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Consider Romer’s growth model of Chapter 6 and let ¯ A 0 = 100, ¯ l = 0 : 06, ¯ z = 1 = 3000, and ¯ L = 1000.
a) What is the growth rate of output per person in this economy?
b) What is the initial level of output per person? What is the output per person in 100 years?
c) How do your answers in parts a;b change if the following changes occur? A doubling of ¯ A 0 , a doubling of ¯ l , a doubling of the population ¯ L , and a doubling of ¯ z . (Note: Explain these changes one at a time).
d) If you could advocate for one of the changes above, which one would you choose? Why?
Illustrate what is the real GDP in each year, given that the price index has risen from 100 in the base year to 104.5 in Year 1 and up to 108.3 in Year 2.
Identify and discuss at least two economic phenomena for which the linear-in-parameters/linear-in-variables regression model may not be appropriate (besides any mentioned in the text). Select an economic phenomenon and determine which of the models d..
The change in the total quantity produced which results when one more worker is added to the production process is called
A any given interest rate, business become very optimistic about the future profitability of investment spending. Assume the budget balance is zero.
An individual has an income of $1000 per month with which they buy the composite good with a price of $1 and food with a price $2/unit of food. Draw the budget constraint for the individual with the composite good on the y-axis and food on the x-axis
elucidate why not and propose a mechanism that might solve your dilemma.
The long-term nature of the employment relationship: motivates household members to seek market work in order to earn an income. reduces the sensitivity of wage rates to changes in demand and supply.
Use the following information from the current year financial statements of a company to calculate the ratios below- Accounts receivable turnover. Times interest earned ratio. Divided yield ratio. Earnings per share.
If the company will sell the number of units obtained in part d, and wants to maintain the same level of profit as last year, what will its new price have to be?
q.alices utility is given by x as well as y are goods as well as l is the amount of hours that alice works. alice can
Contractionary fiscal policy and contractionary monetary
What are episode-based payments (EBPs) and how do they differ from traditional FFS payments. What is the economic intent behind EBPs? Explain how EBPs relate to the idea of supply-side cost sharing?
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