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Question: Assume an economy with a production function that exhibits constant returns to capital.1 In each of the following cases, draw a Solow-Swan diagram and use is to explain whether and how the economy converges to a steady state. Clearly identify any steady state(s) or otherwise explain why there is no steady state.
(i) Assume the sum of population growth and the depreciation rate is greater than the saving rate.
(ii) Instead assume the sum of population growth and the depreciation rate is less than the saving rate.
(iii) Instead assume that the sum of population growth and the depreciation rate is equal to the saving rate.
What is the importance of diminishing returns to capital in the Solow-Swan model?
There is an Arithmetic Gradient Income from years 6-10 with a Base Annuity of $500.00 and an Annual Gradient G of +$50.00
How to Restore Participating and Self-Support to Free Enterprise (Harvard University Press, 197), economist Edmund Phelps. Is the Phelps' plan an improvement over current government policies? 3. The availability of investment capital is critical f..
Do you think there are any policies or steps that a society can take to avoid scarcity, at least in terms of supplying all the needs of its population? Write an argument for or against the concept that scarcity can be prevented by a society.
Ed Richter estimates the cost of future projects for a large contracting firm. Mr. Richter uses precisely the same techniques to estimate the costs of every potential job, and formulates bids by adding a standard profit markup.
Please respond to this question "Based on the readings and your enriching discussion, explain how the reduced personal risk of a corporate organization allows for greater efficiency? Be specific." All i need is a one or two paragraph response ple..
Explain how a consumer as well a business in the perfectly competitive arena maximize utility, discussing any similarities.
Suppose the marginal cost curve in the short run first decreases, then reaches a minimum, and then increases. If we are at an output where marginal cost is decreasing, then: A. marginal product must be increasing. B. average variable cost must be d..
Present the rules for the external and internal firewall in a table format a) Email may be sent using SMTP in both directions through the firewall, but it must be relayed via the DMZ mail gateway. External email must be destined for the DMZ mail serv..
The number of repairs manufactured through a computer repair shop depends on the number of employees as follows:
Suppose the Demand for Real Balances is given by the following equation: (m/p)d = 1500 + 0.2Y - 10,000( r + πe). Assume M = 4,000, P = 2, πe = .01 and Y = 5,000.
Try the machine learning K-nearest-neighbor algorithm on the PUMS data to get another view of the "interesting pattern" from above. How good of a classification can you get?
How many total cases of beer would need to be produced to increase tax revenue by exactly $20,000?
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