The following difference equation describes a simple model of a certain economy, where Yg is the total income during year k, a is a constant less than 1, called the marginal propensity to consume, and b is a positive constant of adjustment that describes how changes in consumer spending affect the annual rate of private investment. YK+2- a(1 + b)Yk+1 + abYk = 1 Find the general solution when a = 0.75 and b= 0.09. Find the general solution of the difference equation, rounding to two decimal places as needed. Choose the correct answer below. O A. Y = 4(0.72)k + 4(0.09)k O B. Y =c, (0.82)* .c2(0.07)* Oc. Yk =C1 (0.72k) + c2(0.09k) + 4 O D. Y =c, (0.82)* + c, (0.07)* + 1 O E. Y =c, (0.72)* .c2(0.09)* OF. Y =c, (0.72)* + c2 (0.09)* + 4 •4 O G. Yk = C1 (0.82k) + c2(0.07k) + 1 O H. Y = (0.72)* + (0.09)* + 0.25

The following difference equation describes a simple model of a certain economy, where Yg is the total income during year k, a is a constant less than 1, called the marginal propensity to consume, and b is a positive constant of adjustment that describes how changes in consumer spending affect the annual rate of private investment. YK+2- a(1 + b)Yk+1 + abYk = 1 Find the general solution when a = 0.75 and b= 0.09. Find the general solution of the difference equation, rounding to two decimal places as needed. Choose the correct answer below. O A. Y = 4(0.72)k + 4(0.09)k O B. Y =c, (0.82)* .c2(0.07)* Oc. Yk =C1 (0.72k) + c2(0.09k) + 4 O D. Y =c, (0.82)* + c, (0.07)* + 1 O E. Y =c, (0.72)* .c2(0.09)* OF. Y =c, (0.72)* + c2 (0.09)* + 4 •4 O G. Yk = C1 (0.82k) + c2(0.07k) + 1 O H. Y = (0.72)* + (0.09)* + 0.25

Name: The following difference equation describes a simple model of a certa
Uploaded: 2024-03-20T06:46:42.000Z
Channel: Bartleby
Description: The following difference equation describes a simple model of a certain economy, where Yg is the total income during year k, a is a constant lessthan 1, called the marginal propensity to consume, and b is a positive constant of adjustment that descr

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Related questions

Q: Like we did for the linear model, we will start building from the recursive equation. Fill in the…

A: The given pattern is .The aim is to complete the pattern for and find the formula for and also…

Q: Suppose that the selling price p of an item for the quantity x sold is given by the function p = − 1…

Q: Given U = VXY; and Px=10 , Py-20, income=100; what is the value of MRSxy at the optimization point?…

Q: 1. Suppose a business purchases a photocopier for $12,000 in 2020. The accounting department of the…

A: Since the student has posted many sub-parts of the question and does not mention any specific part,…

Q: Example 17. The relation between a country’s import M and income y is given by 1 2 M = 10 + – · y…

Q: Suppose that the world's current oil reserves is 2090 billion barrels. If, on average, the total…

A: The current world's oil reserves is 2090 billion barrels. This means the current world's oil…

Q: An open-top box with a square base is made with 1200 cm2 of cardboard. A. Express the area A = 1200…

A: The calculations are as follows

Q: Last year OHaganBooks.com experimented with an online subscriber service, Red On Line (ROL), for its…

Q: A small college had 3548 students in 1998 and 4272 students in 2002. Let t = 0 be 1995 and get the…

A: Given that the college had 3548 students in 1998. 4272 students in 2002. Also given that t=0 be…

Q: A business has found that it can sell 770 items if it sets its price to $66.61. However, if it…

A: Given: A business can sell 770 items if the price is $66.61. If the price is lowered to $41.4, then…

Q: 2. The Production Model. In the middle of the fourteenth century, an epidemic known as the Black…

Q: Suppose that the direct demand and direct supply functions are x = √200 - p and x = √p - 38,…

Q: 0 represent 2000.† (a) Write a linear model for the data.

A: Personal income (in billions of dollars) in the United States was 12,430 in 2008 and 14,167 in 2013.…

Q: Suppose that the long-lasting light bulb supply equation is given by p = 1.04 q- 7.03 and that the…

A: At equilibrium quantity demanded is equal to quantity supplied.

Q: (3) The demand function for a tablet is given by the model p= 200-16x where p is measured tablet and…

A: Given that, The demand function for a tablet is given by the model p=200-16x2 where p is measured in…

Q: p = 2x² + 10 (a) Sketch the supply curve.

Q: The demand function for a good is given by the equation P = a − bQ while the total cost function is…

A: Given demand function is PQ=a-bQ (i) Cost function is CQ=dQ2+eQ+f…

Q: In a certain firm, the total production cost function and a demand function are given by the…

Q: 6. Find the profit function for a competitive firm with the production function Y=L0.8K0.2 Find the…

A: Consider the given production function, Y=L0.8K0.2 let us consider that, Market…

Q: Flying twice as far A flight from Los Angeles to ABQ is about 2 hours but is 670.2 miles. A flight…

A: 1. let the time taken for flight for takeoff and landing be x. given that travel in the air will…

Q: The annual expenditure for cell phones varies by the age of an individual. The average annual…

A: At what age is the yearly expenditure for cell phones the greatest .

Topic Video

Question

The following difference equation describes a simple model of a certain economy, where Yg is the total income during year k, a is a constant less
than 1, called the marginal propensity to consume, and b is a positive constant of adjustment that describes how changes in consumer spending
affect the annual rate of private investment.
YK+2- a(1 + b)Yk+1 + abYk = 1
Find the general solution when a = 0.75 and b= 0.09.
Find the general solution of the difference equation, rounding to two decimal places as needed. Choose the correct answer below.
O A. Y = 4(0.72)k + 4(0.09)k
O B. Y =c, (0.82)* .c2(0.07)*
Oc. Yk =C1 (0.72k) + c2(0.09k) + 4
O D. Y =c, (0.82)* + c, (0.07)* + 1
O E. Y =c, (0.72)* .c2(0.09)*
OF. Y =c, (0.72)* + c, (0.09)* + 4
•4
O G. Yk = C1 (0.82k) + c2(0.07k) + 1
O H. Y = (0.72)* + (0.09)* + 0.25

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

Step 2

Step 3

Step 4

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 3 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Chain Rule$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.

Similar questions

Suppose demand is given by p = 1600 − x. Find the maximum revenue.
4 7. Write a formula for a linear equation that has a slope of and passes through the point 9 (2, -7)
Question 4B
The demand function for a good is given by the equation P = a − bQ while the totalcost function is TC = dQ2 + eQ + f, where a, b, d, e and f are positive constants.(a) Derive the equation for profit.(b) Derive an expression for the value of Q for which profit is maximised.
The weekly profit model has roots at X=−52.789, X=47.555, and X=202.944, rounded to 3 decimal places. The marginal weekly profit model has roots at X=−8.488 and X=140.295, rounded to 3 decimal places. A. What weekly production level will maximize profit? Round to 1 decimal place. _______ sleeping bags
Algeria is a developing country on the northern coast of Africa. Its infant mortality rates (number of deaths per 1000 live births) declined from 94 in 1980 to 33 in 2006.a. Assume that the infant mortality rate is declining linearly over time. Construct an equation modeling the relationship between infant mortality rate and time, where time is measured in years since 1980.Round any calculations to two decimal places.d(x)= , where d(x) is the number of deaths per 1000 live births x years from 1980.b. Assuming that the infant mortality rate is declining exponentially over time, construct an equation modeling the relationship, where time is measured in years since 1980.Round any calculations to four decimal places.m(x)= , where m(x) is the number of deaths per 1000 live births x years from 1980.c. What would each of your models predict for the infant mortality rate in 2011?Round your answers to the nearest integer.Using the linear model, deaths per 1000 live births in 2011.Using the…
Suppose that the number of tee shirts sold (N) depends linearly on the price charged (x). Write an equation showing this dependence.