Homework Answers
Add Answer to:
(24 pts) Growth Accounting: The following data give real GDP (Y), capital (K), and labor (N)...
2. The following data give real GDP (Y), capital (K), and labor (L), for the Wakandan...
2. The following data give real GDP (Y), capital (K), and labor (L), for the Wakandan economy in various years. Year TFP Growth in % (please round (please round to to the nearest the nearest whole whole number) number 1960 970 1980 1990 2000 12,560 15,402137 2010 14,784 18,513 139 3,109 3,883 66 4,722 5,863 79 6,450 8,43399 8,955 11,460119 Assume that the production function for Wakanda is Y- AK03. Please fill out the empty cells in the table above....
Suppose that the aggregate production is given by , where Y is real GDP, K is...
Suppose that the aggregate production is given by
, where Y is real GDP, K is the total capital stock and L is the
(constant) labour force. Assume that aggregate investment is equal
to aggregate savings and that the depreciation rate is 0.05, hence
the total capital stock evolves according to K=sY − 0.05K, where s
is the savings rate.
1) Under the stated assumptions for this question, what is the
steady-state level of capital per worker when the saving...
Consider the Solow growth model with depreciation rate and population growth rate n. The equation of...
Consider the Solow growth model with depreciation rate and population growth rate n. The equation of motion for the capital stock and the per worker production function in this economy are given by: Ak= s(f(k) - (8 + n) k y= f(k) = k1/4 a). Suppose adoption of modern birth control methods in a developing country causes the population growth rate to decrease. What happens in the main Solow diagram: what curve(s) shin, what happens to the steady- state level...
Here is some data on the economy: 2007 2008 Real GDP $1,300,000 $1,328,000 Populatio 12,227 12,838...
Here is some data on the economy: 2007 2008 Real GDP $1,300,000 $1,328,000 Populatio 12,227 12,838 2009 $1,429,000 13,480 2010 $1,411,000 14,154 2) Calculate real GDP per capita 3) Calculate the growth rates for each year for real GDP and population. 4) Estimate the growth rates for each year for GDP per capita real using the growth rates from 3). Check your estimate by calculating the actual per capita growth rate. 5) Using the growth rates from 2008 to 2009,...
Using the following data, calculate the annual growth rate of real GDP per person for China...
Using the following data, calculate the annual growth rate of real GDP per person for China for the years in the table. Year Real GDP per Capita (in 1996 U.S. dollars) 2000 4,001 2001 4,389 2002 4,847 2003 5,321 2004 5,771 Calculate the annual growth rate of real GDP per person for China for the given years. Round your answer to the nearest tenth of a percent. Growth rate, 2001: % Growth rate, 2002: % Growth rate, 2003: % Growth...
1) A good measure of the standard of living is A) real GDP per capita B)...
1) A good measure of the standard of living is A) real GDP per capita B) the real interest rate C) total nominal GDP D) total real GDP. E) nominal GDP per capita 2) If you invest $10,000 in a bond that earns 8% interest per year, how many years will it take to double your money? A) 1 year and 3 months B) 2 years and 6 months C) 5 years and 6 months D) 8 years E) 8...
Suppose output, Y t, is produced using capital, K t, and labor, N t, according to...
Suppose output, Y t, is produced using capital, K t, and labor, N t, according to the production function: Y t = A ⋅ ( K t α N t 1 − α + K t β N t 1 − β )where the parameters satisfy 0 < α < 1, 0 < β < 1 and A > 0. a) (5 pts) Write the production function in “per worker” terms. That is, if we define y t = Y...
Consider the Solow growth model with the following production function where y is output. K is ca...
A and B only
Consider the Solow growth model with the following production function where y is output. K is capital, s is the productivity and is labor. Assume that 0 < α < 1 Further, suppose that labor grows at a constant rate n. That is. 1 + n. Also, assume that capital depreciates at rate d and that gross investment in capital is fraction s of output. a Letting k-N, obtain the law of motion for capital accumulation...
Consider the Solow growth model. The production function is given by Y = K αN1−α ,...
Consider the Solow growth model. The production function is given by Y = K αN1−α , with α = 1/3. Depreciation rate δ = 0.05, and saving rate s = 0.25. Labor force grows at the rate n = 0.01. (a) Write down the law of motion for capital per worker. (b) Compute steady state capital per worker. (c) Suppose the economy has initial capital per worker k0 = 4. Describe the dynamics of this economy, i.e., how does capital...
8. Consider the following production function Y = AK0.3(NH)0.7 where Y is GDP, A is total...
8. Consider the following production function Y = AK0.3(NH)0.7 where Y is GDP, A is total factor productivity, K is capital, N is employment and H is human capital. Denote by P the population of the country. Thus, Y/P is per-capita GDP and N/P is the fraction of the population employed. What is the contribution of the fraction of the population employed (N/P) to the growth rate of per-capita GDP (Y/P)? (a) Growth rate of N/P. (b) Growth rate of...
2. The following data give real GDP (Y), capital (K), and labor (L), for the Wakandan economy in various years. Year TFP Growth in % (please round (please round to to the nearest the nearest whole whole number) number 1960 970 1980 1990 2000 12,560 15,402137 2010 14,784 18,513 139 3,109 3,883 66 4,722 5,863 79 6,450 8,43399 8,955 11,460119 Assume that the production function for Wakanda is Y- AK03. Please fill out the empty cells in the table above....
Suppose that the aggregate production is given by
, where Y is real GDP, K is the total capital stock and L is the
(constant) labour force. Assume that aggregate investment is equal
to aggregate savings and that the depreciation rate is 0.05, hence
the total capital stock evolves according to K=sY − 0.05K, where s
is the savings rate.
1) Under the stated assumptions for this question, what is the
steady-state level of capital per worker when the saving...
Consider the Solow growth model with depreciation rate and population growth rate n. The equation of motion for the capital stock and the per worker production function in this economy are given by: Ak= s(f(k) - (8 + n) k y= f(k) = k1/4 a). Suppose adoption of modern birth control methods in a developing country causes the population growth rate to decrease. What happens in the main Solow diagram: what curve(s) shin, what happens to the steady- state level...
Here is some data on the economy: 2007 2008 Real GDP $1,300,000 $1,328,000 Populatio 12,227 12,838 2009 $1,429,000 13,480 2010 $1,411,000 14,154 2) Calculate real GDP per capita 3) Calculate the growth rates for each year for real GDP and population. 4) Estimate the growth rates for each year for GDP per capita real using the growth rates from 3). Check your estimate by calculating the actual per capita growth rate. 5) Using the growth rates from 2008 to 2009,...
1) A good measure of the standard of living is A) real GDP per capita B) the real interest rate C) total nominal GDP D) total real GDP. E) nominal GDP per capita 2) If you invest $10,000 in a bond that earns 8% interest per year, how many years will it take to double your money? A) 1 year and 3 months B) 2 years and 6 months C) 5 years and 6 months D) 8 years E) 8...
A and B only
Consider the Solow growth model with the following production function where y is output. K is capital, s is the productivity and is labor. Assume that 0 < α < 1 Further, suppose that labor grows at a constant rate n. That is. 1 + n. Also, assume that capital depreciates at rate d and that gross investment in capital is fraction s of output. a Letting k-N, obtain the law of motion for capital accumulation...
8. Consider the following production function Y = AK0.3(NH)0.7 where Y is GDP, A is total factor productivity, K is capital, N is employment and H is human capital. Denote by P the population of the country. Thus, Y/P is per-capita GDP and N/P is the fraction of the population employed. What is the contribution of the fraction of the population employed (N/P) to the growth rate of per-capita GDP (Y/P)? (a) Growth rate of N/P. (b) Growth rate of...
Most questions answered within 3 hours.
-
Under the influence of its drive force, a snowmobile is moving
at a constant velocity along...
asked 1 hour ago -
Why do organizations decline? What steps can top
management take to halt, decline, and restore organizational...
asked 53 minutes ago -
. Suppose a discrete random variable has probability
distribution
P(x) = .2 if x = 0...
asked 39 minutes ago -
What mechanisms Drive speciation??
(I.e. what was Dawins theory on the orgin of species, and how...
asked 2 hours ago -
The manager at a car assembly plant believes that the mean
assembly time for a car...
asked 3 hours ago -
Which of the following is true of electron capture?
A) It decreases the nuclide's mass number...
asked 4 hours ago -
Assuming an efficiency of 43.10%, calculate the actual yield of
magnesium nitrate formed from 114.9 g...
asked 5 hours ago -
The highly pathogenic bacterium Clostridium
perfringens causes gangrene, a disease that results in the
destruction of...
asked 7 hours ago -
In the context of situation analysis, which of the following is
a category for analysis in...
asked 7 hours ago -
In a study of the gas phase decomposition of sulfuryl chloride
at 600 K SO2Cl2(g)SO2(g) +...
asked 7 hours ago -
75 g of 2-propanol (C3H8O) and 25 g of pentane are mixed in a
200 mL...
asked 7 hours ago -
The 2800-turn coil in a dc motor has an area per turn of 1.1 ×
10-2...
asked 7 hours ago