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Consider two countries Frugalia and Prodigalia (we can call F and P). In both countries the production function is Cobb-Douglas: Y=A*(K^0.5)*(N^0.5). The population growth rate is 0.2, physical capital depreciates at the rate of 0.3, and A = 10. In F, the savings rate Sf = 0.6 and in P it is Sp = 0.4.
a. write the production function in terms of output per capita
b. find the stready-state values of capital-labor ratio(K/N) in both counties.
c. find the steady-state values of output per capita(Y/N) in both counties.
d. in which counties is the marginal product of labor higher in the steady state?
e. in which of the counties is consumption precipitate higher in the steady state?
If in some country personal consumption expenditures in a specific year are $50 billion, purchases of stocks and bonds are $30 billion, net exports - what is the country's GDP for the year?
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How can the organization use technology to change this balance for an advantage?
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The slope of the SP curve is determined in large part by the
q1. what happened why did you leave the question and suddenly demand higher price?q2. how do i calculate the change in
There is a potential entrant, who needs to pay a sunk cost of f to enter in this market. Firms may produce any quantity that does not exceed its capacity.
Explain the concept of more is better satisfied for both goods. Elucidate as C increases the MUC increase, decrease or remain constant.
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