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Consider the discrete-time version of the neoclassical growth model. Suppose that the economy admits a representative household with log preferences (θ = 1 in terms of (8.49)) and the production function is Cobb-Douglas. Assume also that δ = 1, so that there is full depreciation. Characterize the steady-state equilibrium, and derive a difference equation that explicitly characterizes the behavior of capital stock away from the steady state.
An automobile is priced at $ 7,000. A buyer may purchase the car for $ 6,500 now, or alternatively, the buyer can make a down payment of $ 1,000 now and pay the remaining $ 6,000 in eight equal quarterly payments ( over 2 years)
Did prices for these loans increase or decrease
The number of hours spent studying by students on a large campus in the week before final exams follows a normal distribution with a standard deviation of 8.4 hours.A random sample of these students is taken
consider the joint density2xy if 0ltxlt1 and 0ltyltxfxy xy 0 otherwise1. calculate fxy 0.50.52. calculate fx 0.53.
Define data mining. How is it used for verification and discovery in the audit process?
In the fall of 2003, many analysts predicted that the dollar would fall in value relative to other currencies because the trade deficit in the United States had become too large. What effect would a fall in the dollar have on growth in the rest of..
A monopsonist's demand curve for labor is given by w = 12 - 2L, where w is the hourly wage rate and L is the number of person-hours hired. a. If the monopsonist's supply (AFC) curve is given by w = 2L, which gives rise to a marginal factor cost cur..
If the current price of the product is $150, what is the quantity supplied and the quantity demanded How would you describe this situation and what would you expect to happen in this Market
ABC Corporation's recently issued bonds paying interest semiannually and maturing in 10 years. The face value of each bond is $1000, and 6.8% is the nominal interest rate. (a) What is the effective interest rate an investor receives.
The structure of public policy papers is different from typical papers and requires certain elements and sections in addition to the traditional thesis, introduction, and conclusion.
A monopolist sells his good in a market where there is a continuum of consumers of measure 1. Eachconsumer buys either 0 or 1 unit (imagine the good is something like a washing machine? people donot need more than one).
Calculate monopoly output, price, and maximum profit when the market demand curve is QD = 20 - 2p, MC = 4Q, and TC = 2Q2. If a new innovation enables the monopoly to cut its costs by 50%, but it costs $50 to adopt this innovation.
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