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Suppose in the Solow growth model that s=.25, n=.02, d=.08, and f(k)= K^3
A)Suppose that z=2. What is the steady state level of capital per worker and consumption per worker ?B) Now, suppose that initially z=2 and the economy is in the steady state you calculated in part a. . Then suppose that z falls to 1.8 permanently. What is the new steady state? Determine capital per worker znd output per worker in each of the first 10 periods after z falls, and show this in a figure.C) Now suppose alternatively that z=2 initially, the economy is in the steady state, and then z falls to 1.8, but now for only 10 periods. Then z=2 forever. Determine the path followed by capital per worker and output per worker in the first 10 periods after z falls. Again, show this in a figure.D) What conclusions can you draw from your results in part a through c?
Collect an article from an Australian newspaper that relates to the current Australian macro-economy or a macroeconomic issue or problem. In a paragraph indicate which section of the course it applies to, why you selected the article and provide a br..
Assume that initially the goods and services market is in equilibrium at potential of output and that the government budget is balanced,
Disclose what the book suggests once the short-term rate is much cheaper than the long-term in interest rate. Substantiate whether or not that is a normal occurrence or a cause for alarm.
Identify the incentives to produce and price the product for a traditional monopoly and natural monopoly. Is it best for society, i.e., does society receive more welfare, to have natural monopolies provided by a private firm or by the government.
A firm, which is the only supplier of a good located in a particular town, is accused of engaging in anticompetitive tactics in order to protect its monopoly position in that town. As part of its defense, the firm has argued that the geographic an..
There is a shortage of college basketball and football tickets for some games, and a surplus occurs for other games. Explain why do shortages and surpluses exist for different games.
A mathematically fair bet is one in which amount won will on average equal the amount bet,for example, when a gambler bets say, $100 for a 10% chance to win $1000
Find out average fixed costs when the firm produces 50 widgets per day. Find out average total and variable costs for producing 49 widgets.
Eagle Properties, a real estate investment and sales firm, presents a form contract to its customer Floyd, who wants to buy a certain quarter acre of land in a proposed housing subdivision that Eagle is marketing.
What strategy was Avon pursuing until the mid-2000s What were the advantages of this strategy What were the disadvantages What changes did Andrea Jung make in Avon's strategy after 2005 What were thebenefits of these changes? Can you see any drawbac..
What would be the advantages if the government eliminated all purchases that are financed by borrowing?
Should the Fed be independent or would we be better off with a central bank under the control of the president or Congress.
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