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Consider the Solow Growth Model with technology given by Y = zF(K, N) = zK^(1/2)N^(1/2) , savings rate= 0.2, and depreciation rate=0.1. Both population growth and technological growth are 0. (Note: lower case letters denote per capita variables e.g. y=Y/N). (a)What are the steady state values of k, y, c and i ? (b) What are the values of k and y if the economy operates at the "Golden Rule" level of capital accumulation? (c) Imagine that you want to "drive" this country in the "Golden Rule" levels of k and y. What is the saving rate that you have to impose? What would be the level of c? (d) Assuming that you impose the new saving rate. What would be the immediate and long run effects on c, k, and y? Draw the path of these variables.
An economy starts off with a per capita GDP of $5000. How large will the per capita GDP be if it grows at an annual rate of 2% for 20 years? 2% for 40 years? 4% for 40 years? 6% for 40 years?
If we can get foreigners to give us real goods and services and talk them in to taking pieces of paper in return why should we want anything different?" Do you agree or disagree with this statement?
Short-run aggregate supply curves reflect an inverse relationship between the price level and the level of real output. The long-run aggregate supply curve assumes that nominal wages are fixed. In the long run, an increase in the price level will res..
What would be the socially optimal number of firms if F = 0? What does this suggest about the likelihood of F = 0? What is the role of F in determining the optimum number of firms? The delivery cost?
Provide an example when it could be appropriate to conduct a time-series or cross sectional data. Discuss the potential problem that may arise with your example and identify strategies for minimizing the impact of the potential problem.
Conduct an Internet search of the basic course structure for your state: To conduct this search, enter the words "court structure" followed by the name of your state into your web browser. Prepare a brief outline of the court structure in your state...
In which directions are they pushing or pulling the U.S. economy. Also, do you think the gap between real GDP and potential GDP will widen or narrow.
Which MACRS (Modified Accelerated Cost Recovery System) depreciation method is used to provide a lesser extend for tax deduction purpose?
An office supply company has purchased a light-duty delivery truck for $15,000. It is anticipated that the purchase of the truck will increase the company’s revenue by $10,000 annually, while the associated operating expenses are expected to be $3,00..
q1. what is the adam smith statement about invisible has well as by m. parkin book micro economics?q2. why is it
What is the point forecast of sales in the next time period? What is the 95% forecast interval for the next period’s sales figure? (use z = 1.96)
What government policies are available to reduce domestic demand in the medium run. Identify which components of domestic demand each of these policies affect.
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