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We have following data on Portugal. year 1960 2010 GDP (billions 2005 US$) 23.109 218.569 Population (millions) 8.107 10.676 Labor (millions) 3.393 4.909 Capital (billions 2005 US $) 55.221 888.273 The average annual growth rate of GDP is . The average annual growth rate of GDP per capita is . Suppose that the production function is Y = zK0.4L 0.6 . The Solow residual in 2010 is . % of GDP growth in Portugal can be explained by increases in TFP.
Calculate and interpret the own price, cross price, and income elasticity of demand.
Some lenders charge an up-front fee on a loan, which is subtracted from what the borrower receives. This is typically described as "points" (where one point equals 1% of the loan amount). The federal government requires that this be accounted for in ..
Discuss illustrate what will take place to the demand curve for economic text book in response to a reduction in student grants.
An individual likes owning cars is better. In order to own a car, an individual must have a 1:4 ratio of frames to tires.
Suppose a chemical factory discharges waste products into a river resulting in significant damages to a local fishery. The marginal damage and the marginal abatement cost (MAC) are given by:
Suppose a consumer derives satisfaction from consuming tacos: those from Taco Bell and those from Chipoltle. Graph the budget line of the consumer under the assumption that he is offered a “buy three, get one free” deal at Taco Bell (limit one free t..
Elucidate how many workers the firm should hire for different values of the wage rate in order to maximize profit.
q.hiro nakamura is ceo of the cola king bottling company a small regional producer operating in the pacific northwest.
The European Economic Community was founded with the Treaty of Rome. Please name the ten most important milestones between 1957 and the EU enlargement of 2008. The EU is the biggest common market worldwide. Please name the most important facts that d..
In terms of aggregate supply, a period in which nominal wages and other resource prices are unresponsive to price-level changes is called the A. long run. B. short run. C. very long run. D. immediate market period.
Which of the following terms express a person who risks his or her financial resources by investing it in the hope of making a profit.
Suppose a firm has a warehouse that they originally purchased for $500,000. They have a project that they determine would be acceptable if the costs for the warehouse were at most $1,500,000. The firm has determined the market price for the warehouse..
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