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Category > Economics Posted 03 May 2017 My Price 6.00

Exereiee 5

Exereiee 5 In the Homer mode}. it is assumed that the production function for new teehnnlngy [ideas] was given by:
..-i = dLfiA‘i. a] [5 points] Suppoee d! 2:- ll. “That does this imply about the relationship between the current level of technology and the diflieulty of disco-Ming new ideas? Give an explanation about why this could he a
reaeonahle emumption. 11} [I5 pointe} Suppoae ail -:: I]. “‘hflt done this imply about the relationahip between the current level
of technology and the dimenlt'y of discovering new ideaa'.’ Give an explanation about why this could be a
reaaonahle ammptinn. c] [5 point!) Suppose A = i. What does thin irnpiy about the productivity of labor in the rematch aeetm‘? d] [E point-l Suppole that qt IE [0,1], .1 E {43,1} and that the share of labor devoted to research is eonntant.
Calculate the growth rate of output per capita in the timer model. e] [5 pointl] According to the equation you derived in part ti, what does the model imply [or the relationship
between population growth and gromh in output per mpita in the balanced growth path”?I f} [E points] Hyou could ehooee the parametere of the model1 oould you generate long-run growth ofoutput per eapita in the balanced growth path with zero population growth? Lining the appropriate equatiooia]
explain your reasoning.

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SuperTutor
(15)
Status NEW Posted 03 May 2017 03:05 AM My Price 6.00

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