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Consider the Solow growth model as given in the lecture notes using the Cobb-Douglas production function
Yt = AK1-αt Lαt
a) Set up the underlying nonlinear difference equation.
b) Compute the steady state value of capital.
c) Linearize the nonlinear difference equation around the positive steady state and determine its properties.
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Write following in terms of simpler logarithms. (a) log 3 (9 x 4 / √y) Solution log 3 (9 x 4 / √y) =log 3 9x 4 - log y (1/2) =log 3 9 + log 3 x 4
Tests for relative minimum For a relative minimum point there are two tests: i.The first derivative, which is (dy)/(dx) = f´(x) = 0 ii.The second derivative, which i
What is the value of tan? in terms of sin?. Ans: Tan ? = S i n ?/ C os ? Tan ? = S i n ? / √1 - S i n 2?
what is the formula to find a sequence on a string of numbers?
Suppose research on three major cell phones companies revealed the following transition matrix for the probability that a person with one cell phone carrier switches to another.
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Let a, b, c 2 Z + . (a) Prove that if a|b, then ac|bc for all c. (b) If a|bc, can you conclude that either a|b or a|c? Justify your answer with a proof or a counter example.
#There is a balance of $1,234 and this person receive a refund check in the amount of $25 with her paycheck that was deposited into her account for $1500 which made her balance $27
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