The following formula describes the particular case of the endogenous growth pattern of Uzawa-Lucas. Show that the growth rate of y in BGP is determined by SA. YA (hL)¹-aka Y A = 0, i = 0, h = sy, K = SY.
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- QUESTION 2 If Z = (XY)2, and we know that the annual growth rate of Z is 3%, and the annual growth rate of X is 2%, the annual growth rate of Y is а. - 1% b. - 0.5% C. 0.5% d. 1.0%1. Consider the variables x. V. and z. Assume that the growth rates of these variables aire given by g(x) = 0.04, g(y) = 0.12 and g(z) = 0.008. Then the growth rate of the variable w = %3D (yx)3/4(z)1/4 is approximately equal to a. 16% b. -10% с. 12% d. 12.5%Explain FIVE (5) costs of economic growth.
- e ncia.wwnorton.com b. Per capita real GDP doubled in South Korea again in only seven years, reaching $1600.00 by 1988.00. What was the average annual economic growth rate between 1981 and 1988.00? (NOTE: Round this to two places past the decimal point.) % 4th attempt 3rd attempt Okay Elizabeth 4 8 Q W E Y U P @ 23 & return A F G H J K % ! V N M .?123 .?123What is meant by economies of scale and what is the importance of this concept toeconomic growth?Logarithms are especially useful for comparing series with two divergent scales since 10 percent growth always looks the same, regardless of the starting level. When absolute levels matter, the raw data are more appropriate, but when growth rates are whats important, log scales are better.
- QUESTION 2 Assume we have a Cobb-Douglas production function of Y-KO505 Assume K-160, L-40, a-025, 6-0.10, and initial k-4.0. Derive the steady-state level of capital (k) (calculate unt Ak is at a level where the first 2 decimal points are 0. 1024In the Saul model, if the per capita production function is y=k^0.7, the savings rate is 0.2, and the depreciation rate(8) is 0.1, then the steady-state level of capital per worker (k') equals O O O A. B. C. D. 4.85 8.05 10.08. 11.12Q4) Production Functions and Growth (a) Time is continuous and the production function of the economy is given by (1) Y¢ = ( K¢ )ª( A¿N; )1-« Total factor productivity evolves according to (2) A = egt Ao such that A where the growth rate of technological progress g is exogenous. Population grows at an exogenous rate n according to (3) N{ = ent No with No = 1 such that = n Find an expression for the growth rate of (i) output per capita (Yt / Ni) and (ii) output per effective worker ( Yt/ (A:N:) ). When is the growth rate of (ii) equal to zero?
- Solve the problem. 260 The logistic growth model P(t) - represents the population of a species 1+ 64e-0.15 introduced into a new territory after t years. When will the population be 70? O 7.34 years O 20 years O 18.02 years O 5.36 yearsAssume that a country, in year 5, has a population level, P, of 14 380 individuals. The country's population has been growing at a constant yearly rate of 2.4%. a) Find the country's initial population size, assuming that we are dealing with discrete time. Then, determine the initial population size assuming continuous time. (You must show all your work!) Are the two initial population sizes similar? Why or why not? b) Now, assume that g is actually 5% and that the initial population level was, in fact, 10,000. Using the Rule of 70, graph the population growth on a ratio scale for the time periods, t = 0, 7, 14, and 28. Label your graph. Please upload your answer as ONE file (document or picture files are acceptable).Over the last 5 years, the population level of a certain area has gone from 200,000 to 250,000, and seems to follow a double exponential pattern. The physical characteristics of the area limit the total population it can accommodate to 400,000. Given this situation, if the same pattern of growth continues, what will be the population level in 5 years?