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Suppose that the economy under study has the following characteristics:s = 0.30 n = 0.02 g = 0.10 d = 0.03K = 1600 Y = 800 N = 100 A = 2Y = F(K, N, A) = AF(K, N) = A(K^(1/2))(N^(1/2))
What savings rate would be needed in order for this economy to achieve the golden rule steady state? (Hint: First find the level of k=K/N for which the golden rule is satisfied, then obtain y=Y/N and use the balanced growth condition to determine the savings rate, s).
The widget Industry in Anytown is a monopoly, controlled by Widget Corp. Its demand curve for the local market is given by P = 800 - 20 W Where W represents the number of widgets sold per period. The total cost function (including opportunity or impl..
Also suppose that in 1984 each bucket of chicken was priced at $10.00. Finally, assume in 2005 the price per chicken was $16.00 and 22,000 buckets were produced. Determine the GDP price index for 1984, using 2005 as the base year.
Assume that the objective function coefficient for X remains 8, but the objective function coefficient for Y changes from12 to 6. Does the optimal solution change. Use the graphical solution procedure to find the new optimal solution.
he world real interest rate r* is 0.75%. For the following questions, use the conditions associated with the general monetary model. Treat Mexico as the home country and define the exchange rate as Mexican pesos per Canadian dollar, Epeso/C$
Suppose the demand function for a firm's product is given by In Qdx=3-0.5 In Px-2.5 In Py In M 2 In A Where Px= $10, Py= $4, M= $20,000, A= $250 A. Determine the own price elasticity of demand, and state whether demand is elastic, inelastic, or unita..
The town of Dry Gulch needs more water from Pine Creek. The town engineer has selected two plans for comparison: a gravity plan (divert water at a point 10 miles up Pine Creek and pipe it by gravity to the town) and a pumping plan (divert water at..
There are three industrial firms in Happy Valley. FIRM INITIAL COST OF REDUCING POLLUTION LEVEL POLLUTION BY 1 UNIT A 70 units $20 B 80 25 C 50 10 The government wants to reduce pollution to 120 units, so it gives each firm 40 tradable pollution p..
Now what will your price be? How much deadweight loss will your firm create?(d) After the election, you decide your firm is not making enough money. So you hire the lobbying firm C&E. C&E are able to convince regulators that you should set ..
The Metropolitan Symphony in Toledo, Ohio, has had great success with a "Senior Citizens' Night" promotion. By offering half off its regular $20 admission price, average nightly attendance has risen from 4,000 to 6,000 persons.
Suppose that the Fed is required to keep the inflation rate between 1 percent and 2 percent a year but with no requirement to keep trend inflation at the midpoint of this range The Fed achieves its target. a. If initially the price level is 100
a. Calculate the percentage return on the security if the payoff to the security in one year is $1,000, $1,500, $2,000, or $2,500. b. If each of the outcomes in part a is equally likely, calculate the expected return on the security. c. Calculate th..
What is the probability that the annual return in a given year will exceed 15%? Suppose that the fund managers change the holdings of the fund such that the mean becomes 15% and the standard deviation becomes 5%. What are the new values for the pre..
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