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Explain the key features of major
Select and explain at least 3 macroeconomic variables. How would you get data on these variables and how are the variables useful for conducting macroeconomic analysis?
Identify key macroeconomic policies for Fiji's economy as presented in the recent national budget.
Identify the key risk factors to global
Explain how the above factors impact your local economy and your livelihood. Identify some response mechanisms that you could adopt to mitigate those risks.
Explain how capital per capita determines income per person and consumption per person. Derive the interconnections.
Define the steady state of an economy. What are the key features of macro variables in this state?
Suppose a small island economy has less than the steady-state level of capital. Use the Solow model implications on the steady state to explain what will happen over time in this economy.
Identify a few policies to accelerate economic growth in your country post COVID-19.
Identify the ley limitations of the Harrod-Domer model.
If IS curve is Y = 2500-150i, and the LM is Y = 500+50i, determine Y* and i* the equilibrium values of income and interest rate.
An economy described by the Solow growth model has the following production function:
y = √?
Solve for steady-state value of income per capita (y) in terms of s, n, g, and δ.
Solve for the growth rate of output per capita (Δy).
A developed country has a saving rate of 28 percent and a population growth rate of 1 percent per year. A less developed country has a saving rate of 10 percent and a population growth rate of 4 percent per year. In both countries, g = 0.02 and δ = 0.04. Find the steady-state value of y for each country.
What policies might the less developed country pursue to raise its level of income?
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