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Migration in neoclassical growth models
a. Under what circumstances does the potential for migration raise the speed of convergence in the Solow-Swan model? What about in the Ramsey model? What are the sources of the effects on convergence?
b. Might a government of a country that is receiving immigrants find it desirable to restrict the number that come? Might the government wish to charge a fee for immigration? Would the fee tend to vary with the immigrant's quantity of human capital?
c. Redo part b for the case of a country that is sending emigrants.
A purely competitive wheat farmer can sell any wheat he grows for $10 per bushel. His five acres of land show diminishing returns, because some are better suited for wheat production than others. The first acre can produce 1000 bushels of wheat.
Which recession had the largest increase in the rate of unemployment? Begin with the month before the quarter in which output first falls and measure to the highest level of the unemployment rate before the next recession.
There are two firms in an industry, engaged in Cournot competition. The firms compete repeatedlyin successive time periods. Occasionally, one of the firms is required to produce a certain amount(due to production constraints). This amount is known to..
Now find every year where the growth in disposable income per person is negative. Does the index of consumer sentiment rise or fall in that quarter?
In the state of California, rice growers burn their field stubble to sanitize their fields. The field burning causes serious air pollution. The alternative sanitizing method costs $150 per acre.
The Haverford Company is considering three types of plants to make a particular electronic device. Plant A is much more highly automated than plant B, which in turn is more highly automated than plant C. For each type of plant, average variable co..
Then determine NDP. The Expenditure approach equals out to $361 Billion, the way to find this is to add up all the expenses, and the Income approach equals out to $380 billion and the way to find this part is to add up all the income. With that de..
What is the marginal revenue of the 101st pound of heirloom tomatoes?
John's Lawn Mowing Service is a small business that acts as a price taker. John's short-run total cost is given by STC = 0.1q2 + 10q + 50, where q is the number of acres John chooses to cut a day. Total fixed cost is TFC = 50 and total variable co..
The demand curve for product x is given by Qx^d=460-4Px a.)Find the inverse demand curve. b.)How much consumer surplus do consumers receive when Px=$35 c.)How much consumer surplus do consumers receive when Px=$25
Fit a multiple regression model of y on x1 and x2. Fit two simple linear regressions: (I) y on x1; (II) y on x2. Compare the results of multiple regression analysis with each of simple linear regressions.
where P is the price in cents per kilo and Q is the quantity in millions of kilos. Canada is a small producer in the world chick pea market, where the current world price (which will not be affected by anything we do) is 60 cents per kilo. The Gov..
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