Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Suppose that this year the working population is 20 million workers and the number of workers grows by 8% per year. If the current level of capital in the economy is equal to 140 million, the production function is constant-returns-to-scale, and there is no depreciation of capital, how much capital do we need next year in order to increase labor productivity, all else equal?

a) 148.0 million

b) 160.0 million

c) 151.2 million

d) Not enough information.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91721203

Have any Question?


Related Questions in Business Economics

A fair coin is flipped 3 times the toss results are

A fair coin is flipped 3 times. The toss results are recorded on separate slips of paper (writing "H" if Heads and "T" if Tails), and the 3 slips of paper are thrown into a hat. a) Find the probability that all 3 tosses ...

In the following five scenarios h0 alpha the obtained

In the following five scenarios, H0, α, the obtained probability (p-value), and the true status of H0 are given. Assume that our test statistic follows a standard normal distribution. Do the following: (a) State whether ...

Who developed a theory of distribution within capitalism

Who developed a theory of distribution within capitalism? What is the basic assumption of classical theory? What is the basic assumption if Marxian Theory? What are the classical theory's views on individual choices and ...

If all congressional representatives were elected at the

If all congressional representatives were elected at the state level rather than from particular districts, explain whether there would be more protectionism or less protectionism. Why? Explain your answer.

Why are many business and data series only presented in

Why are many business and data series only presented in seasonally adjusted data?

Under what circumstances would lras and sras have the same

Under what circumstances would LRAS and SRAS have the same slope?

Not sure where im going wrong on this one any help is

Not sure where I'm going wrong on this one. Any help is appreciated. The following information relates to RAM Corporation: Accounts receivable                     $160,000 Total credit sales                        $2,500 ...

In an inquiry into the nature and causes of the wealth of

In an inquiry into the nature and causes of the wealth of nations, Adam Smith listed three reasons for productivity to increase with specialization. What are these three reasons?

The newly elected president needs to decide the remaining 4

The newly elected president needs to decide the remaining 4 spots available in the cabinet he/she is appointing. If there are 13 eligible candidates for these positions (where rank matters), how many different ways can t ...

1 dominos pizza is willing is willing to pay kes 250 in

1. Domino's pizza is willing is willing to pay Kes 250 in airtime to each person interviewed about his or likes and dislikes of types of pizza crust. Of the people interviewed, 220 liked a thin crust, 270 like a thick cr ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As