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a. What does empirical evidence suggest regarding the extent to which people substitute leisure over time?
b. What does this suggest regarding the role of intertemporal substitution in propagating shocks throughout the economy and regarding the ability of small technology shocks to generate large output shocks?
What is wrong with this specification? Why is least squares unable to estimate the parameters in this model uniquely? What happens when you try to estimate this model using STATA? Verify that the coefficients on education and experience variables f..
Consider the expanding variety model of Section 13.1 and denote the BGP growth rates of consumption and total output by g∗C and g∗, respectively.
Newton exports all their products outside the city and Garfield only sells their products within the city. Newton experiences growth, so it hires 100 more workers, all of whom come to reside in city A. Because of this, Garfield - at the first stag..
The manager of a national retailing outlet recently hired an economist to estimate the firm's production function. Based on the economist's report, the manager now knows that the firm's production function is given by Q=K^(1/2) L^(1/2)
Based on the information below about the production structure, explain whether the technology used in each part demonstrates constant returns to scale (CRS) or increasing returns to scale (IRS) property.
where P is the price in dollars per litre, Qd is the quanity demanded in millions of litres per year, and Qs is the quanity supplied in millions of litres per year. what is the price elasticity of demand atthe equilibrium point
if the interest rate is 10%, what is the present value of a security that pays you $1100 next year, $1210 the year after, and $1331 the year after if the security sold for $3500, is the yield to maturity greater or less then 10% Why
in 2003 the market price for a 3000 square foot home in south tampa florida was 350000 and 358 new homes were built. in
Find the expected value of X, find the variance of X and what is the conditional distribution of Y given that X=3?
100 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from $1 to $2 is unit-elastic (Es 51.0). So how many popsicles will be sold each day in the short run if th..
Country A and country B have identical population growth rates of 1% per annum, and everyone in each country always works 40 hours a week. Labor productivity grows at a rate of 2% in country A and at a rate of 2.5% in country B.
For a p+-n silicon junction, Na= 1 × 1017 cm-3 in the p-side and Nd= 1 × 1015 cm-3 in the n-side. Determine the depletion capacitance per unit area of cm2 at -4V.
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