Macroeconomics (Fourth Edition)
4th Edition
ISBN: 9780393603767
Author: Charles I. Jones
Publisher: W. W. Norton & Company
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Question
Chapter 6, Problem 6E
a)
To determine
Identify the growth rate of output per person.
b)
To determine
Initial level of output per person.
c)
To determine
The initial level of output per person and output per person with double share.
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Students have asked these similar questions
1) Let the growth rate of X, be defined as the log difference a (X4) = log X – log X-1. For variables
X, and Y, show that the growth rate of the quotient equals the difference of the growth rates, g
g(Xt) – g (Y:).
1. Romer Model
ΔΑ++1
Yt
=
At Lyt
=
ZAt Lat
ī
IL
Lyt + Lat
Lat
=
=
Suppose A0 = 100, 7 = 0.4, z = 1/10000 and Ī
=
1000,
(a) What is the growth rate of knowledge in this economy?
(b) What is the growth rate of per capita output?
(c) If the percentage of the population engaged in ideas formation, ī decreases, what
are the short- and long-term impacts of this shift? Illustrate using graph.
Between 2006 and 2007, GDP per capita in Afghanistan increased from $381 to $439. We estimate the growth rate of GDP to be:
a) 7.07%.
b) 13.21%.
c) 14.15%.
d) 15.22%.
Chapter 6 Solutions
Macroeconomics (Fourth Edition)
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