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Consider a Cobb-Douglas production function Y = AKα1-α Lwith α = 0.6 and A = 1.5. Assume thatthe savings rate is s = 0.04, the population growth rate is n = 0.02 and the depreciation rate is δ = 0.05.
1. Using the Solow-Swan model, compute the steady state values of k, y, and of consumption perperson c.
2. Find the level of s that maximizes c, and the corresponding steady state value of k.
3. Does the model allow for long-term growth?
4. Suppose the World Bank wants to help this country by either (i) directly increasing k, or (ii) by doubling A. How would each of these actions affect the steady state values of y and c and thetransition dynamics of k?
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How does rational expectations affect our perceptions concerning the speed or rate at which an economy moves back to potential. What does this say about the importance of supply shocks relative to demand shocks? Explain please.
You are in charge of accounts payable decisions for a large manufacturer. You have a supplier who offers cash discount terms of 2/10 net 45 on all purchases.
There are a lot of differences between US and China economies. Compared to the U.S. economy, the Chinese economy has which of the following? ----
The use of Native American mascots should not be banned. Over the last 10 years, many Native American tribes have pursued legal action against sports teams.
Does this mean there is no discrimination against Russians in the United States? If not, how could such discrimination be measured?
Suppose that the yield curve shows that the one year bond yield is 3 percent, the two year bond is 4 percent, and the three year yield is 5 percent. What are the expected one year interest rates next year and the following year? If the risk premiums ..
How do I create a graph or formula that allows me to understand reach of FOF when my fan base is at different levels between 50,000 and 500,000.
According to The Wall Street Journal, Mitsubishi Motors recently announced a major restructuring plan in an attempt to reverse declining global sales. Suppose that as part of the restructuring plan Mitsubishi conducts an analysis of how labor and cap..
A pro-life group wanted to test the effectiveness of an anti-abortion commercial. Two random samples, each of 250 respondents, were recruited in Atlanta. One group was shown the anti-abortion commercial. Then attitudes toward abortion were measured f..
In many cases, particularly instances of hyperinflation, we do not observe a stable demand for real money balances that is proportional to real output (i.e, MD/p≠LxY). Explain how we alter the simple monetary model to derive the general monetary mode..
Find firm's profit-maximizing price and quantity. Illustrate what is profit. firm's production manager claims that firm's average cost of production is minimized at an output of 40 units.
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