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If the marginal product of capital net of depreciation equals 10 percent and the rate of population growth equals 2 percent what must be the rate of technological progress for the economy to be at the Golden Rule steady state?
Give the utility function U(x, y) = (x-4) 1/2 (y-2)- 1/2 , what is the minimum income needed to ensure positive utility?
The primary difference in a change in supply and a change in the quantity supplied is,
Compute the elasticities of demand for and supply of broccoli at the market equilibrium, and interpret the meaning of these numbers.
The government uses policies like student loans and free trade to influence the economy's growth rate. In 600-1200 words, identify at least four policies from the textbook that the government has created to impact economic growth and productivity.
The inverse market demand curve is P=140-Q, and inverse supply curve is P=20+Q. Suppose that the market is competitive,
Using above demanded schedule, find out the elasticity of demand for each price change. (Example: when price changes from $5 to $10, quantity demanded changes from 1000 to 800 oz., so the elasticity of demand, by using average values, is 1/3 or 0...
Discuss how the economic indicators inflation, employment levels and interest rates,
Illustrate average monthly rent for a three-bedroom apartment in Miami. Qd is measured in units of 1,000 square feet per month.
Illustrate are some of the clever strategies that landlords might use to create a black market.
Suppose production of this good imposes external costs of $10 for each unit produced. Does this cause an over or an underallocation of resources to production of this good
Early Classical economists found the subsiquent diamond/water paradox perplexing.
Discuss the options available to the government when trying to offset a recession by stimulating the economy. Consider both fiscal and monetary policies. What are the pros and cons of different policy measures.
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