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Q1. Derive step by step the steady state level of capital and output per worker for each one of the models below: basic so low model, so low model with population growth, so low model with human capital. Use your results to get an expression for the ratio of income per worker between countries i and j for each one of these models.
Q2. Summarize in words the predictions and limitations of the theoretical framework developed for the first exam: that is the predictions for the effect of capital accumulation, population growth and human capital when explaining income difference across countries as well as differences in growth rates.
Why the adverse effect on output is larger when the Fed is decreasing money supply than holding it constant.
Now illustrate what is the price elasticity of demand. Illustrate what is the cross-price elasticity of demand.
Calculate the elasticity for each variable at that point and briefly comment on what information this gives you for each variable. Should this firm be concerned if macroeconomic forecasters predict a recession? Explain your answer.
Differentiate the equilibria of model. Also the classification should be a function of the bliss point of the candidates.
Illustrate what is the maximum amount by which funds provide can be increased as a result of bank A's new loan
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitute's one product for another. Use examples to illustrate.
A firm with a U-shaped average cost curve finds that its costs exceed its revenues when it sets price equal to marginal cost.
Results of drilling are 15 dry holes, 12 gas producers, 18 oil wells, and 20 wells producing both oil and gas.
Elucidate the entities affected by industrial regulation in terms of market structure. Elucidate why industrial regulation affects those entities you identified.
Suppose apples also oranges are substitute. Presume apple growers launch a very successful advertising campaign that convinces consumers apples are a better product.
Can you detect any difficulties that the Federal Reserve System might encounter in implementing monetary policy.
The HHI for automobiles is 2,350, for sporting goods is 161, for batteries is 2,883, and for jewelry is 81. Which of these markets is an example of monopolistic competition?
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