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Exercise 11: Comparative statics in Solow's Model Explain how the following events affect output, capital and consumption per unit of labor in the long run and along the transition according to Solow's Model: a) The destruction of 30% of the capital stock because of a natural disaster. b) A permanent increase in the immigration rate. c) A permanent increase in the labor market participation rate. d) A permanent increase in the depreciation rate. e) A temporal increase in the savings rate. f) A permanent increase in the savings rate. Exercise 13: Growth and capital over-accumulation Suppose two countries, A and B, with the same production function Y = Kα L 1-α . The value of α is 0.30, the growth rate of population is 2% and the depreciation rate is 5%. a) Show that with price-taking firms the share of labor must be 1-α . b) Compute the stock of capital, output and consumption per unit of labor in the steady state if the savings rates were 25% for country A and 35% for country B. c) Compare both economies to the Golden Rule
the ceo of always ready round tire has decided to open a battery division. he thinks that batteries would sell well
The demand and supply equations in a market are given as Q = 30 - 2P and Q = 10 + 2P. If the government imposes a tax of $0.50/unit on the suppliers,
i critically examine the effectiveness of various approaches that may be used to reduce macroeconomic instability. your
evaluate the approaches by company executives to align an organization for future growth and success. give your opinion
The federal Insurance Contributions Act tax is a payroll tax that finances Social Security and MEdicare. By law, employees each contribute 7.65 percent of the workers wages toward the events.
Describe the likely effects on the total welfare (surplus) of society of the status quo, i.e., do nothing and let the market decide.
What share will be paid by the consumer in the long run? How about the short run? Provide some intuition for why these are different.
Consumers reduce autonomous consumption.
1. a taxicab company maintained accurate records of the expenses for one of its automobiles from january 1 1996
Using the following information complete the cash flow budget for the months of January, February and March. Be sure to include GST in the rows provided. GST at the end of December 2006 was negative $2500.
i would like to know more about dead-weight loss and externalities what is their relationship and the causes and
assume that the potato chip industry in the northwest in 2007 was competitively structured and in long-run competitive
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