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B. One Commodity Assisted Labor model (number questions B.1, B.2,.., B.8) Let the system be characterized by the following: 111UX1 1. What is the net product? Set up the net congruency relation. 2. What are the three productvity parameters? Define them and provide for you numeric example. Draw the economy in factor productivity space. 3. Solve the value system for configuration of exchange using both corn and labor as numeraire for the following regimes o 0 24 Rp . Associate each level of the profit rate with the corresponding wage share and put each set of prices in its own table across the various regimes of distribution: Corn as numeraire (o-1 0) Price of corn Price of labor wage Wy Price of corn Price of labor wage Wy: 0) that the value of living labor is equal to the value of the net product. set up the equations for the income and output account in general using the net product T-table. Be sure to 4. 5Using corn numeraire, especially give tProvide the income account equations and draw the wage profit schedule. he gha be rween accounts the savings propens the formulas for the profit rate and growth rate Let th e wage share Map the system between accounts revenue P o fenue . /, and the savings propensity out of wage 7. 0, Provide the output accourt equations and draw the c t revenue profit schedule with the consumption-growth schedule and draw in the two 8. quadrant graph and identify all values.

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