4. Explain the idea of the macroeconomic production function to someone whoknows no economics. The production function we have discussed relates outputper capita to technology, labor (and population growth rate), capital, and hu-man capital. We should properly think of all of these variables as endogenousvariables. Think about policies that would affect these. Articulate three policyrecommendations for each. Be careful about the distinction between labor andpopulation. Do you think policies that would maximize investment would alsomaximize welfare?5. Using the Solow model, explain the effects of the following events on steadystate income per capita level and income per capita growth rate of countryAdanus using proper terminology:(a) Aliens attack Adanus and destroy all existing factories. Thankfully, thecitizens were not affected by the attacks.(b) Adanus receives a large influx of migrants from Mersinis. Population in-creases overnight. The migrants have the same fertility rate as locals.(c) People of Adanus decided to spend less on kebap and çöp şiş due to healthreasons. As a result, saving rate in the country increases.

Since you have posted multiple independent questions, according to the guidelines, only the first…

4. Explain the idea of the macroeconomic production function to someone who knows no economics. The production function we have discussed relates output per capita to technology, labor (and population growth rate), capital, and hu- man capital. We should properly think of all of these variables as endogenous variables. Think about policies that would affect these. Articulate three policy recommendations for each. Be careful about the distinction between labor and population. Do you think policies that would maximize investment would also maximize welfare?

4. Explain the idea of the macroeconomic production function to someone who knows no economics. The production function we have discussed relates output per capita to technology, labor (and population growth rate), capital, and hu- man capital. We should properly think of all of these variables as endogenous variables. Think about policies that would affect these. Articulate three policy recommendations for each. Be careful about the distinction between labor and population. Do you think policies that would maximize investment would also maximize welfare?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. Assume that there are two countries with the following characteristics. Per capita Output Y = A.kª.h¹-a A-technology k-per capita physical capital h-per capita human capital a-0.6 Country A with $500 per capita income saves 25% of its output and invests on physical capital, and 25% on investing in human capital. Country B with $5000 per capita income saves 25% of its output and invests on physical capital, and 35% on investing in human capital. a. What are the growth rates of the two countries? b. What will be the per capita income levels after 5 years? c. Will there be convergence on the per capita income in the future?
In che mid-1980s several of South Africa's maintrading partners imposed trade sanctions on SouthAfrica in an effort to bring an end to the then-prevailing policy of apartheid.South Africa mainly relied on the exports ofprimary commodities like gold, iron and other preciousmetals, while importing mainly capital goods.This almost instantly led to South Africa expe-riencing a shortage of capital goods, resulting insubdued economic growth. 31. In what did South Africa have a comparativeadvantage? 32.a.Draw a graph to illustrate production,consumption and trade in South Africabefore the imposition of trade sanctions.b.Was South Africa consuming inside, on oroutside its PPP? Explian your answer.c.Draw a graph to show the effects of tradesanctions on consumption and productionin South Africa.d. Did trade sanctrions change any opportunitycoSts in South Africa? If so, did theopportunity cost of everything increase?Did the opportunity cost of any itemsdecrease? Illustrate your answer…
4. The catch-up effect Consider the economies of Sporon and Tralfamadore, both of which produce gaggles of gop using only tools and workers. Suppose that, during the course of 50 years, the level of physical capital per worker rises by 5 tools per worker in each economy, but the size of each labor force remains the same. Complete the following tables by entering productivity (in terms of output per worker) for each economy in 2018 and 2068. Sporon Physical Capital Labor Force Output Productivity Year (Tools per worker) (Workers) (Gaggles of gop) (Gaggles per worker) 2018 11 30 1,800 2068 16 30 2,160 Tralfamadore Physical Capital Labor Force Output Productivity Year (Tools per worker) (Workers) (Gaggles of gop) (Gaggles per worker) 2018 8 30 900 2068 13 30 1,620 Initially, the number of tools per worker was higher in Sporon than in Tralfamadore. From 2018 to 2068, capital per worker rises by 5 units in each country. The 5-unit change in capital per worker causes productivity in Sporon…
9 Introduction to Economics Please solve it very quickly ????
Please solve and show how you got the solution for by better understanding
4. The catch-up effect Consider the economies of Blahnik and Gribinez, both of which produce gobs of goo using only tools and workers. Suppose that, during the course of 50 years, the level of physical capital per worker rises by 5 tools per worker in each economy, but the size of each labor force remains the same. Complete the following tables by entering productivity (in terms of output per worker) for each economy in 2019 and 2069. Year 2019 2069 Year 2019 2069 Physical Capital (Tools per worker) 11 16 Physical Capital (Tools per worker) 8 13 Blahnik Labor Force (Workers) 30 30 Output (Gobs of goo) 1,800 2,160 Gribinez Labor Force (Workers) 30 30 Output (Gobs of goo) 900 1,620 Productivity (Gobs per worker) Productivity (Gobs per worker) Initially, the number of tools per worker was higher in Blahnik than in Gribinez. From 2019 to 2069, capital per worker rises by 5 units in each country. amount than productivity in Gribinez. This illustrates The 5-unit change in capital per worker…
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3. Do macroeconomic measures apply to the entire perfectly? If not, how else are they valuable population tools?
16 Calculate the implied growth rate of technology in each scenario. Assume labor's share of output is 60% and capital's share of output is 40%. Instructions: Enter numbers rounded to two decimal place in each box. Growth Rate of Labor (8) Growth Rate of Capital (8) Scenario A B C D Growth Rate of Output (8) 3.0 4.2 3.0 4.2 2 3 2 1 2 3 1 4 Implied Growth Rate of Technology (8)
3. The following table provides data on output per worker, physical capital per worker, and human capital per worker, all relative to the United States. For each of the three countries listed, calculate factor accumulation and productivity relative to the United States. In which country does factor accumulation play the largest role in explaining income relative to the United States? In which country does productivity play the largest role? Country Output per Worker, y Physical Capital per Human Capital per Worker, k Worker, h Netherlands 0.87 0.81 0.94 Paraguay 0.097 0.094 0.80 Pakistan 0.092 0.067 0.65
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