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Consider the basic Solow model with no population growth and no technological progress and a production function of the form F (K, H ), where H denotes the efficiency units of labor (human capital) given by
where N is the set of all individuals in the population, and hi is the human capital of individual i. Assume that H is fixed. Suppose there are no human capital externalities and factor markets are competitive.
(a) Calculate the steady-state equilibrium of this economy.
(b) Prove that if 10% higher h at the individual level is associated with a% higher earnings, then a 10% increase in the country's stock of human capital H will lead to a% increase in steadystate output. Compare this result to the immediate impact of an unanticipated 10% increase in H (i.e., consider the impact of a 10% increase in H with the stock of capital unchanged).
read the following article and answer the questions at the end.but i dont feel stimulated by john slaytonpresident
a) Using the 2 step growth model, calculate the price of the 3 stocks. b) Are any of the stocks an obvious buy compared to the current market price c) If you had a stock selected for part b, explain where the analysis may have gone astray.
Compute estimated attendance for a Sunday game, during week 3, with an average ticket price of $40, if the team's winning percentage is 100%.
TC= 41,000,000+0.005Q 2 MC= TC/ Q =$500 +0.01Q calculate profit maximizing activity level and optimal profit, and optimal profit as percentage of sales revenue. profit maximization problem
The state Medicaid agency has set a rate of $5.50 per visit for all Medicaid enrollees who visit a physician. Each physician also has private paying patients. The demand curve for each physician can be characterized as follows
Assume that the supply curve for popcorn is determined by the following: Qs=12Pp. Assume further that today's price of nachos is $6 per serving and of candy is $4 per bag. Determine the equilibrium quantity exchanged and price of popcorn.
In doing so, what would be the primary obstacle to overcome in implementing such a policy?
Identify the facts from the scenario which support your decision on whether or not a contract exists for the purchase of the automobile.
What assumption about consumption behavior leads to this result? b. What happens to this ratio after retirement?
Verify that Theorem 7.14 from Chapter 7 can be applied to the social planner's problem in Section 13.1.
Suppose that a firm maximizes its total profits and has a marginal cost (MC) of production of $8 and the price elasticity of demand for the product it sells is (-)3. Find the price at which the firm sells the product.
Dakota Trucking Company (DTC) is evaluating a potential lease for a truck with a 4-year life that costs $40,000 and falls into the MACRS 3-year class. If the firm borrows and buys the truck, the loan rate would be 10%, and the loan would be amorti..
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