(Technological Change and Unemployment) What are some examples, other than those given in the chapter, of technological change that has caused unemployment? And what are some examples of new technologies that have created jobs? How do you think you might measure the net impact of technological change on overall employment and GDP in the United States?

(Technological Change and Unemployment) What are some examples, other than those given in the chapter, of technological change that has caused unemployment? And what are some examples of new technologies that have created jobs? How do you think you might measure the net impact of technological change on overall employment and GDP in the United States?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 24CTQ: Why do you think that GDP does not grow at a steady rate, but rather speeds up and slows down?

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Technological Change and Unemployment: What are some examples of technological changes that have caused unemployment And what are some examples of new technologies that have created jobs How do you think you might measure the net impact of technological change on overall employment and GDP in the United States?
QUESTION 26 The table below contains data for the country of Candyland. The base year is 2011. Year GDP Nominal GDP Deflator $2000 100 $3000 120 $3750 150 $6000 2011 2012 2013 2014 200 Refer to Table above. Which of the following is not correct? This economy experienced growth from 2011 to 2012 This economy experienced inflation from 2011 to 2012, from 2012 to 2013, and from 2013 to 2014 This economy experienced growth from 2012 to 2013 This economy experienced growth from 2013 to 2014
Question 10: Consider the following data on US GDP Year Nominal GDP GDP deflator (in billions of dollars) (base year 2009) 108.3 73.8 2014 17419 1994 7309 a. What was the growth rate of nominal GDP between 1994 and 2014? b. What was the growth rate of the GDP deflator between 1994 and 2014? c. What was real GDP in 1994 measured in 2009 prices? d. What was real GDP in 2014 measured in 2014 prices? e. What was the growth rate of real GDP between 1994 and 2014? f. Was the growth rate of nominal GDP higher or lower than the growth rate of real GDP? Explain.
Part 1) In 2020, the country produced 16 machinery and 40 services. In 2020, the machinery price was Pm_2020 = 90, and of services, Ps_2020 = 44. In 2019, the machinery price was Pm_2019 = 72, and of services Ps_2019 = 39. -Calculate the nominal GDP of 2020. -The GDP of 2019 was 2607, and the country made 14 machinery. Find how many services the country produced.
(21) Carla just started her new job working at the Department of Commerce. In order to see whether Carla “knows her stuff,” her boss asks her to put together a presentation on the current state of the economy. What economic indicators should Carla look at? Select one: a. The unemployment rate, business profits, and auto sales. b. The growth rate of real GDP, employment in the steel industry, and Oil prices. c. The inflation rate, the unemployment rate, and the growth rate of real GDP. d. The inflation rate, the unemployment rate in Georgia, and mortage interest rates in Texas. (22) Price ceilings typically result in ________. Select one: a. shortages b. price equilibrium c. excess supply
Question 39 The difference between the measurement of nominal GDP and real GDP is Nominal GDP is measured by current year's prices times current year's quantities; Real GDP is measured by base year's prices times current year's quantities. Nominal GDP is measured by current year's prices times current year's quantities; Real GDP is measured by base year's prices times base year's quantities. Nominal GDP is measured by base year's prices times current year's quantities; Real GDP is measured by current year's prices times base year's quantities. O Nominal GDP is measured by base year's prices times current year's quantities; Real GDP is measured by base year's prices times base year's quantities.
Subject: Business economics Problem # 5): Suppose that a simple economy produces only the following four goods andservices: shoes,hamburgers, shirts, and cotton. Further, assume that all of the cotton is used in the production of shirts. Use the information in the following table to calculate Nominal Gross Domestic Product (Nominal GDP) for 2015. PRODUCTION AND PRICE STATISTICS FOR 2015 Product Quantity Price Shoes 100 60 Hamburgers 100 2 Shirts 50 25 Cotton 8000 0.6
Why do you think that GDP does not grow at a steady rate, but rather speeds up and slows down?
Why do you suppose that U.S. GDP is so much higher today than 50 or 100 years ago?
Question 34 If Volkswagen (a German-based firm) produces a car in Tennessee and exports it to Mexico, in which country's GDP will the car be counted? Germany's, because Volkswagen is a German company Mexico, because that is where the car is purchased O The United States, because that's where it was built O Both Mexico and the United States
The economy of Tuland produces only two products fish and watches. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2009 2010 Quantity of fish Quantity of watches Price of fish 120 126 60 75 $10.00 $30.00 Using the above information, calculate the following values. (Enter your responses rounded to two decimal places.) $11,50 Price of watches $33.00 GDP for 2009 in 2009's prices GDP for 2009 in 2010's prices GDP for 2010 in 2009's prices $4 GDP for 2010 in 2010's prices 2$ Using 2009 as the base year, compute the percentage change in the price level, i.e. the inflation rate. hint: you need to compute the GDP deflator first. Using 2010 as the base year, compute the percentage change GDP deflator first. the price level, i.e. the inflation rate. hint: you need to compute the % The geometric average of the two inflation rates %
(5/In the economy of Pizzania (from Problem 4), bread and cheese produced are sold both to the pizza company for inputs in the production of pizzas and to consumers as final goods. The accompanying table summarizes the activities of the three companies. Bread Cheese Pizza company company company Cost of inputs $0 $0 $50 (bread) 35 (cheese) Wages 25 30 75 Value of output 100 60 200 a. Calculate GDP as the value added in production. b. Calculate GDP as spending on final goods and services. c. Calculate GDP as factor income.