Suppose the parameters of the Romer model take the following values: A = 100, = 0.05, z = 1/100, and Z= 1,000. What is the growth rate of this country's economy? O 10 percent O 40 percent O 0.02 percent 50 percent O 0.10 percent

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5. Consider an economy that has been on steady state until period tw (see Figure 4 below). Thus, capital per worker has been constant until tw. The economy's capital per worker until period tw is equal to k. (i.e. steady-state value) and is indicated by the horizontal line. Assume that the economy experiences a significant decrease in productivity after year tw. That is, A decreases or jumps downward after year tw (due to, for example, a corrupt group of oligarchs taking over the government and the economy becoming less efficient as a result). Using the plot in Figure 3, show how this change affects the dynamics of capital per worker (kt) during the periods after tw. Explain (verbally) the economic intuition. Figure 5.1 k₂ y* kt. Yt tw tw Figure 5.2 t

What is predicted by new growth theory? According to new growth theory, A. economic growth most often occurs in economies with large populations, such as what we see in China today B. technological advances are determined by chance O C. our unlimited wants will lead us to ever greater productivity and perpetual economic growth O D. prosperity will last but growth will not last because eventually technology stops advancing Click to select your answer. 品 esc F2 FA F5 F3 F1 # %24

Between 1916 and 2016, the average growth rate of real GDP per person in the United States was 2 percent a year. What information does this fact give us about the growth rates of other variables? During this period, grew at a faster rate than O A. GDP; the population O B. the population; real GDP O C. real GDP; the population O D. inflation; real GDP Click to select your answer.

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Q4. Exponential growth means that b is. O =1 O none of these O >1 O <1

The table below shows the GDP of a country measured in trillions of dollars. What is the growth rate of the GDP of this country in 1999? Year 1998 1999 2000 2001 Profit $526.42 $527.10 $533.69 $541.70 O a) -0.02% O b) 0.04% O c) 0.08% O d) 0.13% O e) 0.18% O f) 0.25% g) There is not enough information to tell.