All of the following are sources of increasing returns and economies of scale except: Improvements in technology are considered a demand factor in economic growth. They are all available to a big manu­facturer. The law of increasing returns generally applies to manufacturing industries. He teaches at the Richard Ivey School of Business and serves as a research fellow at the Lawrence National Centre for Policy and Management. Proponents of economic growth claim that growth leads to greater equality of income in an economy. Download our app to study better. By using the m multiplier and simple algebra, we can quickly solve economic scale … Other things equal, which of the following would increase the rate of economic growth, as measured by changes in real GDP?
? We have already discussed the economies of large-scale production. `oduction possibilities curve for an economy is at CD but the economy is operating at point X, the reasons are most likely to be because of` public capital goods such as highways and sanitation systems. Tend to exceed those in leader countries because followers can cheaply adopt the new technologies that leaders developed at relatively high costs One hypothesis for declining productivity growth rates since the Great Recession is that individuals and firms have focused more on paying off debt than on making productive investments. was greater between 1995 and 2010 than between 1973 and 1995 An outward shift of a nation's production possibilities curve Provided financing for the industrial expansion of businessb. Economies of scale can be both internal and external. To signup with Google, please enable popups Anytime, anywhere. ThoughtCo uses cookies to provide you with a great user experience. All of the following are sources of increasing returns and economies of scale except: Suppose that an economy's labor productivity and total worker-hours each grew by 3% between year 1 and year 2. Economies of scale occur when a company’s production increases, leading to lower fixed costs.

Increased significantly and made labor more productiveRising real wages for women in the U.S. workforce since the 1960s have:b. less time for ordinary people to enjoy leisure activities because the primary focus is on production and work We could conclude that this economy's:
By using ThoughtCo, you accept our Suppose that an economy is initially operating at a point on its PPC. ensures a nation neither of an increase in real GDP nor of an increase in real GDP per capita all of these could be sources of economies of scale except a) specialization b) discounts on bulk purchase of inputs c)bottleneck procedure d) increasing marginal productivity holding other factors constant, if bad weather destroys the annual crop of carrots, it causes the supply curve for carrots to

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