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Consider the Solow Growth Model with technology given by Y = zF(K, N) = zK^(1/2)N^(1/2) , savings rate= 0.2, and depreciation rate=0.1. Both population growth and technological growth are 0. (Note: lower case letters denote per capita variables e.g. y=Y/N). (a)What are the steady state values of k, y, c and i ? (b) What are the values of k and y if the economy operates at the "Golden Rule" level of capital accumulation? (c) Imagine that you want to "drive" this country in the "Golden Rule" levels of k and y. What is the saving rate that you have to impose? What would be the level of c? (d) Assuming that you impose the new saving rate. What would be the immediate and long run effects on c, k, and y? Draw the path of these variables.
Explain the aspects of expansionary and contractionary fiscal policy. During which phases of the business cycle would each be appropriate?
Compare an owner's personal liability for debts of a business organized as a sole proprietorship, general partnership, limited partnership, LLP, LLC, and S corporation.
With some services, e.g., checking accounts, phone service, or pay TV, consumers choose between two or more payment plans. One can either pay a high entry fee and get a low price per unit of the service or pay a low entry fee and a high price per uni..
Find the equilibrium quantity and equilibrium price for the commodity whose supply and demand functions are given.
A tariff is a tax on imports. Use the model of the excise tax to explain why domestic firms ask their government to "protect" them with a tariff. Consider the winners and losers from the tariff. Why do economists tend to think that tariffs are a bad ..
Is the Government becoming too involved in Individual decisions? Do you object to mandatory determinations by government on the distribution of vaccines, regulation of air and water pollution or should the free market ensure equitable distribution..
Select an asset of your choice. For example you may select an appliance in your home, office, or in another place that have been in use for many years and you are thinking is time to replace it by a new one. After selecting the defender equipment and..
Assume increase in government spending. Would the effect on AD be larger if the Fed held MS constant in response or if the Fed were committed to maintaining a fixed interest rate?
Elucidate how much should Joseph's income increase to compensate for the rise in the prices of roses.
If one draws MC curves pre and post innovation as well as the Marginal Revenue line for a monopoly and the MR in a competitive situation.
What factor(s) in demographic segment can have significant impact on U.S. restaurant industry? How does each of these factors shape the growth and changes of the industry? What are the future trend of each factor and the resulting changes of the indu..
Suppose that you own a golf course that is part of a Florida resort. You primarily serve two groups of people: local residents and tourists. Devise a price discrimination strategy that will increase your revenues compared to a single-pricing strategy..
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