Could romers production function

Reference no: EM133287163

Case: The economist Paul Romer argues the aggregate production function for the United States would be better written as Y = K ^ alpha * L ^ beta where a has a value between 0.7 and 1.0 and has a value between 0.1 and 0.3.

(a) In class we discussed the productivity slowdown the U.S. economy has experienced since the early 1970s. Could Romer's production function explain this productivity slowdown? Please clearly explain.

(b) Do you think the values for would be larger or lower in developed countries compared to developing countries? Please explain.

Reference no: EM133287163

Questions Cloud

How do osteocytes in dense bone get nutrients in-waste outs : How do osteocytes in dense bone get nutrients in and waste outs? Canalicula, lacuna,central canal, and diffusion.

Create a budget for a financial plan : Create a budget for a financial plan using Microsoft Excel, ensuring that the information is organized, accurate, and complete

Summarise the article - elon musk purchase of twitter : Find an article involving one of the following current event issues. Elon Musk's purchase of twitter International Oil/Gas crisis involving Russia, USA

Creating a blog post for your organization website : For this assignment you will be creating a blog post for your organization's website that outlines the steps of the Marketing strategy process

Could romers production function : Could Romers production function explain this productivity slowdown and Do you think the values for would be larger or lower in developed countries compared

Effects of the autonomic nervous system on digestion : Read a book or newspaper, or watch television after a meal? Respond in terms of the effects of the autonomic nervous system on digestion.

What is variable cost : ECONOMICS 201 University Of Chicago What is marginal cost? Please explain to me with easy words and What is variable cost

How did competition react to the release of crystal pepsi : Read the product strategy case study, How Crystal Pepsi Became the Soda World's Greatest Fail. How did the competition react to the release of Crystal Pepsi

What are some of advantages of interpreting a photograph : What are some of the advantages of interpreting a photograph rather than observing sketches such as those that you made on the first page?

User Account

All Pages