In explaining growth in the size of the public sector,urbanization is a common feature in both the development and Wagner’s model. True or false, and explain
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- Consider the one-sector Schumpeterian model in discrete time analyzed in the previous exercise, except that now (.) denotes the probability of innovation, and each innovation improves the quality of a machine q to λq, where λ > 1. Suppose that when a new innovation arrives a fraction ϕ of workers employed in the final good production are unable to adapt to this new technology and need to remain unemployed for one time period to “retool.” (a) Define the equilibrium and steady-state (BGP) allocations. [Hint: also specify the number of unemployed workers in equilibrium.] (b) Define the appropriate generalization of the steady state for this economy, and determine the number of unemployed workers in this equilibrium. (c) Show that the economy experiences bursts of unemployment followed by periods of full employment. (d) Show that a decline in ρ increases the average growth rate and the average unemployment rate in the economy.This exercise applies the basic Ricardian model of one factor and two goods. The table below contains the output per unit of labor in Foreign and Home for each of two goods. Use this information to answer the question that follows. attached in ss below thanksTrue or False: It is possible, in a basic hours towards leisure and income towards consumption model, that the Earned Income Tax Credit can encourage more hours towards leisure, less hours towards work and more money towards consumption.
- what is the relevancy of the paper to public policy issue in urban development and economics?Which of the following is NOT a defining characteristic of the Beveridge model? a. universal, public health insurance b. community rating c. publicly provided health careWhat are the three main assumptions of the cumulative causation theory?
- Compare and contrast the views of neoclassical economists, environmental economists, and ecological economists, particularly regarding the issue of economic growth.In the light of fundamentals of supply-side economics and demand-side economics highlight the importance of each school of thought under these two categories in achieving the goal of economic growth. Could there be any consensus among the alternative views? Your answer must be very specific to statement of question.Which option was a disadvantage to urbanization during the time of “Big Business”? lack of transportation few job opportunities poor sanitation lack of community
- This is not a writing assignment, this is a multiple-choice question Which of the below examples of government involvement does NOT lead to economic growth, according to Wheelan? Group of answer choices Government provides as public goods items that are good for society but have a free rider problem that could lead to crippling costs to private enterprise if they provided them. Government provides uniform rules and regulations such as contract law, roots out fraud and ciculates a sound currency with relatively stable value. Government redistributes income and wealth from the rich to the poor such that income disparity is eliminated, and everyone makes about the same amount regardless of their ability or effort.Let the national-income model be: Y = C + I0 + G C= a+b +b(Y - T) (a > 0, 0 < b < 1) G = gY (0 < g < 1) Consider the national-income model found above. Provide a general equilibrium solution for each endogenous variable (Y, C, G) as a formula of the parameters given. Create a numerical example by selecting and justifying a set of parameters that are close to real estimates for the US economy of $19 trillion GDP.Is there any empirical evidence to support the prediction of Ricardian Model? Explain!