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Consider the previous exercise and suppose that the introduction of social security induces the individuals to retire in period 2. So they receive no labor income in period 2.
a. What is the new optimal consumption in each period? How much do the consumers save? How does it compare with previous exercise? Explain.
b. Now building on this example, should the actual social security system lead to early retirement? Why or why not? What is the evidence on the impact of social security on the retirement decision in the United States and elsewhere?
Consider 2 countries, Avataria and Twilightia, which can be described by the Solow model. Avataria has a capital-labor ratio that is initially twice as big as that of Twilightia, but neither country is yet in a steady state. Both countries have th..
What can you say by examining the graph? On average, do the two variables evolve in opposite directions?
Given the following annual information about a hypothetical country, answer questions a through d. Billions of Dollars Personal consumption expenditures $200 Personal taxes 50 Exports 30
In order to have money available for replacing their family vehicle, a couple planned to have $220,000 available in 10 years by investing. If they plan to increase their savings by 10% each year, how much must they invest in year 1 if they expect ..
you have been appointed as chair of Economic Advisors in Fantasyland. Income is currently $600,000, unemployment is 5 percent, and there are signs of coming inflation. You rely on a research assistant for specific numbers.
a uniform plank is supported by a fixed support at A and a drum at B that rotates clockwise. the coefficients of static and kinetic friction for the two points of contact are as shown.
What are the economic implications of this action in the labor markets? Use graphs as needed and explain your answers thoroughly.
Given the utility function U(X,Y)=X^0.5+Y^0.5for John. a) Do the preferences indicated diminishing marginal utility for Xand Y b) If john has income of 30 dollars. What is his demandcurve/equation for X when the price of Y is 2 dollars.
the Marginal product of labor (measured in units of output) for a firm is:MPN = A(100 - N) Where A measures productivity and N is the number of labor hours used in production. The price of output is $2.00 per unit. if A = 1, what will demand for labo..
Using the marginal cost and new marginal revenue numbers in Table 1, find the number of beds Ned should sell.
Until recently you worked as an accountant, earning $30,000 annually. Then you inherited a piece of commercial real estate bringing in $12,000 in rent annually. You decided to leave your job and operate a video rental store in the office space you..
In the example with Japan and the United States producing and trading cellphones and tablets, when the United States imports cellphones from Japan, does the number of jobs in the United States decline?
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