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2. Is the heightened flow of people a unique feature of the current global
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- As technological change makes us more sedentary and food costs increase, obesity is likely. What factors do you think may limit obesity?a) You have an avocado tree, growing 100 avocados this year, 0 next year. Neighbor's tree grows 0 this year, 300 next year. Let's say you save s avocados, and nber borrows b avocados. In equilibrium, 1 this year = v next year. v=_______ b) You have an avocado tree, growing 100 avocados this year, 0 next year. Neighbor's tree grows 50 this year, 300 next year. Let's say you save s avocados, and nber borrows b avocados. In equilibrium, 1 this year = v next year. v=_______ c) You have an avocado tree, growing 120 avocados this year, 80 next year. Neighbor's tree grows 30 this year, 220 next year. Let's say you save s avocados, and nber borrows b avocados. In equilibrium, 1 this year = v next year. v=_______Without looking at Table 19.7, return to Figure 19.10. If we define a recession as a significant decline in national output, can you identify any post-1960 recessions in addition to the 20082009 recession? (This requires a judgment call.)
- Suppose we extend the circular flow model to add imports and exports. Copy the circular flow diagram onto a sheet of paper and then add a foreign county as a third agent. Draw a rough sketch of the flows of imports, exports, and the payment for each on your diagram.What are the drawbacks to analyzing the global economy on a regional basis?Exercise 2: Growth and developmentCountries 1 and 2 have the production function: Yt = AiKαt L1−αt , where country 1 hasTotal Factor Productivity (TFP) of A1 = 25, country 2 has TFP A2 = 100, and α = 0.35for both. In the two countries population is constant and there is no technological progress.Every year capital depreciates by 6% in both countries. Country 1 saves 40% of output, andcountry 2 saves 20%.a) Write down the function of production per unit of labor. Suppose the two countriesstart with an initial capital stock (per unit of labor) of 500, what are the initial income andconsumption per unit of labor in both countries?b) Determine their steady state levels of capital, income and consumption per unit oflabor.c) Determine the difference in their steady state level of income per unit of labor, andhow much of that difference is due to differences in TFP and how much is due to differencesin capital per unit of labor.d) Suppose now that country 2 suddenly has access to the country 1…
- How can a decline of natural resources and biodiversity affects a country's Gross National Product and Gross Domestic Product? Pls explain further4.Explain why tourism satellite accounts are useful and give examples for direct and indirect effects (two examples for each).5) Suppose, Nepal was in general equilibrium before COVID-19. Explain the effect of increase in labor supply due to returnee’s migrants. Assume that everything else has not changed at all. Use IS-LM-FE model to answer.
- Consider the following data for a particular country. Year 1 Population (Millions) - 400 Real GDP (Trillions of $) - 16 Year 2 Population ( MIllinois ) - 480 Real GDO ( Trillions of $ ) - 24 Instructions: Enter your answers as a whole number. a. What is the growth rate of real GDP from year 1 to year 2 -blank percent b. What is the growth rate of real GDP per capita from year 1 to year 2 -blank percent Note: Donot given direct answer1. Xanadu's desired national saving can be expressed as: O. Sd = 20 + 200r O. Sd = 10 + 200r O. Sd = 10 + 100r O. Sd = 15 + 200r 2. Xanadu's desired investment can be expressed as O. Id = 20 – 100r O. Id = 32 – 200r O. Id = 75 – 200r O. Id = 30 – 200rBased on your understanding, explain the importance of fiinance on the national and global economy.