Macroeconomics
What is the definition of productivity in an economic context?
Why is continuous technological innovation necessary for developed countries?
A factory uses machines to produce cars. How does this illustrate the role of physical capital in enhancing productivity?
Why might a developing country experience faster economic growth than a developed country?
What does the shape of the per-worker production function curve indicate?
How does the introduction of new technology affect the per-worker production function?
What happens to the per-worker production function when new technology is introduced?
Consider a country that has recently adopted advanced agricultural technology. What is the likely impact on its agricultural productivity?
What is meant by 'diminishing returns to capital'?
A company adopts a new software that automates data entry. What is the likely impact on productivity?
