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Suppose an economy described by the Solow model is in steady state with population growth n of 1.8 percent per year and technological progress g of 1.8 percent per year. total output and total capital grow at 3.6 percent per year. suppose further that the capital share of output is 1/3. if you used the growth accounting equation to divide output growth into three sources- capital, labor, and total factor productivity- how much would you attribute to each source? compare your results to the figures we found for the united states in tables 9-2.
Under perfectly competitive conditions, marginal revenue is. A firm's break-even point occurs where. Consumer surplus is the area above the demand curve and below the equilibrium price. Perfect competition assumes that all products are identical and ..
Assume Al and Bob are fans of the Chubs. Their willingness to pay for Chubs’ preseason and regular-season games is noted below. Pre-Season: Al = 200 Bob = 300 Regular-Season: Al = 800 Bob = 600 If the Chubs were to sell the pre-season and regular-sea..
As you know, the Affordable Care Act expands coverage for low-income US citizens by giving them access to Medicaid. As you also know, not every state has taken advantage of this Medicaid expansion. What economic argument can you make for expanding Me..
Calculate the net cash flows for the year 0 and the years 1 thru 6. What is the NPV of the project? What is the modified internal rate of return for this project?
Money Demand =8750-500i Loanable Funds Demand = 2000 –100i Initial Reserves: $500 Y1=15600 Y2=14000 Reserve Ratio: 8% MPC=0.8 Tax Revenue: $1100 Govt Purchases: $1000 Suppose the Government is implementing fiscal policy. What is the new level of Gove..
Which of the following is NOT an incentive scheme to ensure that workers do a good job?
In the United States, the majority of individuals who have private health insurance
Give an example of how an organization may use household data and individual data as part of their CRM strategy. How would these data sets affect their marketing strategy?
Let the random variable X follow a normal distribution with U(mu) = 50 and S2 = 64. Find the probability that X is less than 55. The probability is 0.2 that X is greater than what number?
A company hires management trainees for entry level sales positions. Past experience indicates that only 20% will still be employed at the end of nine months. Assume the company recently hired six trainees. What is the standard deviation of the numbe..
A 4,000 gallon storage tank was purchased for $240,000 12 years ago. How much would a 12,000 gallon storage tank cost today if the power-sizing exponent were 0.73 and the cost index increased from 150 to 250 over the last 12 years. Express your answe..
Suppose the logging industry forms a union that requires longer apprenticeships and charges high fees to its members. Discuss the reasons why loggers might place these stipulations on union members. What are the loggers hoping to achieve?
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