In the Malthusian model, suppose that the quantity of land increases. Using diagrams determine what effects this has in the long-run steady state and explain your results.
Answer to relevant QuestionsIn the Malthusian model, suppose that there is a technological advance that reduces death rates. Using diagrams determine the effects of this in the long-run steady state and explain your results.Suppose that we modify the Solow growth model by allowing long-run technological progress. That is, suppose that z = 1 for convenience, and that there is labor-augmenting technological progress, with a production functionY = ...Could differences across countries in population growth account for the persistence in income disparity across countries? Use the Solow growth model to address this question and discuss.Suppose that z, the marginal product of efficiency units of labor, increases in the endogenous growth model. What effects does this have on the rates of growth and the levels of human capital, consumption, and output? ...Assume a consumer who has current-period income y = 200, future-period income y' = 150, current and future taxes t = 40 and toe = 50, respectively, and faces a market real interest rate of r = 0.05, or 5% per period. The ...
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