Consider Solow growth model provided with an aggregate production given as Y = K1/3L2/3, with population...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Consider Solow growth model provided with an aggregate production given as Y = K1/3L2/3, with population growth rate of 2% , technological advancement rate of 1 % and depreciation rate given as 2% . Also it is provided that marginal propensity to consume in the economy is 0.8. ? What is the long run equilibrium level of output/labor ? 1.99 st Consider Solow growth model provided with an aggregate production given as Y = K1/3L2/3, with population growth rate of 2% , technological advancement rate of 1 % and depreciation rate given as 2% . Also it is provided that marginal propensity to consume in the economy is 0.8. ? What is the long run equilibrium level of output/labor ? 1.99 st
Expert Answer:
Related Book For
Cost Management A Strategic Emphasis
ISBN: 978-1259917028
8th edition
Authors: Edward Blocher, David F. Stout, Paul Juras, Steven Smith
Posted Date:
Students also viewed these economics questions
-
I need a quick answer, just choose the correct answer without explaining 1. the wheeler-lea act was designed to protect consumers from O monopoly. O unfair methods of competition. O false or...
-
10. an inferior good is one for which an increase in income causes a(n) O decrease in supply. O increase in demand. O increase in supply. O decrease in demand.
-
Which of the following related to Transfer payment? Payment made to housewife O All the above O wear and tear cost O Pocket money to children
-
D. Prepare the consolidation worksheet journal entries to eliminate the effects of inter-entity transactions as at 30 June 2017. On 1 July 2013 Douglas Ltd acquired all of the share capital (cum...
-
Contrast the activities of securities firms with depository institutions and insurance firms.
-
Which of the following refers to an individual or group that has an interest in a business, including customers, creditors, suppliers, and investors? a. Stakeholder b. Shareholder c. Debtors d....
-
The Pitot tube on a supersonic aircraft (see Video V3.8) cruising at an altitude of \(30,000 \mathrm{ft}\) senses a stagnation pressure of 12 psia. If the atmosphere is considered standard, determine...
-
Growth Companys current share price is $20 and it is expected to pay a $1 dividend per share next year. After that, the firms dividends are expected to grow at a rate of 4% per year. a. What is an...
-
Two sole proprietorship businesses converted to partnership. No revaluation of assets and liabilities required. Lourdes and Bernadette individually have been in the catering service business for...
-
At age 25, someone sets up an IRA (individual retirement account) with an APR of 5%. At the end of each month he deposits $60 in the account. How much will the IRA contain when he retires at age 65?...
-
14. A machine requires 10kW of electrical power when operating at 100V. (a) If power is delivered through a cable with resistance 10002, how much power is lost to the cable's resistance? (b) In order...
-
Cocaine inoculations: Imagine that a vaccine that would "teach" the body's immune system to attack cocaine molecules once they were introduced into the body could be developed. The development of...
-
A moon orbits the planet Vulcan traveling at 7.40 km/s with an orbital radius of 1.12 x 10 m. (A) What is the mass of the planet Vulcan? (B) What is the gravitational field strength of Vulcan acting...
-
Discuss the change management programme of which you were a part giving it rationale, mechanism and results. What would you do differently if you were to design the change management programme?
-
How do the stages of change used with clients apply to organizational change management? How do the four functions of management (i.e., planning, organizing, leading, controlling) connect with change...
-
how communication methods have changed in the last 1 0 , 5 0 and 1 0 0 years?
-
i) ii) b) The figure shows a lorry of mass 1600 kg towing a car of mass 900 kg along a straight horizontal road. The two vehicles are joined by a light towbar which is an angle of 15 to the road. The...
-
If a force of F = 50 Ib is applied to the pads at A and C, determine the smallest dimension d required for equilibrium if the spring has an unstretched length of 1 ft. B 1 ft 1 ft F k = 15016/fr 1ft...
-
Use the data in Problem 17-70 to respond to the requirements that follow. Required 1. If you havent done so already (in conjunction with Problem 17-70), prepare in Excel a cost-of-quality (COQ)...
-
Alden Company uses a three-variance analysis for factory overhead variances. Practical capacity is defined as 32 setups and 32,000 machine hours to manufacture 6,400 units for the year. Selected data...
-
For a typical order, assume the following times (in hours): storage time (in between processes), 5.0; inspection time, 1.0; move time (from process to process), 2.0; and manufacturing (processing)...
-
A prototype can be ___________. (a) Complete system with partial requirements (b) Working model (c) Full-fledged system (d) All of these
-
_____________ is also used as requirement finding and feasibility testing tool. (a) Prototype (b) Reports (c) System (d) Procedure
-
Which of the following systems development approach is adopted if information requirements are not well defined? (a) SDLC (b) Prototype (c) Structured approach (d) Agile
Study smarter with the SolutionInn App