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Macroeconomics. Chapter 8, Income Disparity Among Countries and Endogenous Growth.
In the Solow growth model, suppose that the per-worker production function is given by y=zk^0.3, with s=0.25, d=0.1, and n=0.02.
a) Suppose that in country A, z=1. Calculate per capita income and capital per worker.
b) Suppose that in country B, z=2. Calculate per capita income and capital per worker.
c) As measured by GDP per capita, how much richer is country B than country A? What does this tell us about the potential for differences in total pfactor productivity to explain differences in standards of living across countries?
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Explain how do economists distinguish between the absolute and relative sizes of the public debt. Why is the distinction important.
Kathy's Bakery is a local full-service bakery in Omaha, Nebraska. Kathy sells loaves of wheat bread for $3 a loaf. Of this amount, $1.50 is profit contribution. Assuming average variable costs are constant at all output levels, what is Kathy's total ..
Consider a large country importing good X in the international market. The country is large enough to influence the international price for good X. Let the initial international price of good X be $100, where the country imports 100 units and produce..
Potato farming (like farming of most agricultural products) is highly competitive. Price is determined by demand and supply. Based on U.S. Department of Agriculture statistics, U.S. demand for potatoes is estimated to be QD = 184 - 20P, where P is th..
Which of the following best describes what occurs when monetary authorities sell government securities.
Suppose that in a particular country, GDP per capita was $ 10,000 in 1960 and $ 40,000 in 2008. Using the rule of 72 (not a calculator), approximate the annual growth rate of GDP per capita.
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What is meant by the Consumption Possibilities of a country? How are Consumption Possibilities related to Production Possibilities in a closed economy? In an open economy?
q1. in reference to financial perspective you have financial perspective customer perspective process prospective and
Interest rate parity suggests that the difference in interest rates between two countries affects the change in exchange rates over time. While not a perfect predictor, it has been shown to be an unbiased predictor and has more explanatory power than..
You now know everything you need to know to be an informed critic of the Affordable Care Act. Based on all that you have learned, how does the Act measure up to our three goals of 1) increasing quality of care, 2) increasing access to care and 3) kee..
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