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suppose output is growing at 3 percent per year and capitals and labors shares of income are 3 and 7 respectivelya if
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figure 3-4 is a basic illustration of the solow growth model interpret it being careful to explain the meaning of the
go to httpresearchstlouisfedorgfred2and click on employment amp population then select establishment survey data choose
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consider the following production function y k5 an 5 where both the population and the pool of labor are growing at
what factors determine the growth rate of steady-state per capita output are there other factors that could affect the
if in the context of a standard production function y f k n where k represents physical capital and n represents raw
how does the keynesian aggregate supply curve differ from the classical one is one of these specifications more
explain why the classical supply curve is vertical what are the mechanisms that ensure continued full employment of
consider an economy whose production function issuppose that it has a saving rate of 1 a population growth rate of 02
suppose you add a variable rate of population growth to a two-sector model of growtha what do the production function
consider a two-sector model of growth with two kinds of investment opportunities-one with a diminishing marginal
a consider once more the neoclassical model with a steady-state level of per capita output suppose a society can choose
1 a what sorts of capital investment does this chapter suggest are most useful for explaining long-run equilibrium
there are two distinct proposals a and b being debated in washington the congress likes proposal a and the president
explain how the aggregate supply and phillips curves are related to each other can any information be derived from one
1 section 6-2 emphasized how the phillips curve sans inflationary expectations broke down in the united states you
this chapter has discussed a number of different models that can be used to justify the existence of sticky wages and
a what is stagflationb describe a situation that could produce it could the situation youve described be avoided should
last weekend bob attended the university football game at the opening kickoff the crowd stood up bob therefore realized
a if the government were to reduce income taxes how would the reduction affect output and the price level in the short
the following table displays hypothetical annual total costs and total benefits of conserving wild tigers at several
the chapter suggests that the economy like the human body has natural restorative powersa illustrate the short-run
the following is data from 2010 for the tiny island nation of papaya money supply 600 million price level 25