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Suppose that an economy’s production function is cob-douglass with CRS(Y=AK^α * L^1-α ) and α=.3
a. What fractions of income do capital and labor receive?
b. Suppose that labor force increases by 15 percent. How much does output increase or decrease by in percentage terms? The rental price of capital? The real wage?
c. Suppose that the capital stock decreases by 15 percent. How much does output increase or decrease by in percentage terms? The rental price of capital? The real wage?
d. Suppose that a technological advance raises the value of the parameter A by 15 percent. How much does output increase or decrease by in percentage terms? The rental price of capital? The real wage?
The average corn price received by farmers in 1950 was $1.52 and in 2014 it was $4.11. The Consumer Price. Index (CPI) with a base period of 1982 through 1984 were 24.1 and 236.7 for the same years, respectively. What are the corn prices for those ye..
What is the present worth of each of the deals? Your company uses a MARR of 15% for this sort of analysis.
Can you share the economic development strategies also quote some examples of Elucidate how Singapore also US use them.
What is the current requirement of the law in the US in terms of the payroll tax levied on firms and workers? Based on our discussion in the previous chapters, what are the empirical estimates of the elasticity of labor supply and labor demand?
A growing economy means that the economy is producing more also more stuff, either since it has more resources.
This declaration would perhaps receive general agreement, but it is not always clear exactly Illustrate what concludes when something is in the public interest.
An engineer designs an improved light bulb. The previous design had an average lifetime of 1200 hours. The mean lifetime of a random sample of 2000 new bulbs is found to have a mean lifetime of 1201 hours.
q.1. real wages and productivity-are workers paychecks keeping up? over the long run traditionally real wages grow at
Why were the creation of the Interstate Commerce Commission (ICC) and passage of the Sherman Anti-trust Act of 1890 so important to the creation of a fair business climate?
q.presume a worker with an annual discount rate of 10 which is currently resides in pennsylvania and is deciding
A company bought a machine with an initial value of $120,000 with life time of 8 years and a salvage value of $12,000, assuming ? =0.60 find the book value at year six using the declining method.
Explain how GDP is measured in your country - explain who would benefit directly and who would lose directly from such restrictions.
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