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savings

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Question

Can someone please help me with some problem sets The Rule of 70 applies in any growth rate

application. Let’s say you have $1000 in savings and you have three alternatives for investing these funds. How long would it take to double your savings in each of these 3 accounts?

  1. A savings account earning 2% interest per year.
  2. A U.S. Treasury bond mutual fund earning 5% interest per year.
  3. A stock market mutual fund earning 7% interest per year.
  1. Modern economic theory points to three sources of economic growth. What are these three sources? Give an example of each.
  1. Explain why a nation cannot continue to grow forever just by adding capital.
  2. The Solow model focus on how resources affect output. In this chapter, we focused on capital.
  3. Name the other two major categories of resources.
  4. Draw an aggregate production function with a typical shape; label this function F. (label all curves and axis).
  5. Draw a second production function that indicates a technological advancement; label this new function F1. (label all curves and axis).
 
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