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Using the same production function as in question 1 assume that total GDP (Y) is growing 4 percent per year, the labor force (L) is growing 1.5 percent per year, and the capital stock (K) is growing 3 percent per year. How fast (by what percent) is total factor productivity (A) growing per year? How fast is output per worker (Y/L) growing, and what is the contribution of the growth of total factor productivity growth (dA/A) to that growth? What is the contribution of a faster rate of capital growth compared to labor force growth α[dK/K - dL/L] to increases in Y/L?
Explain how does that rate compare with the rate in the previous month. What were the unemployment rates for adult men, adult women, teenagers, blacks, Hispanics, and whites.
This exercise is an illness which has caused three capable observable things to happen. What are they?
Discuss how conservatives, liberals and radicals explain the causes of and solutions to poverty. what evidence do they use to support their view.
Sunrise Surf Corporation is considering to create 35 surfboards in a month if it can sell each board for $400. If it can receive $700 for each board, the company is willing to create 75 surfboards.
In a monopolistically competitive marketplace, a firm has market power because it produces a differentiated product. This means that the firm earns positive economic profit in the long run.
Define Supplier-Induced Demand and propose a research study to identify the presence of SID and its effect on the utilization of physician services.
Review the GDP data for the last few years from Bureau of Economic Analysis's Website and give a brief summary of the GDP trends over that timeframe and discuss 2or3 events which may have caused these trends.
Suppose if there were no tax profits and behavior is governed through rational self interest, would people give to charitable institutions? use economic principles to describe.
If the costs of one of the goods rise by 5 percent, Illustrate what will happen to the demand for the other product, holding constant the effects of all other factors?
Assume the entire economy contains $5000 worth of one-dollar bills. If people fail to deposit any of the dollars, but instead hold all $5000 as currency, how large is the money supply?
Joe won a lottery jackpot that will pay him $12,000 every year for the next ten years. If the market interest rates are currently 12 percent,
An ice cream shop read in the local paper in which the elasticity of market demand for ice cream
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