3.)Over the course of the 20th century, real GDP per capita inthe US rose mostly as a result of:

A.) Rising employment

B.)An increase in the averagehours of work.

C.) Rising population

D.)Rising productivity

4.) The production function exhibits:

A.)

Increasing returns to physical capital.

B.)

Constant returns to physical capital.

C.)

Diminishing returns to physical capital.

D.)

Negative returns to physical capital.

5.) In the production function, which of the following isrepresented by K/L:

A.)

Capital per worker.

B.)

Output per worker.

C.)

Technology.

D.)

Real GDP per capita.

6.)For a developed country, the most important driver ofproductivity growth is:

A.) Labor unions.

B.)

Technology.

C.)

The presence of natural resources.

D.)

Government programs for the quality of work.

 

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3 pages written in double space about the following subject from our reading(text that you purchased from the copy center).

You have to incorporate the following subject: The Aztec people, a) the Aztec Languages, their background, their history, culture, the patterns, the Aztec Empire, the History, the Cultural patterns(Government, tribute and trade, their economy, transportation, mythology and religion, the human sacrifice, social structures class structure, education, arts, city building and arquitecture, agriculture and their relationship to other meso- american culture and societies, their legacy, code, the conquerors, priests and scholars,.

From all these aspects of this civilization you have to write the most important aspects that you are considering to be the issues that they characterize this civilization that they came to be.

The most important is that you will be able to study in depth and analyze the core of this civilization and how they were able to succeed and governed for so many generations and also were able to leave a culture and work for all people to see the remaining of their work.

 

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3. Suppose Jack’s wage rate is $20 and that he can produce $10 per hour of household “goods”. Suppose Jill’s wage rate is $30 and that she can produce $15 per hour of household “goods”. Who should specialize in the market sector? Suppose now, Jack’s wage goes up to $25 per hour. How does this affect the answer? 4. Suppose the government grants $2500 per child to households that have more than 2 children. How would this affect fertility?

 

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3. Suppose that country I increases its willingness to trade at the same time that trading partner country II decreases its willingness to trade. What can be said about the resulting impact on the terms of trade and on the volume of trade? (Note: You will not be able to say anything concrete about one of these impacts. Why not?)

 

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