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Assume a continuous-time solow growth model with no technical progress. The economy is closed and there is no government sector. Labor supply is given by L_t = e^nt, n>0. The average propensity to save out of GDP is s,, with 0<s<1. GDP is given by a Cobb-douglas aggregate producntion function Qt=AK^aL^(1-a), where A is constant. Solve for steady state of kt where kt=K/L
Suppose the Solow model from this question applies to two seperate economies i=1 and i =2. The economies are the same except for A1>A2 and s1<s2. Let c(i)* and y(i)* be the steady state consumption per labor and output per labor for economy i=1,2. Show how C(1)* comparse to c(2)* and how y(1*) compares to y(2)*. (Assume at equilbrium for both k of each economy such that k1=k2). Then solve for k1>k2 and k2>k1.
Please note that I already know how to solve for steady state (I don't need help solving for steady state) and can solve for when k1*=k2* and when k1*>k2*, but having trouble with when k2*>k1*.
How do you interpret the effect of immigrant status on wages when the model is Log wages regressed on immigrant dummy, and an immigrant dummy interaction
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Determine the economic activity that takes place in Underground Economy have any impact upon any Economic Indicator.
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Over the last one year the Four Winds Novelty Corporation has recorded its internet sales and its monthly total variable costs for a particular novelty item as demonstrate in the following table.
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Hook, Inc., is an international manufacturer of bulk antibiotics for the animal feed market. Dr. Mike Jones, head of marketing and research, seeks your advice on an appropriate pricing strategy for Pharmed Caplets, an antibiotic for sale to the ve..
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