Problem 2Suppose the economy of an island behaves as the Solow model (Y=AK1/2L1/2), version 1.0 (constantpopulation). Suppose that the productivity parameter is A=90, the depreciation rate is d=1/10, the savings(investment) rate is s=0.10, and the labor force is equal to 2 million (and constant over time).Suppose in year 2010 the economy is in a steady state. Compute the 2010 valuesfor overall capital (K) and income per worker (Y/L). Pick the closest values.The stock of capital is between 6 and 7 million. Income per worker is between 2.5 and3.3.O None of the other optionsThe stock of capital is between 62 and 66 trillion. Income per worker is between16000 and 17000.The stock of capital is between 12md 14 billion. Income per worker is between 4000and 5000.

Answered: Suppose the economy of an island…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question 11 11 The market prices p are related to the quantity q below. Find the equilibrium price and quantity. Demand: p = 35 - q^2/6 Supply: p = q^2/6
Part a Based only on the pessimistic estimates, is the new motel economically attractive? Please enter the PW used to reach your decision: $ Carry all interim calculations to 5 decimal places and then round your final answer to the nearest dollar. The tolerance is ±100.
1. Benefit Cost analysis.Assume a benefit function B = 60*x^.8 and a cost function C = 4 + 7*x^1.5. The maximum difference between B and C are the net benefits. a) Find the value of x that results in the maximum net benefits. b) Would an increase in the fixed cost of 4 affect the value of x? c) Use a Lagrangian model to find the value of the shadow price, or Lagrangian multiplier, if x cannot exceed 5. What does the multiplier signify?
Please explain why this statement is true or false:"In the two-period model, both the Current Account and the Trade Balance in period one improve with an anticipated increase in the endowment of period two (ΔQ1=0 and ΔQ2>0)''Use equations of the optimal allocation of consumption in periods 1 and 2, the trade balance in period 1, and the current account in period 1 to support your answer.Assume the following lifetime utility function: U(C1,C2)= ln(C1) +β ln(C2) and the subjective discounting factor is 0<β<1
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An investor is presented with a choice of two investments: an established clothing store and a new bookstore. Each choice requires the same initial investment and each produces a continuous income stream of 3%, compounded continuously. The rate of flow of income from the clothing store is f(t)=12,000, and the rate of flow of income from the book store is expected to be g(t)=10,000e^0.05t. Compare the future values of these investments to determine which is the better choice over the next 2 years.
In simple linear regression analysis, all the variables are in their natural logs to ensure that P37 Select one: a. None of the answers are correct b. $ log ⁡xy= log ⁡x+ log ⁡y $ c. $ log⁡ \frac{x}{y}= log⁡x- log⁡y $ d. $ log⁡ x^2 = n log⁡ x $
Consider the discrete time model for population growth: Na+1 = Ne"(1-N,) with r > 0. (a) Find all steady states. (b) Discuss the stability of each steady state.
An ecologist is studying the impacts of air pollution on giant panda populations, specifically on panda birth rates. Due to the historical interest in giant pandas, the ecologist has access to data from the last 30 years that allows her to fit two models to the evolution of giant panda populations over time (one for 30 years and one for the last 5 years after a new chemical plant was built close to the panda habitat). She will use these models to determine the long-term impacts of this pollution on panda populations. She has the following information to help her model the two sets of population dynamics data on adult and baby pandas : i. 1) Without pollution, for every 1 adult female panda a year earlier, 0.75 baby pandas are born each year (reproduction rate = 0.75). 2) With pollution, for every 1 adult female panda a year earlier, 0.7 baby pandas are born each year (reproduction rate = 0.7). 3) 3 in 4 of the adult female pandas survive to the next year. 1 in 3 female baby pandas…

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