the most often used measure of changing living standards is
  • high growth in the rich countries from 1985 to 2014 was most likely due to
  • which of the following will increase the steady-state growth rate of total capital?
  • which of the following represents the fertility of research?
  • which of the following is always true after an economy reaches a balanced growth equilibrium?

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