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In answering questions 1-10, use the following information about the economy of Margaritaville. Margaritaville's production function per effective worker is given by the following expression y = k0.5, where y = Y/(E×L) and k = K/(E×L). Y is real output; K is the stock of capital which depreciates at a rate of 2 percent per year (δ = 0.02). L is the size of the labor force which grows at the rate of 1 percent per year (? = 0.01); and E is a coefficient describing the efficiency of labor which grows at the rate of 2 percent per year (g = 0.02). In sum, Magaritaville has a savings rate of 25 percent, a depreciation rate of 2 percent, a population growth rate of 1 percent, and a rate of labor-augmenting technological change of 2 percent.T F 2. In the steady-state of this economy, the marginal product of capital per effective worker (MPK) is equal to 0.10. T F 3. The steady-state level of capital per effective worker in Margaritaville is equal to 20.0.T F 4. In the Golden-rule steady-state of this economy, consumption per effective worker is equal to 2.T F 5. A government interested in maximizing consumption per worker should increase the savings rate to 45 percent.T F 6. If the population growth rate decreases, output per effective worker would increase.T F 9. In the steady-state of Margaritaville's economy, output (Y) grows at a rate of 6 percent per year.
Estimate the demand for natural gas by each group over the entire period using a simple linear regression. How confident would you be in concluding the coefficient estimates are not equal to zero?
1. what is a mutual fund? explain in detail noting any differences in practice between saudi arabia and the united
When Coca Cola introduced a new, low calorie version of Coca Cola called C2, despite a major marketing effort, sales of C2 were weak and by the fall many doubted that the product would last. Coke's experience with C2 illustrates the economic conce..
Clear Limited produces Plasma TV and distributes to retailers under her own house brand. Recent trend in market seems to favour adoption of TV using either LED technology.
During the course of a year, the labor force consists of the same 1,000 people. eot to hire 20 of these people in the face of government regulations making it too costly to employ them. what is the frictional unemployment rate?
i. How do TCP and UDP relate to IP (Internet protocol)? Which of these pro- tocols are encapsulated within (or layered atop) one another? Could all three be used simultaneously?
Calculate the consumer and producer surplus, and the deadweight loss after a tax on producers of $1000 is imposed - Calculate the change in the least cost combination when wages
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Draw a new set of graphs that illustrate long-run equilibrium in a constant-cost competitive industry. Use two graphs, one for the market and another for a representative firm.
What type of externality (positive or negative) is present in each of the following examples? Is the marginal social benefit of the activity greater than or equal to the marginal benefit to the individual?
The money demand curve will shift to the right if there is
How do you ?nd the most ef?cient output, and how do you ?nd the most pro?table output and at the output at which a ?rm maximizes its pro?ts, what two variables are equal?
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