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In the Solow growth model, if the savings rate is X; the per-worker GDP equals the per-worker stock of capital goods, the depreciation rate of capital goods is Y, and capital goods per worker in year 1 equals Z, then what will be the amount of capital goods in year 2? Show work.
Compared to an open economy without a tariff, the amount of imported sugar will drop from _____ tons to _____ tons after the tariff is imposed.
Did Rockefeller raise or lower the price of oil for consumers? Did he increase or decrease access to oil? What impact did this change have on the living experience of consumers? In particular, were wealthy consumers or poor consumers impacted more?
Show the open access and efficient level of hunting effort when hunter utility is tightly tied to harvest rates, akin to a commercial fisherman. Show the effect of hunters gaining utility/enjoyment from attributes of the hunting trip (e.g., camarader..
The following events occur in the market for good B, which is a normal good: Identify the impact of the event to the equilibrium price and quantity of each event.
Two firms are competing for output. Leader firm market demand is P=1200-Q and other firm demand is Q2=400-0.5Q1. Marginal cost for both is $200. How much is output for firm 1 and 2?
The cost curves of the firm. In terms of economies of scale, why would a firm sometimes want to expand output and sometimes not want to expand output.
In order to boost funding for the state of Florida or Mississippi, depending on where you are, each state has decided to start a daily drawing where people can purchase a ticket for $1 with a 3-digit number from 000-999. Why then do so many people pu..
For the last several years, production, demand and prices have been stable. Last year the quantity of potatoes transacted in the United States was 450 million cwt (cwt is agriculture speak for 100 pounds), and prices were $8MM per million cwt. Econom..
"Since the statistical discrepancy in the U.S. balance-of-payment accounts is so large, we cannot rely on the U.S. BOP statement to give information on the size of various 'balances' with any precision. Perhaps the U.S. BOP statement is essentially u..
The market for 4WD cars has been described by the following supply and demand functions: Find the equilibrium prices and quantities. Construct a graph of supply and demand for this market, showing all intercepts, and showing the equilibrium prices an..
Which of the following industries do you expect to have high concentration ratios: automobile production, aircraft manufacture, computer and electronics production, pharmaceuticals, production of expensive jewellery? Why do you think the specific ind..
A friend of yours just bought a new sports car with a $5500 down payment, and her $32,000 car loan is financed at an interest rate of 0.75% per month for 36 months. After 2 years, the "Blue Book" value of her vehicle in the used-car marketplace is $1..
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