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Now suppose we have a one-sector model with a variable rate of population growth.
a. What does the investment requirement line look like for this model?
b. Characterize the set of equilibria, being sure to discuss their stability or lack thereof. Does output in any of these equilibria have nonzero per capita growth?
c. Suppose your country is in a "poverty trap"-at the equilibrium with the very lowest level of output per person. What could the country do to move toward a point with higher income?
P = 800 - 0.16 If the goal of the transit authority was to maximize total revenues, what is the new price it should set Also, what would the total revenue raised in this new price scheme
What general conclusion can be reached with respect to the utility and acceptance of the H-O model?
Write down the unit cost of producing one yard of cloth and one calorie of food as a function of the price of one machine-hour, r, and one work-hour, w. In a compet- itive market, those costs will be equal to the prices of cloth and food.
suppose that businesses buy total of $ 130 billion of the four resources ( labor,land,capital, and entrepreneurial ability) from households. If households receive $ 72 billion in wages, $ 16 billion in rent, and $ 26 billion in interest
The hypothetical figures in the table below give five alternate combinations of steel and autos that Japan and South Korea can produce it they fully use all factos of production at their disposal with the best technology available to them. After s..
Howard Bowen is a large-scale cotton farmer. The land and machinery that he owns has a current market value of $4 million. Bowen owes his local bank $3 million. Last year Bowen sold $5 million worth of cotton. His variable operating costs were $4...
What procedures should an auditor carry out to determine the validity of a significant source of company revenue?
Explain what Bob's "tit-for-tat strategic behavior" would be if he wished to see the game.
A multiproduct firm's cost function was recently estimated as C(Q1, Q2) = 75 - 0.25Q1Q2 + 0.1Q1^2 + 0.2Q2^2 a. Are there economies of scope in producing 10 units of product 1 and 10 units of product 2 b. Are there cost complementaritites in producing..
Summarize the general idea of Bayesian model averaging. When would this method be preferred to choosing one of the alternative models?
Suppose that the inverse demand for shale gas is given by p = 400 - 2q. The private marginal cost of producing shale gas is PMC = 100 + q. Suppose that in order to produce shale gas at the PMC given above, the oil and gas (O&G) companies (that pro..
Mr. Midas has wealth of $100,000 that he invests entirely in money (a chequing account) and government bonds. He instructs his banker to invest $50,000 in bonds, plus $5,000 more in bonds for every percentage point that the interest rate on bonds ..
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