Long run effects of one-time increase in stock of labor

Assignment Help Business Economics
Reference no: EM131244592

What are the short run and long run effects of a one-time increase in the stock of labor (because of, for example, a particularly large cohort of college graduates joining the labor force)? Use the Solow model with g=0 and n>0 to answer this question.

Reference no: EM131244592

Questions Cloud

Based on the solow growth model : Income per person exceeds $25,000 in many countries, but it is below $1,000 per person in many other countries. Based on the Solow growth model, suggest at least four possible explanations for this gap in living standards.
Compare the steady-state levels of output per worker : Consider two countries that are otherwise identical (have the same saving rates and depreciation rates), but the population of Country Large is 100 million, while the population of Country Small is 10 million. Use the Solow model with no technologica..
Broad empirical regularities associated with growth : What are the broad empirical regularities associated with growth and development that modern theories of economic growth attempt to explain? Enumerate and describe briefly.
Permanent increase in the rate of technological progress : Suppose that manna from heaven falls faster and there is a one-time permanent increase in the rate of technological progress, so g rises to g’. What does this imply for the growth rate of output per worker over time? Explain in analytical and graphic..
Long run effects of one-time increase in stock of labor : What are the short run and long run effects of a one-time increase in the stock of labor (because of, for example, a particularly large cohort of college graduates joining the labor force)?
Fiscal policy such as increase in investment taxes : When the investment rate in a country decreases permanently (as a result of discouraging fiscal policy such as an increase in investment taxes, for example), does it impact the level or the growth rate of output per worker? Explain briefly what happe..
Substitutes in production-pure complements in production : Use the concept of (a) substitutes in production versus pure complements in production and (b) gross substitutes versus gross compliments to asses the likely impact of the rapid decline in the price of computers and relate office equipment on the lab..
Professional brand consistent across social : Describe the role that networking can play in your professional life. Explain what you’re doing to keep your “professional brand” consistent across social and professional platforms.
Monopoly in the browser market : Why was Microsoft willing to spend billions of dollars to fight antitrust suits? The case mentioned in the article on Blackboard was finally settled in 2002 with the final outcome in 2011. What eventually happened to Netscape and Java? Hint: You will..

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd