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Why were mercantalist thinkers concerned with the acquisition of specie as opposed to overall productive capacity?
Mercantilist thinkers believed that a nation's wealth and power were directly tied to the amount of precious metals (specie) it possessed. They thought that a positive balance of trade, where a nation exported more than it imported, would lead to an influx of specie and increased prosperity. This focus on accumulating specie overshadowed the importance of overall productive capacity in their economic theories.
What else can I help you with?
What is economic slack?
The unused portion of the economic productive capacity.
What is managerial capacity?
ability of management to manage effictively productive resources of firm
What is the maximum output that the economy can sustain over a period of time called?
productive capacity
What is called the power to produce or provided?
The ability to produce goods or services is known as productive capacity.
What factors led the US to become a superpower?
After World War II, the productive capacity and technological advances gave the US a distinct advantage. It was not ravaged by the war and its infrastructure was intact.
When the productive capacity of the economic system of a state is inadequate to create sufficient number of jobs it is called?
cyclical unemployment
What is productive capacity?
Volume of products that can be generated by a production plant or enterprise in a given period by using current resources.
Using barely recognizable syllables to communicate meaning best illustrates a 12-month-old's developing capacity for?
productive language
What causes a High level of productive capacity?
High levels of productive capacity can be caused by efficient production processes, technology adoption, skilled workforce, adequate infrastructure, access to capital, and effective management practices. When these factors are optimized, businesses can produce more goods and services in a given period, leading to higher productivity levels.
How do you calculate capacity factor?
Capacity utilization factor is a concept which refers to the extent to which an enterprise or a nation or an unit actually uses its installed productive capacity. Thus, it refers to the relationship between actual output that 'is' produced with the installed equipment and the potential output which 'could' be produced with it, if capacity was fully used.
Why investment increases?
increase in investment will expand the productive capacity of the economy
An inflationary gap exists when AD and SRAS do what?
It exists when the AD exceeds the productive capacity of an economy (LRAS). The amount is the difference between the current level of income and the income at full capacity, if the economy is producing over full employment.
