Homework Answers
Michael Kremer argues that population and technological development are positively co-related. More population means more scientists and innovators. Thus, more population leads to rise in the technological developments.
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According to Michael Kremer, at which population should technological progress be most rapid? A o a....
In the Solow model with a positive rate of population growth n and technological progress z,...
In the Solow model with a positive rate of population growth n and technological progress z, the steady state level of total real output Y grows at the rate: a. n. b. zero. c. z. d. n + z. In the Solow model with a positive rate of population growth n and technological progress z, the steady state level of per worker real output y grows at the rate: a. n. b. zero. c. z. d. n + z. In...
Which of the following was most responsible for promoting rapid population growth in cities in the...
Which of the following was most responsible for promoting rapid population growth in cities in the Muslim world from 300 to 600 CE? a. Plagues and disease decreased, allowing the population to increase. b. New rice varieties needing less water supplanted millet and increased the food supply. c. Warfare declined, allowing populations to increase. d. New crops from India such as sorghum allowed farmers to grow more food.
Consider the Solow model with population growth and technological progress. The population grows at rate of...
Consider the Solow model with population growth and technological progress. The population grows at rate of d and the technology grows at rate of g. The depreciation rate of capital is λ. The aggregate production function is given as Y=100 ?![(1-u) ?]" where Y, K, L, ?, ? and u refers to aggregate output, aggregate capital stock, aggregate labor, output elasticity with respect to capital, output elasticity with respect to labor, and natural rate of unemployment, respectively. Draw a well-labeled...
3) Consider the Solow model with population growth and labor-augmenting technological progress. Suppose that the aggregate...
3) Consider the Solow model with population growth and labor-augmenting technological progress. Suppose that the aggregate production function is Cobb- Douglas, i.e. Y = AK"(E · L)1-a, where A is a constant, while E denotes technological progress and grows at rate g. Labor grows at an exogenous rate n, and capital depreciates at rate d. As usual, people consume a fraction (1 – s) of their income. a. Use a graph similar to what we have seen in class to...
Sustained growth is best achieved through which of the following? O Technological progress OB Increases in...
Sustained growth is best achieved through which of the following? O Technological progress OB Increases in the quality and amount of education OC. Population increases OD. Physical capital accumulation An aggregate production function shows OA the relationship between a country's output and its price level OB various combinations of labor and capital that can be used to produce a particular good OC. the relationship between a country's GOP and its factors of production OD various quantities of two goods that...
Macroeconomics Solow model with technological progress
The Solow model with technological progress.In the lecture, we talked about the Solow model with technological progress and populationgrowth. Now consider a simpler model with only technological progress. Denote thetechnology level at time \(\mathrm{t}\) by \(\mathrm{A}_{\mathrm{t}}\), and the growth rate of technology by \(\mathrm{g}_{\mathrm{A}}\). The number ofworker is constant, \(\mathrm{N}\). The production function is given by$$ Y_{t}=K_{t}^{\alpha}\left(A_{t} N\right)^{1-\alpha} $$where \(\alpha\) is a constant.(a) Define \(x_{t}=X_{t} / A_{t} N\), where \(X_{t}\) stands for all relevant aggregate variables in the model.Write down...
O O QUESTION 1 1 point A decrease in price of a certain good most likely...
O O QUESTION 1 1 point A decrease in price of a certain good most likely will lead to a. no change in demand and no change in quantity demanded. b. an increase in quantity demanded but no change in the demand for that good. c. an increase in quantity demanded and an increase in the demand for that good. d. an increase in demand but no change in quantity demanded. QUESTION 2 1 poim Assume an economy with an...
to ikely s seeb of alleles into a population 12) Which of the folhowing a 8)...
to ikely s seeb of alleles into a population 12) Which of the folhowing a 8) wings of a butterly and wings o ivings of a dragoni due bo a in allelic frequencies due to homologous? AJ the mouth of a mosguito of a hummingbird C) changes in the gene pool of ation due to differential ty and the wings parrow C) the D) chance changes in the gene 5) the loss of alleles trom a population of a hawl...
Question #3: Solow Model with Technological Progress Suppose than the economy's per effective worker production function...
Question #3: Solow Model with Technological Progress Suppose than the economy's per effective worker production function is given by y=Ros. Assume that the savings rate (8) is equal to 16 percent, the depreciation rate (8) is equal to 10 percent, the population growth rate (n) is equal to 2 percent and the rate of technological growth (g) is equal to 4 percent. (a) Find the steady-state value of capital per effective worker (K). (b) Find the steady-state value of output...
An economy is described by the standard Solow model without technological progress and without population growth....
An economy is described by the standard Solow model without technological progress and without population growth. You are given the information that the savings rate dropped to a lower level in this economy, but you don’t know by how much it did so. Suppose that prior to the drop in s the economy was in a steady-state with a capital stock per worker higher than the Golden Rule level. a. In a graph which should include the production function, the...
3) Consider the Solow model with population growth and labor-augmenting technological progress. Suppose that the aggregate production function is Cobb- Douglas, i.e. Y = AK"(E · L)1-a, where A is a constant, while E denotes technological progress and grows at rate g. Labor grows at an exogenous rate n, and capital depreciates at rate d. As usual, people consume a fraction (1 – s) of their income. a. Use a graph similar to what we have seen in class to...
Sustained growth is best achieved through which of the following? O Technological progress OB Increases in the quality and amount of education OC. Population increases OD. Physical capital accumulation An aggregate production function shows OA the relationship between a country's output and its price level OB various combinations of labor and capital that can be used to produce a particular good OC. the relationship between a country's GOP and its factors of production OD various quantities of two goods that...
O O QUESTION 1 1 point A decrease in price of a certain good most likely will lead to a. no change in demand and no change in quantity demanded. b. an increase in quantity demanded but no change in the demand for that good. c. an increase in quantity demanded and an increase in the demand for that good. d. an increase in demand but no change in quantity demanded. QUESTION 2 1 poim Assume an economy with an...
to ikely s seeb of alleles into a population 12) Which of the folhowing a 8) wings of a butterly and wings o ivings of a dragoni due bo a in allelic frequencies due to homologous? AJ the mouth of a mosguito of a hummingbird C) changes in the gene pool of ation due to differential ty and the wings parrow C) the D) chance changes in the gene 5) the loss of alleles trom a population of a hawl...
Question #3: Solow Model with Technological Progress Suppose than the economy's per effective worker production function is given by y=Ros. Assume that the savings rate (8) is equal to 16 percent, the depreciation rate (8) is equal to 10 percent, the population growth rate (n) is equal to 2 percent and the rate of technological growth (g) is equal to 4 percent. (a) Find the steady-state value of capital per effective worker (K). (b) Find the steady-state value of output...
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