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How might the effects of government spending on proper sewage infrastructure that results in improved sanitation for crowded cities in poor countries promote?
Comment on the effects of this program on the following: a) Uruguay's human capital stock b) Uruguay's output per capita growth rate.
Disucss a recipe to make pancakes and the recipe to manufacture a soda drink. Analyze robot that welds car frames and idea of building car in an assembly line.
What is the impact of an increase in saving in the Romer model? How does an increase in total population affect the growth rate of percapita output over time?
What role does the legal system play in promoting property rights? In the Romer model, what three factors determine an economy's growth rate?
What government policies can be used to promote productivity growth? Why may private R&D expenditures be too low? What is a patent?
What would be the consequences for future generations of a saving rate that is lower than the Golden Rule level of the savings rate?
Identify the new steady state capital-labor ratio level. Is it necessarily higher or lower than the previous steady state?
This policy has been dubbed a success, since fertility rates dropped by a considerable amount. Do you agree with this type of population control?
Comment on the effect of population control policies to reduce fertility rates. Explain why you think such policies will be effective or not.
What would be the immediate effect of a saving rate increase on the capital-labor ratio? What would be the long run effect?
Explain the difference in total output growth between these two countries. Calculate productivity growth for both countries.
Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate.
Which option will add to the economy's capital stock and which one will not? Explain why. How would a decrease in the real interest rate affect your decision?
How are the effects of changes in domestic saving and investment for large open economies similar to those for small open economies and closed economies?
How does a small open economy differ from a large open economy? What determines whether a small open economy will have a trade surplus or a trade deficit?
What causes desired saving to increase? What effects will an increase in desired saving have in a closed economy?
Describe the two components of national saving and explain how saving affects national wealth.
Is this firm maximizing its profit? What should this firm do with respect to its employees and its use of equipment?
Calculate the marginal product of labor. Does this production function exhibit diminishing marginal product of labor?
Explain how an equilibrium factor price is established in a factor market if there is either an excess demand for the factor or an excess supply of the factor.
What are factor prices? What classical assumptions are used in explaining how they are determined? Explain each term in the profit function for a firm.
Explain each term in the profit function for a firm. What rule do firms follow to determine how much of each input to hire in order to maximize profits?
What are supply shocks and from what sources can they arise? Distinguish between positive and negative supply shocks.
What relationship does the aggregate production function portray? Which of the production function's variables are endogenous and which are exogenous?