This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: One of the main production advantages of the steam engine was the flexibility of its location. ... (Read 124 times)

ENagel

  • Hero Member
  • *****
  • Posts: 540
on: Jun 30, 2018
One of the main production advantages of the steam engine was the flexibility of its location.
 
  Indicate whether the statement is true or false

Question 2

On the diagram above, show the quantity of consumption per worker in equilibrium.
 
  If the actual capital per worker were greater than k, would consumption be higher or lower than it is in equilibrium? Describe what would happen in an economy with such a high level of capital per worker.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

smrerig

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

When capital per worker is above its equilibrium value, output per worker is higher, so each worker has more to consume. Total saving/investment is higher, as well, but not enough to replace the capital lost to depreciation. As a result, capital per worker is falling, which brings output and consumption down to their equilibrium levels.


ENagel

  • Hero Member
  • *****
  • Posts: 540
Reply #2 on: Jun 30, 2018
Correct answers!


smrerig

  • Sr. Member
  • ****
  • Posts: 325
Reply #3 on: Jun 30, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Taking off is one of the main times albatrosses use flapping to fly, and is the most energetically d Taking off is one of the main times albatrosses use flapping to fly, and is the most energetically d
McBurney’s point is the common location of pain in children and adolescents with appendicitis. McBurney’s point is the common location of pain in children and adolescents with appendicitis.
A turbocharged Ford three-cylinder 1.0 liter Eco Boost engine. A turbocharged Ford three-cylinder 1.0 liter Eco Boost engine.
A dual turbocharger system installed on a small block Chevrolet V-8 engine. A dual turbocharger system installed on a small block Chevrolet V-8 engine.
Role of Factors of Production in Determining Growth, 1975–2009 Role of Factors of Production in Determining Growth, 1975–2009
Determination of the genotype of F2 plants by the production of F3 progeny Determination of the genotype of F2 plants by the production of F3 progeny
Video: Bone processes - resorption and deposition, remodeling and response to stress in adult bones

For a complete list of videos, visit our video library