Suppose total population is 100 million and 25% is devoted to the production of research and development.

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Suppose total population is 100 million and 25% is devoted to the production of research and development. Using the simplified version of the Romer model outlined in the chapter, calculate the following:

a) The change in technology (ΔA_t), if χ = 0.0005 and A_t = 20

b) The growth rate of technology

c) The per-person output growth rate

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Macroeconomics Policy And Practice

ISBN: 978-0133424317

2nd Edition

Authors: Frederic Mishkin

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Question Posted: Feb 17, 2024 11:00 PM

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Suppose total population is 100 million and 25% is devoted to the production of research and development.

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To calculate the specified values using the simplified version of the Romer model well use the follo...View the full answer

Macroeconomics Policy And Practice

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