Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Using production function and MPK diagrams, answer the following questions. For simplicity, assume there are two countries, a poor country and a rich country.
1. Assuming that poor and rich countries have the same production function, illustrate how the poor country will converge with the rich country. Describe how this mechanism works.
2. In the data, countries with low living standards have capital-to-worker ratios that are too high to be consistent with the model used in.Describe and illustrate how we can modify the model use in to be consistent with the data.
3. Give your assumptions from , what does this suggest about the ability of poor countries to converge with rich countries? What do we expect to happen to the gap between rich and poor countries over time? Explain.
4. Using the model from , explain and illustrate how convergence works when the poor country has a marginal product of capital that is higher than that of the rich country.
International trade has pros and cons. Economists generally support free trade. International trade has played a significant part in promoting economic development and technology transfer among countries. There are also various arguments in favor ..
Suppose that the banking system is in reserve equilibrium. The Fed conducts an open market buy of Treasury securities in the value of $1 billion.
Institutional economics, especially applied to metropolitan areas, highlight problems with human capital theory and help us better understand wage differentials. Explain factors that shape wage differentials by metropolitan areas.
what policy did the fed and other central banks around the world use to try to stabilize the economy during the
A colleague tells you that he can get a business loan from the bank, but the rates seem very high for what your colleague considers a low risk loan. a. Give an adverse selection explanation for this, and offer advice to your friend on how to solve ..
You are the manager of a firm that sells its product in a competitive market at a price of $50. Your firm's cost function is C = 40 + 5Q^2. Your firm's maximum profits are: A. 125, B. 250, C. 100, D. 85 6. A perfectly competitive firm faces:
Give an example of how you would use this information to set the price for your product in the market place and explain one factor in detail about how shifting demand and supply curves makes market demand estimation difficult
Graph the demand and supply curves. What is the equilibrium price and quantity in this market and if the actual price in this market were above the equilibrium price, what would drive market toward the equilibrium?
q1 case studyon the advice of some of its wealthiest alumni clare college has borrowed pound15m on a 40-year inflation-
A 1996 nill reforming the federal goverment's antipoverty programs limited many welfare recipients to only two years of benefits.A. How does this change affect the incentives for working
Firms in a competitive market are unable to dictate the price for which they sell an item for and over a long period of time will be unable to make an economic profit.
1 what are the differences between the terms ell and lep?nbsp what is problematic with the term lep?nbsp is there a
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd