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We have following data on Portugal. year 1960 2010 GDP (billions 2005 US$) 23.109 218.569 Population (millions) 8.107 10.676 Labor (millions) 3.393 4.909 Capital (billions 2005 US $) 55.221 888.273 The average annual growth rate of GDP is . The average annual growth rate of GDP per capita is . Suppose that the production function is Y = zK0.4L 0.6 . The Solow residual in 2010 is . % of GDP growth in Portugal can be explained by increases in TFP.
The price elasticity for rice is estimated to be -0.4 and the income elasticity is 0.8. At a price of $0.40 per pound and a per capita income of $20,000, the demand for rice is 50 million tons per year. If per capita income increases to $20,500, what..
Acme Tobacco is currently selling 5,000 pounds of pipe tobacco per year. Due to competitive pressures, the average price of a pipe declines from $15 to $12. As a result, the demand for Acme pipe tobacco increases to 6,000 pounds per year. What is the..
q1. besides elections and campaigns do the major political parties influence public values and ideas? do you think
What knowledge, skills, attitudes, and behaviors should an effective citizen have? Explain the connections you see among service, civic responsibility, and business? What are the business/industry implications of civic responsibility?
What is the level of net exports in this country?
I am trying to aggregate demand functions. If the two functions are Q1=150-10P and the second function is Q2=150-5P, what would the aggregate function be?
d. Perform an annual equivalence analysis for the two options, and state which is the better option and why. Calculate the present worth of the incremental system (1 - 2), and state which option is better and why.
Suppose the economy is in equilibrium when there is a change in environmental policy that bans all pesticides and herbicides on farmland. We would expect to observe
Media aggregators are utilized to bring together mass volumes of news together in one piece for consumers. With the continued advent of new technologies, the Internet has become ripe with various aggregators. What are the potential advantages of util..
A state highway department is trying to decide whether it should “hot-patch” a short section of an existing county road or resurface it. If the hot-patch method is used, approximately 300 cubic meters of material would be required at a cost of $700 p..
St Atanagio is a remote island in the Atlantic. The inhabitants grow corn and breed poultry. The accompanying table shows the maximum annual output combinations of corn and poultry that can be produced. Obviously, given their limited resources and..
You are the owner of a local Honda dealership. Unlike other dealerships in the area, you take pride in your “No Haggle” sales policy. Last year, your dealership earned record profits of $1.7 million. In your market, you compete against two other deal..
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