Steady state of the solow model with population growth

Assignment Help Business Economics

Reference no: EM131007096

Draw a well-labeled graph that illustrates the steady state of the Solow model with population growth. Use the graph to find what happens to steady-state capital per worker and income per worker in response to each of the following exogenous changes.

a) A change in consumer preferences increases the saving rate

b) A change in weather patterns increases the depreciation rate

c) Better birth-control methods reduce the rate of population growth

d) A one-time, permanent improvement in technology increases the amount of output that can be produced from any given amount of capital and labor.

Reference no: EM131007096

Questions Cloud

What is time budget constraint-marginal utility of exercise : Bob is awake for 15 hours a day and divides that time between hours of exercise, x, and hours of study, s. Bob’s preferences are represented by the following utility function. What is Bob's time "budget constraint"? What is Bob's marginal utility of ..

Use to be elected mayor of a university town : One strategy I might use to be elected mayor of a university town is to place a binding price ceiling on rent for student apartments. What will happen if I get elected and am able to pass such a law?

Calculate price of good-will lead to competitive equilibrium : Suppose there are two consumers, A and B, and two goods, X and Y. Consumer A is given an initial endowment of 3 units of good X and 8 units of good Y. Consumer B is given an initial endowment of 3 units of good X and 4 units of good Y. Suppose the..

Trademark law does not allow the holder to sell trademark : Trademark law does not allow the holder to sell a trademark independent of the good to which it is attached. Thus, Coca-Cola cannot sell its use of the trademark "Coke" to another producer of cola syrup that mark may be sold only with the syrup produ..

Steady state of the solow model with population growth : Draw a well-labeled graph that illustrates the steady state of the Solow model with population growth. Use the graph to find what happens to steady-state capital per worker and income per worker in response to each of the following exogenous chang..

Show a power press and identify the location of each item : Search online at http://www.osha.gov and from 29 CFR 1910.211 Definitions, define the following power press terms: brake, clutch, two-hand control device, die, foot pedal, pinch point, point of operation. Regulations for power presses are presente..

What defenses will the bank assert : Is the bank liable for the janitor's negligence? Be sure to go through all of the elements. Additionally, note that under the doctrine of respondeat superior the bank WILL be liable for any potential negligence of the janitor employee. What defe..

Identify a machine you have used that had a machine guard : With these requirements in mind, identify a machine you have used that had a machine guard to protect the operator or other person in the machine area from hazards. Sketch the machine and label the guarding device, power source, point of operation..

About whether the efficient duration of copyright is longer : The duration of copyright increased under U.S. law in several steps since the eighteenth century until it reached the life of the author plus 70 years. Suppose that a writer completes a novel at age 40. If the writer lives to be 75, then the copyrigh..

User Account

All Pages