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Consider the continuous-time Solow model without technological progress and with constant rate of population growth equal to n. Suppose that the production function satisfies Assumptions 1 and 2. Assume that capital is owned by capitalists and labor is supplied by a different set of agents, the workers. Following a suggestion by Kaldor (1957), suppose that capitalists save a fraction sK of their income, while workers consume all of their income.
(a) Define and characterize the steady-state equilibrium of this economy and study its stability.
(b) What is the relationship between the steady-state capital-labor ratio k∗ and the golden rule capital stock k∗gold defined in Section 2.2.3?
Suppose that the demand for Federal funds curve is such that the quantity of funds demanded changes by $160billion for each 1 percent change in the Federal funds interest rate. Also, assume that the current Federal funds rate is at the 3 percent r..
The cost-versus-performance curves are exponential. Do you think this is representative of reality?
The Haverford Company is considering three types of plants to make a particular electronic device. Plant A is much more highly automated than Plant B, which in turn is more highly automated than Plant C. for each type of plant, average variable c..
assume also that to finance the purchase you borrowed $10000 from a local bank 9% compounded monthly over two years. the bank calculated your monthly payment at $456.85 Assume that average general inflation will run at 0.5% per month over the next..
data collected in the imaginary economy of Perturbia reveals that when the price of cham increased by 20%, the quantity of cham sold decreased by 30%, and the quantity of firm demanded increased by 15%.
Suppose that a risk-free investment will make three future payments of $100 in one year, $100 in two years, and $100in three years. If the Federal Reserve has set the risk-freeinterest rate at 8 percent, what is the proper current price of this in..
an economy is faced by the exhaustion of an important natural resource at a time when it is introducing improved technology.using a diagram how these events will affect the economy production possibility curve
what unemployment rates would we expect to see in this economy?b. Consider another economy in which the unemployment rate over the next three years is 6%, 7%, and then 4%. According to Okun's Law, what are the levels of short run output (Y tilde) ..
What is the appropriate fiscal and monetary policy mix?
price:1.75, 2.00, 3.00, 4.50, 5.00, 5.50. quantity: 55, 110, 165. mc=5.00/165, 3.00/110, 1.75/55. atc=5.00/165, 5.50/55. avc=2.00/55. demand=1.75/55. mr=2.00/55. How many DVDs should be sold to rent per day to maximize profit
John is considering bidding against Dave for an endorsement contract. He estimates it will cost $ 1 million to prepare the demo that must accompany the bid. The profitability of the contract depends on the bid price John submits. He could choose t..
Assume that the country is in a period of high unemployment, interest rates are at almost zero, inflation is about 2% per year, and GDP growth is less than 2% per year. Suggest how fiscal and monetary policy can move those numbers to an acceptable..
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