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Consider an economy described by the following production function Y=F(L,K)=L 0.8 K 0.2
A) Assuming no population growth or technological progress, find the steady state capital stock per worker, output per worker, consumption per worker and investment per worker given that the rate of saving is 20% and depreciation rate is 10%. show that the values computed above are steady state values. (limit calculated values to 10 decimals points)
B) How would the steady state outcomes above change if this economy increased its saving rate to 30% (Recalculate the steady state values)
This document shows evaluation of alternative approaches to analysing the effectiveness of public policy and Assess the impact of government policies on selected areas.
Consumption accounts for about 60% of GDP, while investments accounts for about 20% for GDP. But many economists think that, to understand economic recession, it is more significant to look at investment than consumption. Why?
What is the difference between the medium of exchange and the store of value? What is the difference between commodity money and fiat money?
How much does the gross price increase in each market
Overview of the project's objectives and scope
Draw a correctly labeled loanable funds graph that shows what happens to real interest rates.
Consider economy that is above full-employment equilibrium (natural rate of output) because of an increase in AD. Prices of productive resources have'nt changed. With the help of graph
Would you rather earn a 4 % nomical or 4% real interest rate? Illustrate by describing the difference between nominal and real variables.
The supply curve for labor is S L = 100W, where W is the market wage. The marginal revenue product curve for the firm is D L = -50W + 450.
Using the Lerner index, find the price elasticity of demand for Botox and interpret what this value means to total revenue if the price of Botox were increased one percentage point.
What will be the effect of this change in policy on both the real and the nominal interest rate in the long - run?
Evaluate: "The fact that some airplanes collide is evidence there is 'too little air traffic control'." (Be sure to explain what too little might mean.)
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