Marginal product of labor in the rc model

Assignment Help Business Economics

Reference no: EM137516

Q. (a) Show how to own equilibrium in a Robinson Crusoe model.

(b) What is the relationship between the marginal rate of substitution between leisure as well as labor as well as the marginal product of labor in the RC model?

(c) Clarify how a jump in technology changes the equilibrium in an RC model. How does this depend on the elasticity of demand as well as for consumption?

(d) Show how to construct a supply curve for labor.

(e) Show how an increase in non-labor income changes the supply curve for labor.

(f) Show how a proportional income tax changes the supply curve for labor.

(g) Clarify how to get the demand as well as curve for labor.

(h) Clarify how to determine output in an economy with a labor market.

(i) Clarify how to own the stationary state in a Solow model.

(j) Clarify how the economy behaves out of the stationary state in a Solow model.

(k) Should poor countries grow faster than rich in a Solow model? Ex- plain.

(l) Clarify how changes in

i. population growth rate

ii. Savings rate

iii. Technology growth rate change the stationary state in a Solow growth model.

(m) Which of Kaldoris facts does the Solow model Clarify? Clarify how.

(n) How can you get endogenous growth in a model with human capital?

(o) How can you get endogenous growth in a Solow type model?

(p) How as well as why are externalities important in an endogenous growth model?

Reference no: EM137516

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