Entries by Hannah Wangui

If an economy is in the steady-state as described by the Solow model and the growth rate of labor is 3.0% per year, how many years will it take for the capital stock to double in size?

December 7, 2020 in /by

If an economy is in the steady-state as described by the Solow model and the growth rate of labor is 3.0% per year, how many years will it take for the capital stock to double in size?   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

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population

December 7, 2020 in /by

The current population of the United States is 324.3 million with 2.6% of the population is engaged in R&D at an efficiency rate of 1/400 per million persons per year. (a)If R&D is the only source of total-factor productivity growth what is the growth rate of total factor productivity in the United States? (b)If the growth […]

 

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Use the Solow model, the Solow-model diagram, and the capital accumulation the equation to explain what happens to the following if the depreciation rate changes to δ0 +x and the labor-force growth rate changes to gL − x where x > 0:

December 7, 2020 in /by

Use the Solow model, the Solow-model diagram, and the capital accumulation the equation to explain what happens to the following if the depreciation rate changes to δ0 +x and the labor-force growth rate changes to gL − x where x > 0: (a)The capital-to-labor ratio (b)Output per worker .(c)Growth during the transition phase.(d)Long-term economic growth. […]

 

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Imagine that you consume only two goods: bagels and coffee. Our utility function is characterized by U(Qc,Qb)= Qc^0.25 * Qb^0.75

December 7, 2020 in /by

Imagine that you consume only two goods: bagels and coffee. Our utility function is characterized by U(Qc,Qb)= Qc^0.25 * Qb^0.75 The price of bagels is $5 and the price of coffee is $2 and your income is $1,000 i.Find out our initial consumption bundle and the utility it provides .ii.What share of your income do you […]

 

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