In year 1, a country has saving rates s = 0.1, productivity A = 2 and depreciation rate d = 0.1. In year 2, the same country has s = 0.1, A = 1, d = 0.2. a. Using the endogenous growth model, find the economy's growth rate in year 1. b. What is the state of the economy in year 1? (Use business cycle words) Using the endogenous growth model, find the economy's growth rate in year 2.

In year 1, a country has saving rates s = 0.1, productivity A = 2 and depreciation rate d = 0.1. In year 2, the same country has s = 0.1, A = 1, d = 0.2. a. Using the endogenous growth model, find the economy's growth rate in year 1. b. What is the state of the economy in year 1? (Use business cycle words) Using the endogenous growth model, find the economy's growth rate in year 2.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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