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(a) Show that in the model in Section 18.3.2, if population grows at some constant rate n > 0 in each country, there does not exist a steady-state equilibrium.
(b) Construct a variation of this model along the lines of the semi-endogenous growth models of Section 13.3 in Chapter 13, where the strong scale effect is removed and there is long-run growth at a constant rate (when population grows at the rate n > 0 in each country).
(c) Provide a full characterization of the steady-state world equilibrium in the case described in part b.
Alvin wants tostart college and have $12,000 available to buy a used car when he graduates in 4 years. Alvin wants to buy a new computer, software, and peripherals now, and he earns nominal interest rate 3% compounded yearly.
Wildcat Co. has to decide whether or not to drill an oil well. It has $100 current income. Drilling would cost $100; if oil were struck, the company would receive $200 for the oil. If the field is dry, nothing is recovered.
First bank has total deposits of $2,000,000 legal reserves of $220,000. If the reserve requirement is 10 percent, what is the maximum loan that First bank can make, and what is the maximum increase in the money supply.
One of these is the Standard model, while the other is the Deluxe model. The profit per unit on the Standard model is $60, while the profit per unit on the Deluxe model is $40. The Standard model requires 20 minutes of assembly time
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What would you say to someone whose beliefs are unfounded and possibly dangerous to their health?
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What is the Marginal cost of one more passenger on a 1,200 mile flight if there are between 250-300 passengers. If the number of passengers is 300 and the flight is between 1,200 and 2,500 miles, what is the marginal cost of flying an additional mi..
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