Macroeconomics (Fourth Edition)
4th Edition
ISBN: 9780393603767
Author: Charles I. Jones
Publisher: W. W. Norton & Company
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Question
Chapter 6, Problem 10E
a)
To determine
Identify the rate of TFP for a European economy.
b)
To determine
Identify the rate of TFP for a Latin American economy.
c)
To determine
Identify the rate of TFP for Asian economy.
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Suppose we observe the following growth rates in variouseconomies. Discuss whether or not each economy is on its balanced growthpath.(a) A European economy: gY/L = 0.03, gK/L = 0.03.(b) A Latin American economy: gY/L = 0.02, gK/L = 0.01.(c) An Asian economy: gY/L = 0.06, gK/L = 0.15.
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Assume an endogenous growth model with labour augmenting technology. The production function is Y=RK,AN), with A = 2(KIN) such that y = 2k. If the savings rate is s= 0.08, the rate of population
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Multiple Choice
1%
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Chapter 6 Solutions
Macroeconomics (Fourth Edition)
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