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1. Consider an economy whose production can be characterized by the following production function: Yt = 2K^5 N^5
Suppose that individuals in this economy invest 30% (use .30 in the graph) of what they produce; the labor force in this economy grows at 5% (use .05) per year; and 10% (use .1) of the capital stock wears out each year.
a. Write the production function in per worker terms. Draw a graph of this production function. Introduce a curve that shows the level of investment in the economy for each value of k. Add a segment that shows the required rate of investment for a steady state capital labor ratio. What is the slope of this last line? Show the steady state equilibrium points. Label carefully.
A machine with a useful 10 year life is to be depreciated by the MACRS method over 7 years. The machine has a first cost of $35,000 with a $5,000 salvage value. Its annual operating cost is $7,000 per year. The depreciation charge in year three is ne..
Doing the work on paper and then writing the answers in Excel does not count as work and will earn zero points for this part of the assignment.
Elucidate however, was 3 percent in Finland also 1.8 percent in France. From this we can conclude that France's every capita GDP
What factor(s) in demographic segment can have significant impact on U.S. restaurant industry? How does each of these factors shape the growth and changes of the industry? What are the future trend of each factor and the resulting changes of the indu..
Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium price?
find the equation that describes the IS curve
When comparing the distribution of wealth to the distribution of income, it can be noted that
The article utilize this kind of calculation to show the difference among labor productivity growth.
Explain do you think McDonald's new launch will have a sustainable impact on its bottom line.
Bob’s Whole Catfish is a southern Alabama farm that operates in the perfectly competitive catfish farming industry. Bob’s short-run total cost curve is STC(Q)=400+2Q+0.5Q2 where Q is the number of catfish harvest per month. All of the fixed costs are..
Discuss how increasing your human capital may influence your ability to accept change, and readiness to learn new skills and get new jobs. Please apply the effects of human capital and technological changes as explained in the textbook when sharing y..
Elucidate why general level of wages in the united states and other industrially advanced countries. What is the single most important factor underlying the long-run increase in average real-wage rates in the united states
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