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(a) Show that in the model in Section 18.3.2, if population grows at some constant rate n > 0 in each country, there does not exist a steady-state equilibrium.
(b) Construct a variation of this model along the lines of the semi-endogenous growth models of Section 13.3 in Chapter 13, where the strong scale effect is removed and there is long-run growth at a constant rate (when population grows at the rate n > 0 in each country).
(c) Provide a full characterization of the steady-state world equilibrium in the case described in part b.
Equate the new supply and demand functions and solve for the new equilibrium price and quantity.
What can you infer about the rise in unemployment rates over this period? Was it caused by a net loss in the number of jobs or by a large increase in the number of people seeking jobs?
At the minimum price, the quantity of powdered milk supplied is____ million units, the quantity demanded is_________ million units, and the excess supply is _______million units.
compute the three-firm and four-firm concentration ratios for each sector, and rank the sectors by degree of industry concentration.
What is the main reason for the estimation of the error in regression models
In the state of California, rice growers burn their field stubble to sanitize their fields. The field burning causes serious air pollution. The alternative sanitizing method costs $150 per acre.
Pulp can be bought in the open market for $25 per ton. The marginal cost of converting pulp into paper is MC= 5 + 5Q, and the demand for paper is P = 135-15Q. Calculate the marginal cost of paper if the company produces its own pulp.
Suppose you are the marketing manager for the Fruit of the Loom. An individuals' inverse demand for Fruit of the Loom women's underwear is estimated to be P = 25 - 3Q (in cents). If cost to Fruit of the Loom to producing women's underwear is C(Q) ..
Now the gov decided to pass a law that the cost to rent should not exceed $375 per apartment. In order to minimize the damage such a law will have on apartment owners, the government decided to allow landlords to force.
In a hypothetical economy, the annual velocity of money is 10,and level of real output is $800 billion. In year 1, the economy'smoney supply is $100 billion and in year 2 it is $112 billion.Calculate the rate of inflation between years 1 and 2
compute the r and y in which the two markets are clearing.
Can you rank the roles in order of importance? If yes, do so and explain your ranking. If you could not rank the roles, explain why. Is it because all roles are equally important?
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