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Show how to find equilibrium in an rc model

Assignment Help Macroeconomics
Reference no: EM1321409 , Length: 1750 Words

Give answers for below questions in detail....

       (a) Show how to find equilibrium in an RC model (graphically and/or analytically)

.      (b)  What is the relationship between the marginal rate of substitution between leisure and labor and the marginal product of labor in the RC model.

.      (c)  Explain how a jump in technology changes the equilibrium in an RC model. How does this depend on the elasticity of demand 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)  Explain how to get the demand curve for labor.

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

.      (i)  Explain how to find the stationary state in a Solow model.

.      (j)  Explain 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)  Explain 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 Kaldor's facts does the Solow model explain? Explain 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 and why are externalities important in an endogenous growth model?

Reference no: EM1321409

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