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Technology transfer in the Solow model: One explanation for China’s rapid economic growth during the past several decades is its expansion of policies that encourage “technology transfer.” By this, we mean policies—such as opening up to international trade and attracting multinational corporations through various incentives—that encourage the use and adoption in China of new ideas and new technologies. This question asks you to use the Solow model to study this scenario. Suppose China begins in steady state. To keep the problem simple, let’s assume the sole result of these technology transfer policies is to increase A by a large and permanent amount, one time. Answer the following questions: (a) Analyze this change using a Solow diagram. What happens to the econ- omy over time? (b) Draw a graph showing what happens to output in China over time. What happens to output per person in China in the long run? (c) Draw a graph showing what happens to the growth rate of output in China over time. Explain. (d) Discuss in a couple of sentences what your results imply about the effect of technology transfer on economic growth.
Identify specific products which have above average usage for African American, Asian Americans and Hispanic Americans? Brands that have higher than average purchase for each group for African Americans, Asian Americans and Hispanic Americans?
Quigley Inc. is considering two financial plans for the coming year. Management expects sales to be $301,770, operating costs to be $266,545, assets to be $200,000, and its tax rate to be 35%. Under Plan A it would use 25% debt and 75% common equity.
If the natural rate of unemployment is 4 percent and the actual rate of unemployment is 5 percent, Okun's law states that the output gap is ________ and the economy is in a(n) ________.
Your bank has total assets of $220 million and a capital-to-total assets ratio of 7 percent. You learn that your bank’s entire $20 million loan package to Central American nations will be written off as bad loans. Will your bank survive this crisis? ..
Assume that a nation’s marginal propensity to consume is 0.9, and that its potential GDP exceeds its actual real GDP by $5000. By how much should that nations government change taxes in order to completely close that GDP gap?
For years, you were the owner/operator of a small gift shop in a remote rural area with no competition nearby. As such you were making above average profits every year. Consequently, new competitors were attracted to your market and eventually you fo..
Amazon has entered international markets with sites in a number of other countries. The company believes that an aggressive international strategy is essential to its continued growth. Has Barnes & Noble take the same approach? What are some noticeab..
Assume that the Fed decided engages in an open market purchase of $100 million dollars. If the required reserve ratio is 10%, and if banks hold an additional 2% of their assets in bonds, calculate the total change in the money supply.
The reason that the increase in population growth in the 19th and 20th centuries did not lead to famine as Thomas Malthus predicted was because
A firm has a production function, q=AL^a K^(1-a), where 0
Do you agree with the quote "Business social responsibility should not be coerced; it is a voluntary decision that the entrepreneurial leadership of every company must make on its own," Why or why not?
Thus, the second investment was $120, the third investment $140, and so on. If she continues series of investment 20 years, what will be the value of the investments at the end of that time?stock? d. None of the chemicals are in stock?
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