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Question : 51) ________ in the United States  ________ in most European : 1228331

Economics

 

 

51) ________ in the United States  ________ in most European countries.

A) GDP per hour; is greater than GDP per hour

B) Average weekly hours; are greater than average weekly hours

C) The Okun Gap; is equal to the Okun Gap

D) The Lucas Wedge; is greater than the Lucas Wedge

E) Both A and B are true.

 

52) The gap in GDP between the United States and Europe can be explained by the fact that

A) U.S. labor is more productive than European labor.

B) prices are higher in the United States.

C) the Okun Gap is larger in the United States.

D) income taxes are higher in the United States.

E) equilibrium employment is higher in Europe.

53) Employing an additional 1 billion hours of labor increases real GDP by $12 billion. Employing another 1 billion hours beyond the first 1 billion increases real GDP by $11 billion. Hence we can conclude from this information that as employment increases, real GDP

A) increases at an increasing rate.

B) decreases at an increasing rate.

C) decreases at a decreasing rate.

D) increases at a decreasing rate.

E) falls from $12 billion to $11 trillion as more workers are hired.

 

54) If adding an initial 100 billion labor hours per year increases real GDP by $3 trillion, diminishing returns informs us that an additional 100 billion labor hours per year will increase real GDP by

A) exactly $3 trillion.

B) less than $3 trillion.

C) more than $3 trillion.

D) either exactly $3 trillion or by less than $3 trillion, depending on whether the real wage rate remains constant or rises.

E) some amount but there is not enough information to tell by how much.

 

 

55) The table above gives a nation’s production function. Which of the following is NOT an attainable combination of real GDP and labor?

A) Real GDP of $4.0 trillion and labor of 90 billion hours per year.

B) Real GDP of $4.7 trillion and labor of 110 billion hours per year.

C) Real GDP of $4.0 trillion and labor of 70 billion hours per year.

D) Real GDP of $5.2 trillion and labor of 90 billion hours per year.

E) Real GDP of $5.5 trillion and labor of 150 billion hours per year.

 

56) The above figure shows a nation’s production function. Point A is

A) attainable if the economy is inefficient.

B) unattainable given the state of the economy.

C) attainable if the nation uses resources efficiently.

D) the maximum amount of real GDP the nation can produce.

E) the labor market equilibrium quantity of employment and real GDP.

 

57) The above figure shows a nation’s production function. Point B is

A) unattainable.

B) attainable if the nation uses resources inefficiently.

C) attainable if the nation uses resources efficiently.

D) the maximum amount of real GDP the nation can ever produce.

E) Both answers C and D are correct.

 

58) The above figure shows a nation’s production function. Point C is

A) unattainable given the nation’s resource level.

B) attainable if the nation uses resources efficiently.

C) attainable if the nation uses resources inefficiently.

D) the maximum amount of real GDP the nation can produce.

E) the labor market equilibrium point.

59) The above figure that most accurately shows a production function is

A) Figure A.

B) Figure B.

C) Figure C.

D) Figure D.

E) Both Figure A and Figure B; Figure A for an economy with an excess of labor and Figure B for an economy with a shortage of labor.

 

60) Based on the production function in the above figure, which of the following is an attainable combination of labor and real GDP?

i.300 billion hours of labor and real GDP of $15 trillion

ii.300 billion hours of labor and real GDP of $6 trillion

iii.100 billion hours of labor and real GDP of $12 trillion

A) i only

B) ii only

C) iii only

D) ii and iii

E) i and ii

 

 

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July 1, 2023
    

In this assignment, you will consider what personality traits are seen in an effective leader and what skills are critical for effective leadership.

Using the South University Online Library or the Internet, research the early trait theory.

Based on your research and understanding, complete the following discussion:

  • Provide a definition of leadership. First, give a textbook definition and then your own personal definition.
  • List and describe the critical skills required of leaders.
  • Using the early trait theory, list and describe common traits of leaders and managers.
  • List and describe the various leadership styles. According to you, which of these leadership styles is the best? Why?
  • Think about a time in your life when you engaged in an effective leadership performance. The role could be personal or work-related, such as organizing your church's choir, coaching your son or daughter's soccer team, leading your work team through reorganization, and so on. Apply these leadership concepts and theories to the time you served as a leader and answer the following questions:
    • What was the situation?
    • Where and when did it happen?
    • Who was involved?
    • What were the results?
    • What was your role?
    • What leadership style did you employ?
    • What critical skills did you use or display that made you an effective leader?
    • What traits of a leader do you possess that helped make you effective?
  • Think about a time when you were a member of a group or team that was led by an ineffective leader. Apply the leadership concepts and theories to the ineffective leader and answer the following questions:
    • What was the situation?
    • Where and when did it happen?
    • Who was involved?
    • What were the results?
    • What was your role?
    • What leadership style did the leader employ? Do you believe it was the right style for the situation? Explain why or why not.
    • What critical skills did the leader lack that made him or her ineffective as a leader?
    • What traits did the leader lack that made him or her ineffective?
    • What could the leader have done in order for there to have been a more favorable outcome?
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July 1, 2023
    

In this assignment, you will consider what personality traits are seen in an effective leader and what skills are critical for effective leadership.

Using the South University Online Library or the Internet, research the early trait theory.

Based on your research and understanding, complete the following discussion:

  • Provide a definition of leadership. First, give a textbook definition and then your own personal definition.
  • List and describe the critical skills required of leaders.
  • Using the early trait theory, list and describe common traits of leaders and managers.
  • List and describe the various leadership styles. According to you, which of these leadership styles is the best? Why?
  • Think about a time in your life when you engaged in an effective leadership performance. The role could be personal or work-related, such as organizing your church's choir, coaching your son or daughter's soccer team, leading your work team through reorganization, and so on. Apply these leadership concepts and theories to the time you served as a leader and answer the following questions:
    • What was the situation?
    • Where and when did it happen?
    • Who was involved?
    • What were the results?
    • What was your role?
    • What leadership style did you employ?
    • What critical skills did you use or display that made you an effective leader?
    • What traits of a leader do you possess that helped make you effective?
  • Think about a time when you were a member of a group or team that was led by an ineffective leader. Apply the leadership concepts and theories to the ineffective leader and answer the following questions:
    • What was the situation?
    • Where and when did it happen?
    • Who was involved?
    • What were the results?
    • What was your role?
    • What leadership style did the leader employ? Do you believe it was the right style for the situation? Explain why or why not.
    • What critical skills did the leader lack that made him or her ineffective as a leader?
    • What traits did the leader lack that made him or her ineffective?
    • What could the leader have done in order for there to have been a more favorable outcome?
default image
July 1, 2023
    

In this assignment, you will consider what personality traits are seen in an effective leader and what skills are critical for effective leadership.

Using the South University Online Library or the Internet, research the early trait theory.

Based on your research and understanding, complete the following discussion:

  • Provide a definition of leadership. First, give a textbook definition and then your own personal definition.
  • List and describe the critical skills required of leaders.
  • Using the early trait theory, list and describe common traits of leaders and managers.
  • List and describe the various leadership styles. According to you, which of these leadership styles is the best? Why?
  • Think about a time in your life when you engaged in an effective leadership performance. The role could be personal or work-related, such as organizing your church's choir, coaching your son or daughter's soccer team, leading your work team through reorganization, and so on. Apply these leadership concepts and theories to the time you served as a leader and answer the following questions:
    • What was the situation?
    • Where and when did it happen?
    • Who was involved?
    • What were the results?
    • What was your role?
    • What leadership style did you employ?
    • What critical skills did you use or display that made you an effective leader?
    • What traits of a leader do you possess that helped make you effective?
  • Think about a time when you were a member of a group or team that was led by an ineffective leader. Apply the leadership concepts and theories to the ineffective leader and answer the following questions:
    • What was the situation?
    • Where and when did it happen?
    • Who was involved?
    • What were the results?
    • What was your role?
    • What leadership style did the leader employ? Do you believe it was the right style for the situation? Explain why or why not.
    • What critical skills did the leader lack that made him or her ineffective as a leader?
    • What traits did the leader lack that made him or her ineffective?
    • What could the leader have done in order for there to have been a more favorable outcome?
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