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Consider an economy with population growth at rate n = :03, technological growth at rate g = :02, depreciation at rate = :05, and a
savings rate of s = :30. The economy is at steady state.
(a) What is the rate of growth of aggregate income Y in this economy? Show your work.
(b) What is the rate of growth of the aggregate capital stock K in this economy? Show your work.
(c) What is the rate of growth of the capital-labor ratio K/L in this economy? Show your work.
(d) What is the rate of growth of per-capita income Y/L in this economy? Show your work.
(e) What is the capital-output ratio K/Y in this economy? Show your work.
(f) List three policies that can improve the economy's steady state income per capita (y).
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For what levels of output does your firm have economies of scale? Is this a case for natural monopoly Why (b) Now assume you are a monopolist, and the demand for your product is P=2000-5Q. What price will you charge How much deadweight loss will ..
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One hundred compressors of 200 H.P. rating are being considered for purchase by the state highway department. The consumer price index was 400 five years ago and is 520 today. The cost of 150 H.P. compressors bought five years ago is as follows
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The demand for Wanderlust Travel Services (X) is estimated to be Qx = 22,000 - 2.5Px + 4Py - 1M + 1.5Ax, where Ax represents the amount of advertising spent on X and the other variables have their usual interpretations. Suppose the price of good X..
Suppose it is known that 10% of people who play poker machines have a gambling problem. Suppose it is also known that 20% of the population play poker machines and 5% of the population have a gambling problem.
Given that monetary policymakers, firms, and workers all recognize that the decline in the real exchange rate is only temporary and given the three policy responses described in part d of 580 Chapter 17 New Classical Macro Confronts New Keynesian ..
The economy of Sonrisa has 1000 people in three income categories: poor, middle class, and rich. The poor ear $500 per year and have to spend it all to meet their consumption needs. The middle class earn $2,000 per year, of which $1,500 is spent a..
Explain how you could make a profit from this situation. What would be your profit per bushel of rice If other people exploit the same opportunity, what would happen to the price of rice in Japan and the price of rice of rice in the United States..
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