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In a country, output is produced with labor and physical capital. The production function in per-worker terms is y = k1/2. The depreciation rate is 2%. The investment rate (γ) is determined as follows:
γ = 0.20 if y≤ 10
γ = 0.40 if y >10
Draw a diagram showing the steady state(s) of this model. Calculate the values of any steady state levels of k and y. Also, indicate on the diagram and describe briefly in words how the levels of y and k behave outside the steady state. Comment briefly on the stability of the steady state(s)
Suppose that the price of pumpkins in Austin has fallen by 10%, while total spending on pumpkins in Austin has gone up by 2%. Which of the following could explain those changes
Microeconomics BACC107, In the study of Microeconomic, the question "How to produce" is one of the basic economic problems (BEPs). Using an example, discuss this concept. In your discussion, you must also discuss the rationale behind the principle o..
A bond with no expiration date has a face value of $10,000 and pays a fixed 10 percent interest. If the market price of the bond rises to $11,000, the annual yield approximately equals.
1.using the graph show what happens to the aggregate expenditures curve ae1 when autonomous expenditures fall to
Employ the following data for the pure monopoly to compute the firm's: (a) total revenue, marginal revenue, marginal costs, and average total cost
discuss the characteristics of monopolistic market in detail. name five different companies that belongs to this
1.Government policymakers may be elected politicians or appointed experts. Describe some of the specific decisions made by policymakers that affect you personally 2. Discuss the motivation of policymakers. Are they held accountable by voters
Differentiate the way Keynes and Friedman approach the economy. Determine the key differences and similarities?
Country A and Country B have identical population growth rates of 1 percent per annum, and everyone in each country always works 40 hours per week. Labor productivity grows at a rate of 2 percent in Country A and a rate
General Electric has frequently placed managers together to work on teams. Often the work project is only for a short period of time.
Farmers are often heard to complain about the high costs of machinery, labor, and fertilizer, suggesting that these costs drive down their profits
The monopolist charges a single price for output, how much will he produce, what price will he charge, and what profit will he earn?
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