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(Productivity) As discussed in the text, per capita GDP in many developing countries depends on the productivity of land there. However, many richer economies have little land or land of poor quality. How can a country with little land or unproductive land become rich?
Suppose xt = (1:05)t and yt = (1:02)t. Calculate the growth rate of zt in each of the following cases: a) z = xy b) z = x=y c) z = y=x d) z = x^1/2 y^1/2
Complete the following table, where L is units of labor, Q is units of output, and MP is the marginal product of labor.a. At what level of labor input do the marginal returns to labor begin to diminish b. What is the average variable cost when Q = 2..
the short-run price elasticity of demand for tires is 0.9. If an increase in the price of petroleum (used in producing tires) causes the market prices of tires to rise from $50 to $60, by what percentage would you expect the quantity of tires dem..
What is the equilibrium solution to the game if governments formulate policy in this way? Would they ever choose the strategy of protectionism?
What does the coefficient on smkban suggest and Estimate the probability of smoking by using smoking ban as your independent variable.
What is the socially optimal level of automobile tire production? What is the total net loss to society from the production of tires 49 through 60?
Draw in the resulting equilibria or tangencies and join up all of these points. You have just constructed a price-consumption curve for good X. Can you understand why the curve is so called?
A doctor earns $250,000 per year, while aprofessor earns $40,000. They play tennis against eachother each Saturday morning, each giving up a morning ofrelaxing, reading the paper, and playing with their children.
The price at point a is $70 and the price at point c is $10 per bag. The price at point d is $40 and the price at point e is $20 per bag. The price at point f is $32 and the price at point g is $4 per bag. Apply the formula for the area of a trian..
A firm has $500,000 per year to pay for replacing machinery over the next 10 years. What is the expected cost in Year 1 if the firm has projected that the machinery cost will increase by $15,000 per year The interest rate is 10% per year.
Check the Federal Reserve Board's semiannual monetary policy reports to the Congress (www.federalreserve.gov/boarddocs/hh).
Other managers worried about the assumptions in the analysis that support the investment-an increase in the number of mortgages processed and a reduction in processing costs. What if the mortgage market did not grow as expected?
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