What would you predict for the variables

Reference no: EM13141213

The amount of education the typical person receives varies substantially among countries. Suppose you were to compare a country with a highly educated labor force and a country with a less educated labor force. Assume that education affects only the level of the efficiency of labor. Also assume that the countries are otherwise the same: they have the same saving rate, the same depreciation rate, the same population growth rate, and the same rate of technological progress. Both countries are described by the Solow model and are in their steady states. What would you predict for the following variables?

a. The rate of growth of total income

b. The level of income per worker

c. The real rental price of capital

d. The real wage

Reference no: EM13141213

Questions Cloud

What are the genotype frequencies : One in 1700 Caucasian new borns have cystic fibrosis. What is the allele frequency for the normal (C) and disease (c) alleles? What are the genotype frequencies?

Identifiable net assets problem : On April 1, 2011, BigBen Company acquired 30% of the shares of LittleTick, Inc. BigBen paid $100,000 for the investment, which is $40,000 more than 30% of the book value of LittleTick's identifiable net assets.

Estimate the volume of 0.0100m naoh required : lemon juice has a ph of about 2.5. Assuming that the acidity of lemon juice is due solely to citric acid, that citric acid is a monoprotic acid,

Plot the magnitude response : Plot the magnitude response (in dB) and the impulse response of the designed filter using MatLab.

What would you predict for the variables : They have the same saving rate, the same depreciation rate, the same population growth rate, and the same rate of technological progress. Both countries are described by the Solow model and are in their steady states. What would you predict for t..

Describe three properties common to the reactions : Describe three properties common to the reactions catalyzed by dna polymerase, rna polymerase, and reverse transcriptase.

What are the possible genotypes and phenotypes : what are the possible genotypes and phenotypes of the F2 progeny.

How many grams of hydrazine can be consumed : 2N2H4 (aq) + H2SO4 (aq)--> 2 N2H5+So4^-2(aq) how many grams of hydrazine can be consumed by 250.ml of 0.225 M H2SO4?

Explain the outputs of two nand gates are connected : The outputs of two "NAND" gates are connected to the inputs of an "Exclusive Or" gate. Each of the "NAND" gates has one input at a logic high level, and the other input at a logic low level. What is the output of the "Exclusive Or" gate?

User Account

All Pages