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Consider the neoclassical growth model with Cobb-Douglas technology y(t) = Ak(t)α (expressed in per capita terms) and log preferences. Characterize the equilibrium path of this economy, and show that as α → 1, the equilibrium path approaches that of the baseline AK economy. Interpret this result.
Suppose you obtain α^ and Var^(α^). Describe how to obtain the confidence interval at the 90% confidence level for α
The first operating expense was in July 2005, and the first replacement expense is in July 2009. If all money earns interest at 5% after the time of endowment, what amount would be available for capital replacements at the end of every fifth year ..
Suppose the market for cigarettes is characterized by the following information: Qd = 70 - 5P [Demand] Qs = 3P - 10 [Supply] Suppose the government imposes a sales tax of $2 per unit.
for an analysis of growth within or across countries the augmented solow model developed by mankiw et al 1992 is
Given a two period model and an inverse demand curve for a depletable resource is P= 10 - 0.2q and the Marginal Cost is constant and equal to 3. a)What is the static efficient level of consumption for the resource b)If the discount rate is zero
In the game above, how much does Labor earn if they can move first?
Find the equation describing the LM curve. Note that since I did not give you a specic P (and the LM curve is always drawn given a specic P), you will end up with an equation in three unknowns (Y,P,r).
Use the arc-approximation formula to calculate the price-elasticity of demand coefficient of a firm's product demand between the (quantity, price) points of (100, $20) and (300, $10). (b) Calculate the cross-price elasticity of demand coefficient ..
The average cost is AVC = 3500 - 6Q + 0.005Q square If the industry is competitive, estimate the shut-down price. If the market price is below shut-down, regardless of fixed costs, explain why the firm should shut down.
Which changes to fiscal stimulus package of 2009 for $862 billion (under the bill called American Recovery and Reinvestment Act of 2009) would have a larger overall impact on AD. Explain your answer in a paragraph or two with credible logics and a..
What percentage of the population of each country is in the labour force and what are the similarities and differences between the three countries in terms of the percentage of the population that works in each type of industry?
Which of the following statements about poverty rates is not true?
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