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Assume two identical countries that only differ in their initial incomes. Which of the following statements is true when comparing the Solow growth model (Ch 7) and the endogenous growth model (Ch 8)?
A. They will never converge according to the Solow model but they would converge in the endogenous model.
B. Both models predict that they would never converge
C. They will never converge according to the endogenous model but they would converge in the Solow model.
D. Both models predict that they would converge in the long run
What are the benefits for a hospital to organize itself as a nonprofit, and do nonprofits make less money than for-profit hospital
Viennese artist Gustav Klimt's Portrait of Adele Bloch- Bauer was sold in New York for $135 million. Illustrate using supply and demand curve.
Compare and contrast the executive and congressional plans for reconstructing the Union. What was their objective? Which plan was better for the nation? Why?
Suppose the typical Florida resident has wealth of $500,000 of which his or her home is worth $100,000. Unfortunately Florida is infamous for its hurricanes, and it is belived there is a 10% change of a hurricane that could totally destroy a house (a..
Takashi has non-labor income from his investments of I = $60 per day, and can earn an hourly wage at his job of $20 per hour. Write a formula for Takashi’s budget constraint as a function of L (leisure hours) and C (consumption spending per day). Is ..
find a transformation of the data to be able to use the same data to estimate a model that satisfies the Gauss-Markov assumptions. be clear and explicit about the process. clearly explain why the transformed model meets the Gauss-markov assumptio..
Suppose that you are a manager in charge of setting prices for your company and you observe that your consumers respond to price changes inelastically. Define, using explicit terminology from class, what it means to have an inelastic response to a pr..
Joseph is granted $50 a week to spend: either on energy drinks at $2.50 each or on gasoline for his car at $4.00 per gallon. Draw Joseph's opportunity set. Label his feasible set. what is the trade-off (opportunity cost) of energy drinks in terms of ..
A company uses 20 work units and 30 units of capital to produce 4,000 units of product. In this combination the marginal product of labor is 50 and the marginal product of capital is 40. The price of labor is $ 30 and the price of capital is $ 20. Th..
The United States Census Bureau reported that household income dramatically increased in 2015. What would be the impacts on producer surplus?
A farmer wants to test the effectiveness of a pest control method in allowing strawberry blooms to yield marketable strawberries.
What statistics and linear algebra book do I need before reading Hayashi's Econometrics? Basics linear algebra book seems too simple for the linear algebra part, and Casealla's statistical inference is missing out detail/too basic for the statistical..
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