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 110 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?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Focusing in on the location of photosynthesis in a plant. Focusing in on the location of photosynthesis in a plant.
Anterior and posterior views of the body illustrating the location of various body regions. Anterior and posterior views of the body illustrating the location of various body regions.
It is important for new employees to know the location of all fire extinguishers. (A) Pull the pin ... It is important for new employees to know the location of all fire extinguishers. (A) Pull the pin ...
The main avenue to the upward social mobility reviewed in the text has been higher education. The main avenue to the upward social mobility reviewed in the text has been higher education.
In a multiair engine design, the exhaust valves are opened by the exhaust camshaft lobes. Intake ... In a multiair engine design, the exhaust valves are opened by the exhaust camshaft lobes. Intake ...
A genetic map showing the location of revertible (point) mutants of the rll region A genetic map showing the location of revertible (point) mutants of the rll region
Video: Regulation of GFR: three methods, autoregulation & autoregulation via myogenic mechanism

For a complete list of videos, visit our video library