Consider a Solow economy with population growth and technological progress. The depreciation rate is 8 = 10%, the population growth rate is gN = 3% per year, and the growth rate of technology is gA = 1% per year. The steady-state growth rate of total output in this economy is: O 1% O 3% O 4% O 10%
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- In the Solow model with technological progress, suppose that the rate of depreciation is 10% per year, the population growth rate is 2% per year, and the growth rate of technology is 3% per year. Which of the following equals the annual growth rate of "effective labor" in the steady state in this economy? O 2% O 3% O 5% 10%Last year real GDP in the imaginary nation of Oceania was 561.0 billion and the population was 2.2 million. The year before, real GDP was 500.0 billion and the population was 2.0 million. What was the growth rate of real GDP per person during the year? O 12% O 10% O 4% 2%4. Assume an endogenous growth model with a production function that in per capita terms can be written as y = 0.8k. If the savings rate is s = 0.3, the rate of growth of population is n = 0.03, and the rate of depreciation is d = 0.1, how high is the rate of growth of output per capita? А. 14% В. 17% C. 13% D. 11% E. There is not enough information to calculate it.
- 4. Assume an endogenous growth model with a production function that in per capita terms can be written as y = 0.8k. If the savings rate is s = 0.3, the rate of growth of population is n = 0.03, and the rate of depreciation is d = 0.1, how high is the rate of growth of output per capita? %3D A. 14% B. 17% C. 13% D. 11% E. There is not enough information to calculate it.Question 2 Suppose that the production function is Y = 10K5L5, the population growth rate is 15 percent and the depreciation rate is 5 percent. What is the steady state level of k if the economy saves 30 percent? O 400 O 225 100 O 1000 Question 3 Suppose that the production function is Y 10K SL5, the population growth rate is 15 percent and the depreciation rate is 5 percent. What is the steady state level of y if the economy saves 30 percent? 250 350 150 O 450Annual growth in RGDP per capita in China has slowed in recent years due to the pandemic lockdown and now the real estate crisis. Assume GDP per capita was 12.5 trillion (S) in 2015 and is 16.5 trillionin 2023. What is the annual rate of growth in RGDP per capita between 2015 and 2023? A 8.5% в 4.7% с 2.5% D 3.5% Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- Consider the economies of Tralfamadore and Sporon, both of which produce agricultural products using only land and labour. The following tables show the supply of land, population size, and real GDP for these two economies from 2020 to 2023. Complete the last column of the following two tables by calculating real GDP per capita for the two economies. Tralfamadore Land Real GDP (Dollars) Real GDP per Capita (Dollars) Year (Hectares) Population 2020 20,000 500 4,500 2021 20,000 1,000 10,000 2022 20,000 1,500 16,500 2023 20,000 2,000 24,000 Sporon Land Real GDP Real GDP per Capita (Dollars) Year (Hectares) Population (Dollars) 2020 20,000 1,000 15,000 2021 20,000 2,000 28,000 2022 20,000 3,000 36,000 2023 20,000 4,000 40,000 Rapid population growth tends to threaten economic growth in economies with higher or lower land-labour ratios.Which impacts economic growth? O a decrease in the productivity of labor O an increase in the proportion of the population that is college educated O an increase in the average wage rate paid to workers O an increase in the standard of livingIn a steady-state economy (i.e., the economy is at steady-state equilibrium) with 1% population growth rate, capital per worker is 86, the saving rate is 25 percent, and the depreciation rate is 11 percent. The level of output per worker is approximately O 47 35 195 O 41
- If real GDP per capita is increasing, the rate of real GDP growth is: O less than the rate of population growth. O greater than the rate of population growth. less than the rate of inflation. greater than the rate of inflation.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 yearsThe most central factor for high economic growth in Norway after World War II is: The oil and gas sector O Willingness and ability to adapt O Low power prices compared to the power prices of many key trading partners O Well-functioning domestic markets with few restrictions