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Country A has the production function: Y=F(K,L)=K^(1/2)L^(1/2) a. What is the per-worker production function y=f(k)? b. Assume that country A experiences no population growth or technological progress and that 10 percent of capital depreciates each year. Using the steady-state condition that investment equals depreciation, find the steady-state capital stock k* as a function of the saving rate. c. Find the Golden Rule steady-state capital stock k*gold and the Golden Rule level of consumption (c*gold) d. To achieve the Golden Rule steady state, what is the saving rate s(gold) the policymaker should set?
As an economist working at the International Monetary Fund, you are given the following data for South Africa: predicted per capita GDP, relative to the United States, as given by y=k^1/3, is 0.55, and total factor productivity is 0.33. What is the o..
q1. within which sections of the production function is marginal product increasing?q2. explicate the link between
Elucidate how much does the gardener receive. How much does the customer pay. How much does the government receive as tax revenue.
Illustrate what would the benefits of each action be (besides emissions reduction). Illustrate what would the costs of each action be.
Which of the following is not a reason monopolies exist?
In the United States, what has been the traditional policy for curbing the market power of natural monopolies such as utilities?
Able Plastics, an injection-molding firm, has negotiated a contract with a national chain of department stores. Plastic pencil boxes are to be produced for a 2-year period. Able Plastics has never produced the item before and requires all new dies. I..
Suppose we are analyzing the market for hot chocolate. Graphically illustrate the impact that each of the following would have on demand or supply. Please also show how equilibrium price and equilibrium quantity would change.
With the help of a diagram show how home will benefit from trade according to the Ricardian Model. In your diagram, clearly mark the point of production and consumption before and after trade; mark the amount of import or export.
You are considering purchasing a savings bond that will pay $100 in five years. The market interest rate currently is 3% per year. What should you be willing to pay to purchase this bond today? Suppose the interest rate goes up next year, to 4% per y..
A major electronics manufacturer expects to generate additional revenue from its recently won government contract. The company forecasts that the revenue will be $108,937 million in the first year, but will decline by $2,295 million every year for th..
Clearly explain the implication of the crowding-out effect on the link between government deficits, interest rates and inflation?
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