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In a country, output is produced with labor and physical capital. The production function in per-worker terms is y=k^1/2. The depreciation rate is 2%. The investment rate (&) is determined as follows:
&=0.2 if y<=10
&=0.4 if y>10
Draw a diagram showing the steady state(s) of this model. Calculate the value 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 the own rice elasticity of demand for good X is -2, its income elasticity is 3, its advertising elasticity is 4, and the cross-price elasticity of demand between it and good Y is -6. Determine how much the consumption of this good will cha..
Suppose that in the beginning of the year, the exchange rate between US-dollar and the euro is exactly 2 $/EURO. At that time, a one-year US treasury bill yield an interest rate of 5%, while a similar German treasury bill yield 3%.
a, If the prie of output is p>c, how much should a typicalfirm produce can there be a competitive equilibrium in this case b, If the price of output is p
An investor bought 100 shares of Omega common stock for $9000. He held the stock for 9 years. For the first 4 years he received annual end-of-year dividends of $800. For the next 4 years he received annual dividends of $400.
Consider a couple's decision about how many children to have. Assume that over a lifetime a couple has 200,000 hours of time to either work or raise children. The wage is $10 per hour. Raising a child takes 20,000 hours of time.
Use a model with horisontal productdifferentiation. Suppose that two firms compete. They are situated at opposite sides on a linje with length 1. Firm 1 in point 0, and firm 2 in point 1. The konsumers transport costs are linear in the distence to..
The following table gives the joint probability distribution between employment status and college graduation among those either employed or looking for work (unemployed) in the working age U.S. population for 2008.
An asset has an initial cost of $200,000, a salvage value of $25,000, and a recovery period of seven years. a. Find its book value after six years using the MACRS method. b. Find its book value after six years using the double declining balance metho..
On a diagram, draw the marginal cost curves for the two factories, the average and marginal revenue curves, and the total marginal cost curve (i.e., the marginal cost of producing Q = Q1 + Q2). Indicate the profit-maximizing output for each factor..
The Annual Benefits may be assumed to be one tenth of the decade benefits. The O & M Cost of the project is estimated to $15000 per year. Assume a 50 Year Analysis Period with no net project salvage Value. Purpose 1 decade 2 decade 3 decade 4 deca..
A loan of P0 which accrues an interest i per period is to be paid of with a uniform gradient annuity with initial payment A and gradient G over n periods. Thus, the change in the amount of principal is governed by Pn =Pn-1(1+i)-A0 -(n-1) G (1)
American Airlines produces round-trip transportation between Dallas and San Jose using three inputs: capital (planes), labor (pilots, flight attendants, and so on), and fuel. Suppose that American's production function has the following Cobb-Dougl..
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