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A country is described by the Solow Model with a production function y =k1/2. Now suppose k is equal to 400. Now suppose that the fraction of output invested (or saved) is 50%. Assume that the depreciation rate is 5% and population growth is 0%.
Is the country at its steady-state level of output per worker, above the steady-state or below the steady state? Show how you reached your conclusion.
Fit three possible statistical cost functions to the data. Use straight-line, quadratic, and cubic formulas. Discuss the statistical results you obtained in question 1. Include in your discussion R2 , the coefficients, and the statistical significanc..
Cathy has one year left before she completes her degree in industrial engineering. She is spending this summer working for her family's firm, MMM (Molehill & Mountain Movers). MMM runs a fleet of heavy construction equipment and sells gravel for road..
Explain gambling from a risk-return perspective and from a Christian worldview. What is wrong (from a Biblical viewpoint) with gambling if consumers want it? Is price-discrimination always wrong? Under what conditions might it be ethically allowable?
What are the effects of innovation and technology on the cost of production? How does technology affect market structure and real-world competition? Which market structure is best suited for technological innovation? Explain your answer. How have tec..
The arguments Dr. Krugman makes against the globalization hypothesis of inflation and unemployment are mostly empirical. Which argument do you find most compelling? Recently, there has been a vocal movement in the United States which has protested ag..
Can you give examples of the companies that have high pension costs. Why are companies using more technology input while reducing labor input. Explain why are the Average Cost Curves U-shaped.
Consider a world in which there is no currency also depository institutions matter only transactions deposits also desire to hold no excess reserves.
Alex has a utility function U=3 sqrtXY The price of good X is $1, the price of good Y is $2, and her income is $100. Her quantity demanded for good X is ___ Her quantity demanded for good y is___
Which of the following is not one of the criticisms of fiscal policy?
Suppose the following table shows the number of labor hours needed to produce airplanes and automobiles in the united states and south korea, but one of the numbers is unknown. SK-#of hours to produce planes=2,000, produce cars=?. and US airplanes =8..
How would you array the following organizations in terms of the depth and breadth of their product lines: (a) a solo-practice family practitioner who does not deliver babies, (b) a multispecialty group practice that provides primary care at five sate..
A micro-brewery is considering the installation of a newly designed boiler system that burns the dried, spent malt and barley grains from the brewing process. The boiler will produce process steam that powers the majority of the brewery’s energy oper..
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