Below is information for two Solow economies. d L Country A 1/3 0.07 1 1 Country B 1/3 0.10 1 1 According to the table above, what is true of the golden rule steady-state level consumption of country B? O It is greater than 4 O It is indeterminate It is between 1 and 2 O It is below 1
Q: If inquiring is synonymous with investigation then what makes inquiry different from research which ...
A: Research is the process of systematic , scientific approach for finding , adding , new things in the...
Q: Which one of the following statements about inter-industry study in industrial organisation economic...
A: An industry alludes to a bunch of firms that produce same classification of labor and products, or h...
Q: A Chinese etie tys en autonutile produced in Japari tya Caaden company What aopen resu Select one O ...
A: The rate that depicts at which one currency is being measured in terms of another currency is known ...
Q: We do not have sufficient information to infer which surplus is grea Consumer surplus will be exactl...
A: Price elasticity of supply measures a good or service's responsiveness to a change in its market pri...
Q: answer 6 and 7
A: Philippines data is as follows: Life 67 years Adult literacy rate 68 % Gross enroll...
Q: SRATC or small plant SRATC tor medium plant SRATC for arge plant LRATC S500 Diseconomies of Scale S4...
A: Costs in the long run are determined by the firm's level of output, factor costs, and the quantities...
Q: Last year 1000 galone of amond ma non dairy produt were soldprice of S0 Y yearabad harvestin Caomia ...
A: Given: Quantity of almond milk=1000 gallons Price=$10
Q: Consider the foreign exchange market for Canadian dollar and define the exchange rate as the US doll...
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and ...
Q: 24. An isoquant slopes A. O Downward to the left B. O Downward to the right C. O Upward to the right...
A: "Correct option is B."
Q: Reese has recently left her teaching job to open a bakery. The ______ is an example of the implicit ...
A: The cost incurred is either implicit cost or explicit cost. Explicit cost is the cost which is incur...
Q: d. Now suppose the price of labour rises to $5 per unit, but the firm still wants to produce 500 tir...
A: An isoquant is the equal quantity curve that shows the combination of two inputs yields the same out...
Q: B. The law of consumer surplus is based on
A: To find : What is law of consumer surplus based on.
Q: Match the following List 1 List 2 i. Dummy variables li. Dicky fuller test. ili. R2 iv. Durban Watso...
A: "Correct option is I-3,ii-4, iii-1, iv-2."
Q: Suppose that Romeo in Problem 8 has the utility function U= S° RS2,and Juliet has the utility functi...
A: We do not need to use the Lagrangean to solve this. Since the utility fuctions for both are symme...
Q: 3. Consider the utility function u(x, y) = - (v41) (a) Find the equation for the marginal utility fo...
A: Answer-
Q: How many times greater was the GDP in 2004 than in 1950? By how many times did the GPI increase betw...
A: In comparison to 1950, the GDP in 2004 was 3.42 times higher. From 1950 to 2004, the GPI climbed by ...
Q: In an economy with 200 million people, 150 million hold jobs and 20 million are not working but are ...
A: The unemployment rate is the number of unemployed people divided by the labor force. The formula is,...
Q: Suppose the government imposed taxes o1. salt. Who bears the tax incidence and why?
A: Demand: - Demand is the relationship between the quantity demanded and the price of a good. There is...
Q: Suppose the market for a certain good is perfectly competitive and the demand is given by P=10 marke...
A: Demand equation: P=1000 - Q Supply equation: P=Q -------------------- At equilibrium, demand = supp...
Q: If the government does not intervene into the market, how many trees will be planted? a. What i...
A: The marginal cost is the cost incurred due to producing additional unit of goods. It is calculated b...
Q: If the Fed tries to prevent the U.S. dollar exchange rate from rising, the Fed U.S. dollars, foreign...
A: In the United States, US government can influence the exchange rate by making changes in the supply ...
Q: for the below Cash flow, find the total Present value using 10% interest rate. years $ cost 2,330 1 ...
A: Present worth" it is the amount of money today is worth more than that same amount in the future. fo...
Q: An increase the U.K. interest rate the demand for U.S. dollars and so the U.S. dollar O a. does not ...
A: Any change in domestic interest rate will have a significant impact on the relative value of currenc...
Q: . The structure of the cold drink industry in India is best described as
A: To find : What is bedt description of cold drink industry of india.
Q: A monopoly has a demand curve given by P = 20-Q and its cost function is TC = Q2+70. Find the monopo...
A: Given The demand function for the good: P=20-Q .... (1) Cost function: ...
Q: According to Acemoglu and Robinson, extractive institutions are often able to generate some economic...
A: To find : Whether the statement is true or false.
Q: In the case of a Giffen good, the demand curve will be
A: To find : What will be demand curve.
Q: Person D is offered a the same game, for a price of £1.8. They decide are indifferent between partic...
A: A risk netrual person wil always be indifference between taking a lottery and not taking one. He is...
Q: hat is the Marginal Revenue of a monopoly if P=a-bQ a-2bQ b. a-b c. 2a-bQ d. Non
A: "Since you have asked multiple question, we will solve the first question for you. If you want any s...
Q: QUESTION 33 Ricardo's theory of trade is based on (A: productivity of labor; B: doportunity cost; C:...
A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new que...
Q: The was formed in 1969 when Bolivia, Chile, Ecuador, Columbia, and Peru signed the Cartagena Agreeme...
A: Cartagena Agreement was related to biosafety.
Q: Table 1 The table below applies to an economy with only two goods- hamburgers and hot dogs. The fixe...
A: We will answer the first question since the exact one was not specified. Please submit a new questio...
Q: At Jody's bakery they are currently selling 400 loafs of bread. It cost them $4,000 to buy an oven, ...
A: Variable cost: A variable cost is a corporate expense that changes in proportion to how much a compa...
Q: By which principle can the size of a pay-off matrix be reduced? Game Inversion Game Transpose Domina...
A: Sometimes we work in the opposite direction in game theory which means given the agents equilibrium ...
Q: Use the data to calculate nominal Canadian GDP using the spending approach for both 2016 and 2017. ...
A: For 2016,Nominal GDP=Consumption+Investment+Government Spending+(Export-Import)Nominal GDP=$12,800+...
Q: How can UNIDO address the negative environmental impact of the semiconductor industry while preventi...
A: Answer -
Q: Engineering economics Topic: Deferred annuity Question: Find the present worth of a series of equal ...
A: Given the quarterly payment, A = 750 Number of compounding periods, n = 18 years x 4 = 72 Interest r...
Q: 7. Libby: "The unemployment rate went up between May and June of 1991." Michael: "The number of peop...
A: Unemployment includes those people who are looking for jobs but are unable to secure them. Unemploym...
Q: 10 9. 8. 4. 3. 1. 10 20 30 40 50 60 70 80 90 100 Baseball caps (thousands per month) Suppose that th...
A: Trade is defined as the exchange of commodities and services across the boundary of the country. Pro...
Q: A situation where everybody plays a dominant strategy must be a Nash Equilibrium True False
A: "Statement given in question is TRUE."
Q: Select the correct answer below O for each firm when antitrust regulators split this company exactly...
A: A natural monopoly is a type of economy that exists in the market because of the higher fixed cost o...
Q: 7. The demand curve for labor shows what? a. The demand for labor is immune to wage pressures. b. ...
A: "Correct option is b."
Q: The difference between the amount we spend to import products from other countries and the amount we...
A: International trade: - it means the buying and selling of goods and services with other countries.
Q: 10. Unemployment benefits usually last for 26 weeks; however, the federal government can vote to ext...
A: The economics as a study is based upon the basic idea of scarcity, and the resources which are prese...
Q: A firm faces the market demand curve: P=90-Q/4 where P = price and Q = output The firm has the total...
A: Given:P=90-Q4TC=1/4Q2-6Q+40 Now,TR=P×QTR=90-Q4×QTR=90Q-Q24
Q: Which (if any) of these statements are correct? Empirical results show that trade between two part...
A: The answer is - Empirical results show that trade between two partners tends to be higher among part...
Q: b) i. Explain two reasons why some analysts argue that FDI will promote development & ii. two reason...
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the exac...
Q: Assume that people will spend $0.60 of every extra dollar they earn. Further assume that the real in...
A: According to the question, "people spend $0.60 of every extra dollar they earn" this means marginal ...
Q: Openness to trade measures A the inverse of the average time needed to comply with customs forms...
A: The openness to trade can be defined as the ratio of the total to the GDP of the country.
Q: A hair salon with one, two, three, or four employees can serve 20, 35, 47, or 56 customers, respecti...
A: Marginal Product: In economics and in particular neoclassical economics the marginal product or marg...
Step by step
Solved in 2 steps with 1 images
- y=zk^2/3 For this economy, derive the competitive equilibrium, and derive the equation that solves for a steady state capital stock per worker.Consider an competitive economy with interest rate r =MPK=0.05,capital depreciation rate o = 0.03, technology growth rate g = 0.03, and populationgrowth rate n = 0.02(1) Why should we be interested in the Golden Rule steady state of an economy? (2) Is the economy depicted above running on its Golden Rule steady state? If yes,explain how you get your answer. If no, what should the government do to achievethe Golden rule steady state?(3) It is said that the Golden Rule steady state gives the greatest growth rate of consumption per capita. True or False? Explain your answer.(4) It is said that population is usually a burden to economic growth. So if we canreduce the population growth rate from n = 0.02 to n = 0.01, everyone will be betteroff, in the sense of enjoying greater growth rate of consumption in the new GoldenRule steady state. True or False? Explain your answer.Accordin to the pictures What will be the stage of business/economic cycle of each country in the next three years?
- Based from the material provided, give the point of view of the following classical economists on economic development. Explain the pros and cons. Economist Focus and viewpointAdam SmithDavid RicardoJohn Stuart MillThomas MalthusMarx and EngelsJosephSchumpeter Reflection:Do you think the concepts and views of the economists are true and relevant for economicdevelopment? (cite the theories/ views of the economist/s that are relevant)Question 6a. Graphically depict the Golden rule level of capital. Label all points clearly. b. Explain the concept of the Golden rule level of capital. c. Why might the Golden Rule steady state be preferred to the initial steady state?d. Look at the hypothetical data below:Real GDP per capitaNigeria $1,000Mexico $8,000China $15,000United States $33,000Fact is, changes in income over time explains economic growth of a country. Using two sources of growth, account for the large differences in income per capita across these countries?e. Discuss three policies governments can use to promote economic growth.What is neoliberalism? What is influence of its ideas in the pursuance of economic globalization? State the pros andcons of these ideas.
- (1d) To measure a real increase in wages, the changes would have to be averaged. the wages would have to be adjusted for inflation overtime. (my guess) the increase would have to be compared to the growth in GDP. (1e) Jerusha lives in a country with a large amount of protection under the law for conducting business or bringing her ideas to the market with patten production. Because of the economic conditions what will Jerusha most likely do with her rainwater collecting invention? Keep her ideas in a notebook and sell them to the highest bidder. Find a country where she can develop her idea away from strong patent laws. Develop her invention and bring it to market with ease and minimal cost. (my guess) (1f) Over the past 50 years, which component of consumer spending has steadily gained as a percentage of the total? durable goods nondurable goods services (my guess) (1g) The distinction between real GDP and nominal GDP is important to determine which of the following? The…information regarding Country AAA: Output per capita: y = 3k0.5Depreciation rate: d = 0.10Growth rate of population: n = 0.05Savings function: S = 0.3Y Calculate the capita labor ration (k) and output per capita at the steady-state equilibrium. Say the savings rate in Country AAA has increased to 0.5. Everything else remains the same. Repeat question a) above. Say the population rate has increased to 0.08. Everything else remains the same. Repeat question a) above. hat conclusion can you infer from the answers to question b) and c) above?An increase in the initial stock of knowledge: Suppose we have two economies—let’s call them Earth and Mars—that are identical, except that one begins with astock of ideas that is twice as large as the other: A Earth 0 = 2 × A Mars0 Te two economies are so far apart that they don’t share ideas, and each evolves as a sepa-rate Romer economy. On a single graph (with a ratio scale), plot the behavior of per capita GDP on Earth and Mars over time. What is the efect of starting outwith more knowledge?
- What would happen in Ricardian model and the Heckscher-Ohlin model, a) If one country tried to export more to the other country? b) If one country restricted the amount of imports from the other country? c) What does this imply for trade policy? Please answer correct explain plz asap plz Don't answer by pen paper plzUsing the Progressive Macro Model, show the theorized effect under Progressive Economic theory of worker protection law.Consider a country with production function unction ? = 5? 1/2, where y is the output per worker and kis capital per worker. Suppose the investment in capital occurs at a rate of 35% of income perworker every period, the depreciation rate is 1.5% and the population growth rate is 2%. Use excel toplot the production function, investment line and capital depletion line with k on the x-axis (usethe attached spreadsheet to draw your graphs).a. What is the steady state level of y and k.b. Suppose TFP increases by 20%. What happens to the steady state y and k?c. Suppose the investment rate increases to 40%. What happens to the steady state y and k?
