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In each state, which points are stable steady states?
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- Derive the steady state level of capital K*, output Y* and output per capita y* in terms of model parameters (A, 3, L, d, a). Below is the solution Pls explain step by stepThe steady occurs when the economy is in equilibrium. Specifically, the steady state refers to the situation where K/N and Y/N are constant. K/N will not change when investment per worker equals depreciation per worker. During the adjustment process, the growth rates of Y, Y/N, and K/N will all be negative. Once the steady state is reached, these variables are constant and the growth rates will be zero. True FalseGiven the national model Y= C + Io + Go + Xo - z C= Co + bYd Yd= Y - To Z= Zo + zY Explain the equilibrium level of income and consumption Explain the economic meanings of b and z. List the endogenous and exogenous variables of the model?
- match the term with the definition: ( ) Expansion beyond previous peak ( ) Expansion from tough to previous peak, marked by raising real GDP ( ) Economic turn down from peak to trough A. recession B. recovery C. prosperityTrue/ False Macroeconomics deals with the study of Cotton textile industry.Consider an economy in which production is characterized by the neoclassical productionfunction:Y = K0.5N0.5Suppose that it has a saving rate (s) of 0.1, a population growth rate (n) of 0.02, and an average depreciationrate (d) of 0.03.a) Write this production function in per capita form, and find the steady-state values of per capitacapital k and per capita output y.b) At the steady-state value of k, is there more or less capital than at the golden-rule level?c) Determine what saving rate would yield the golden-rule level of capital in this model.
- Korea was one of the “Asian Tiger countries“. Can you explain in a simple model how Korea could start as rather poor economy, develop towards a steady state until Korea belongs to the advanced economies today. Follow the instructions below when discussing the problem! Questions in detail a) Which model covers best the above-mentioned question? Explain your choice. b) Draw the appropriate model and the according equilibrium c) Explain the graphic and explain what happens, d) Give some additional elements of the process which could not be covered by the model mechanicschanges in the national unemployment rate over a short period of time is it relating to macro or microeconomics. And the impact of a decrease in national savingsA country starts in steady state. Due to a lost war, the country has to give up territory containing 50% of its capital stock and 10% of its population. This will cause Group of answer choices the economy to converge to a new higher steady state. the growth rate of output to rise initially as the economy begins to converge to the old steady state. the growth rate of output to rise initially as the economy begins to converge to a new lower steady state. the economy to enter a period of negative growth.
- Intermediate macroeconomics: Using examples and clearly labeled graphs where applicable answer the following questions clearly and detailed. What argument, based on macroeconomic theory, might a government use to justify shutting down a newspaper critical of its policies? If you were asked to provide a counterargument, what would it be? Explain.Which macroeconomic indicators make a projection in a project decision?Which of the following statement(s) are true? Agglomeration effect means the shift of production from the periphery to economic centre. The Czech Republic is a member of Eurozone. The standstill commitment means that a country commits itself not to limit FDI inflows. Through spread effect, companies may be able to employ cheaper workforce.