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Q. Suppose that we modify the Solow growth model by allowing long-run technological progress. That is, suppose that z = 1 for convenience, and that there is labor-augmenting technological progress, with a production function Y= F(K,bN), where b denotes the number of units of "human capital" per worker, and bN is "efficiency units" of labour. Charter b' denote future human capital per worker, assume that b' = (1 + j) b, where fist he 12. Growth rate in human capital.
Show that the long run equilibrium has the property that k** = ~ is a constant. Illustrate the rate that does aggregate output, aggregate investment, aggregate consumption as well as per- capita income grow in this steady state, Explain?
Write a formula which describes the marginal product of labour in the short run as a function of the amount of labour used.
Assume the United States economy is in a deep recession explain how does this recession affect the US major trading partners such as China, Canada and Japan.
Explain briefly why TOTAL profit (profit from entire sales) is still likely to be lower with this pricing scheme than with perfect price discrimination, despite charging a fixed fee equal to the entire Consumer Surplus of a typical consumer?
q.assume that in 1998 the following prevails in the republic of nurd y200 g0 c160 t0 s40 iplanned30assume that
What are price indexes designed to measure. Outline how they are construed. When GDP and other and other income figures are compared across time periods.
Compare the magnitude of the percentage in the rental on capital with percentage change in wage in part 1. Use notation format.
Given your results from above, what is the equation for the Chunzheng's long-run total cost curve as a function of quantity Q. How much does it cost to produce 27,000 units?
Which of the following recieves government subsidies that are in place to protect the population rather than the economic reason.
q. select two of the following topics to discuss within the discussion thread1. converse how average cost narrates to
Elucidate how each change mentioned in the article impacts upon the aggregate expenditure model.
Illustrate what would you do shut down or continue to operate. Use hypothetical numbers to explain.
These 3 basic trade-offs include which goods or services are to be created, how to create them, also who gets them.
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