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Assume an economy without any technological progress. (5 points)
1. Using a Solow model with an alpha parameter of 0.5 determine the steady state amount of capital stock (K*), total output (Y*) and consumption (C*) when savings is 20%, population grows at a rate of 1% per year, and capital depreciates at a rate of 10% per year.
2. Repeat the exercise for a savings rate of 20% and depreciation rate of 10% but now assume that population grows at a rate of 4% per year. What do you observe as compared to your answers in part “a”? Are these results as expected? Explain
Research and development and the Level of Technology
A financial advisor for an oil company
LET X and Z be two independently distributed standard normal random variables. We defined another random variable Y=X^2+Z
Why can't all the balance of payments accounts be in surplus? What factors decide the demand for British pounds in foreign exchange markets? How are exchange rates determined under a flexible exchange rate system?
Assume that we have Ricardian equivalence. This implies that consumption depends on expected life- time incomes and that individuals understand the government's intertemporal budget restriction.
Explain: "without a market for pollution rights, dumping pollutants into the air or water is cost less; in the presence of the right to buy and sell pollution rights, dumping pollutants creates an opportunity cost for the polluter.
A combination of low prices with strong competition by foreign competitors and so-called "legacy costs" of unions are cited as the primary reasons why so many steel companies are filing for bankruptcy. In 2002, as Brownstown Steel Corp.
If we were to evaluate the "best-case scenario" from anefficiency standpoint of public-private partnerships, what would bea reasonable breakdown between private sector vs. public sectorspending for an increment of $1.
For the next several questions, refer to the table regarding Magazines and eBooks. Fill out the Marginal Utility column for magazines. What is the marginal utility of the 4th magazine? Fill out the Marginal Utility column for eBooks. What is the marg..
Determine whether a permanent increase in the size of the labor force and an improvement in technology, other things held constant, would lead to an increase, a decrease, or no change in long-run aggregate supply
3500 is deposited every year with 6 interest each year.38 equal deposits are made.how much money can be withdrawn in 20
Specifically, you should help Nick obtain key market insights through marketing research. In addition, you should help him to determine which countries besides the U.S. (the primary target market) should be targeted to make the most out of his new..
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