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Assume an economy without any technological progress. (5 points)
1. Using a Solow model with an alpha parameter of 0.5 determine the steady state amount of capital stock (K*), total output (Y*) and consumption (C*) when savings is 20%, population grows at a rate of 1% per year, and capital depreciates at a rate of 10% per year.
2. Repeat the exercise for a savings rate of 20% and depreciation rate of 10% but now assume that population grows at a rate of 4% per year. What do you observe as compared to your answers in part “a”? Are these results as expected? Explain
The current market price is $7.50. At her profit-maximizing level of production, the average variable cost is $8.00, and the average total cost is $8.25. Mrs. Smith should.
A hurricane in South Carolina damages the cotton crop.
Given that the value of individual production of Carol and Tessie is zero, while their combined production is positive, we may conclude that:
As a project manager, dealing with conflict is part of the job. There are many sources of conflict; one source that is often overlooked is the manager. Based on the Week 4 reading and lecture, what managerial actions can cause workplace conflict.
What is the initial effect of the tax reduction on aggregate demand? What additional effects follow this initial effect? What is the total effect of the tax cut on aggregate demand?
1. discuss several economic events that would increase a countrys willingness to trade.2. in the offer analysis why
brewster industries bi makes turn signals for automobiles. bis brilliant founder dr. ava p. brewster has recently
1.describe developing countries and how they differ from industrial market economies. how can international trade aid
Country A has 2000 units of labor and can produce two goods, manufactures and food. A’s producers take 2 units of labor to produce one unit of manufactures and 5 units to produce one food unit. Country B has 2500 units of labor and takes 5 units of l..
monetary policy is difficult when interest rates are low. for example in the early 2000s the bank of japan lowers the
The Medicare Payment Advisory Commission recently voted to suggested to Congress to institute a set of pay for performance incentives for providers serving Medicare patients.
Suppose that federal law requires that the price be the same in both locations. What price will Kayla charge now? How many gallons will be purchased? And what happens to her profit?
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