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1. Assume an economy has a production function of:
Y = AK.35L.65 with: A = 100, K = 1,000 and L = 400. There is no labor force growth and technology remains constant.
(a) Assume that the capital stock in this economy depreciates at 10%/year and the savings rate out of GDP is 40%. What would be the steady state level of y, c, s, k?
(b) Derive the golden rule savings rate for this economy. (Hint it will be 35 percent) What would be the new level of steady state y, c, s, k if the economy moved to the golden rule savings rate?
Calculate the Life Cycle Cost of failing your year. Assume 0% inflation and a working engineering career estimate of 30 years. Assume that you will make $125,000 during your 30th year of work.
Briefly explain how each of the following changes the money supply.a. the central bank buys bonds b. the central bank raises the discount rate
The concepts of demand elasticities, analysis of market structures, pricing, and barriers to entry. Discuss how this type of knowledge can provide a better understanding of how firms create and sustain competitive advantage. In your answer, make refe..
Case study: rent ceilings in New York City. Suppose the demand and supply curves for rental housing units have the typical shapes and that the rental housing market is in equilibrium. Then, government establishes a rent ceiling below the equilibri..
Is there a way in which a plan could provide incentives to the Farm members that would have a good chance of raising productivity and lead to increased agricultural output while at the same time eliminating subsidies?
Suppose that the market demand curve is P=1000-0.08Q and the market supply curve for some industry is P=0.02Q+100.
For any given demand curve for the right to pollute, the government can achieve the same outcome either by setting a price with a corrective tax or by setting a quantity with pollution permits. Suppose there is a sharp improvement in the technolog..
Could anyone find out how the Consumer Price Index (CPI), the primary measure of inflation used by the government, is calculated. Why might this method not reflect the real cost of living increase for the average person.
Assume an economy's real GDP is $30,000 in year 1 and $31,200 in year 2. Illustrtae what is the growth rate of its real GDP.
According to a study, the price elasticity of shoes in the United States is 0.7 and the income elasticity is 0.9a. Would you suggest that the Brown Shoe Company cut its prices to increase its revenue b. What would be expected to happen to the total q..
What happens to the demand for pizza if the price of that product decreases? What happens to the supply of tomatoes if the wages of tomato pickers increase?
As Burger King continue, expand, or reduce current operations in order to maximize profits. Explain your reasoning.
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