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Q. Suppose that we modify the Solow growth model by allowing long-run technological progress. That is, suppose that z = 1 for convenience, and that there is labor-augmenting technological progress, with a production function Y= F(K,bN), where b denotes the number of units of "human capital" per worker, and bN is "efficiency units" of labour. Charter b' denote future human capital per worker, assume that b' = (1 + j) b, where fist he 12. Growth rate in human capital.
Show that the long run equilibrium has the property that k** = ~ is a constant. Illustrate the rate that does aggregate output, aggregate investment, aggregate consumption as well as per- capita income grow in this steady state, Explain?
An intraocular lens manufacturing is in the qualification process of a polishing machine.
If your employees are self-interested, how much output would you expect each individual worker to produce absent monitoring.
Describe how each of these activities affects government households as well as businesses.
What price are individuals with $5,000 in the bank willing to pay for the insurance. Will those with $5,000 in the bank voluntarily purchase insurance.
As before pleasing the job, you admit a surprise offer from a competitor. Elucidate how much producer surplus have you earned, if you actually earn $2600 during the month.
If Sammy refuses to contribute to the butterfly garden, he'll not be able to enjoy its benefits if it is built.
Now? suppose? that? the ?first ?firm? has? a ?capacity ?of ?2 ?and? the? second? firm? has ?a ?capacity ?of ?4.
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The law of demand states that other things equal
The cost leadership approach implicates competing by having a lower cost than one's competitors
Illustrate how much will they have accumulated principal plus interest when they reach 65 years old. What is the moral of this situation.
The US government could not pass its annual budget. As a result, the US government has partially shut-down: roughly about 800000 federal employees of non-essential services are out of work
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