Marginal rate of substitution

Assignment Help Business Economics

Reference no: EM137503

Q. 1. Elucidate how changes in

i. population growth rate

ii. Savings rate,

iii. Technology growth rate change the stationary state in a Solow growth model.

2. Elucidate how the economy behaves out of the stationary state in a Solow model.

3. Which of facts does the Solow model Clarify? Clarify how.

4. Elucidate how can you get endogenous growth in a model with human capital?

5. Elucidate how as well as why are externalities important in an endogenous growth model?

6. Elucidate what is the relationship between the marginal rate of substitution between leisure as well as labor as well as the marginal product of labor in the Robinson Crusoe model?

Reference no: EM137503

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