1)Suppose that in the year 2015, the quantity of capital per worker in a certain country was equal to 60, the quantity of output per worker equaled 90, the fraction of output invested was 30%, and depreciation rate was 2%.The change in capital per worker equals to: 15 25.8 16.2 -15
1)Suppose that in the year 2015, the quantity of capital per worker in a certain country was equal to 60, the quantity of output per worker equaled 90, the fraction of output invested was 30%, and
15
25.8
16.2
-15
2)Based on Malthusian model, predict what will happen to income-per-capita and population size if a famine destroyed the crops of the whole country.
In short run income increases
In the long run low income per capita generates a low pop growth rate, leading to move along the curve and back to steady state level of income per capita.
In long run income decreases
In the short run low income per capita generates a low pop growth rate, leading to move along the curve and back to steady state level of income per capita.
3)If two countries currently have the same output level and same factor accumulation, then which country will reach the steady state first?
The one with higher investment level
The one with lower depreciation level
The one with higher productivity
All of the above
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