What is the downside of using prizes to promote the creation of new technology? O It slows the spread and development of those ideas by restricting competition. O Government money may be misdirected towards unproductive projects. O It prohibits competition forever. O Without a market test, prizes might be given to technology which ends up being useless. According to the Solow model, what portion of total savings in the economy goes towards investment? 50% 10% O 90% O 100%

What is the downside of using prizes to promote the creation of new technology? O It slows the spread and development of those ideas by restricting competition. O Government money may be misdirected towards unproductive projects. O It prohibits competition forever. O Without a market test, prizes might be given to technology which ends up being useless. According to the Solow model, what portion of total savings in the economy goes towards investment? 50% 10% O 90% O 100%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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cevaplanmadı 5,00 üzerinden Question: Assume that an earthquake demolishes a large portion of Germany's capital stock. If the işaretlenmiş || final exa saving rate the Solow model expects that output will grow and that the new steady state will P Soruyu işaretle move toward ....... of output per person as before. 0 multiple-choice Lütfen birini seçin: i will not be possib O a. remains the same / the same level remains the same/ the Golden Rule level remains the same/a higher level Thị d. goes down /the same level e. goes up / a higher level
Draw the Solow model and fully label your graph. This should includeper-worker production, steady state investment per-worker, and some labelfor consumption. Where is the “golden rule” consumption level? Is it at themaximum sustainable capital level? Explain.
The phenomenon of scarcity stems from the fact that O governments restrict production of too many goods and services. O in most economies, wealthy people consume disproportionate quantities of goods and services. most economies' production methods are not very good. resources are limited.
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The belief that we can spend our way out of low growth is inconsistent with the best availableempirical evidence and ignores South Africa’s recent poor performance in using governmentspending as a tool to unlock much‐needed economic growth. Gambling with our future on riskyeconomic strategies that have failed elsewhere is something we are not prepared to do.’ TitoMboweni is South Africa's Minister of Finance. The increased government spending noted in Q.3.1. above has to be financed inone way or another. Describe three ways in which government spending can be financed.
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which statement \s are true. use graphs to exlain a. In the Solow growth model, the saving rate is a crucial determinant of the economy's long-run growth rate of output per worker. b. In the endogenous growth model , the representative firm sets the wage so that the demand and supply of efficiency units of labour are equal. c. In the endogenous growth model , there is no steady state of the economy as human capital will always continue to grow forever. d. The assumption of Constant Returns to Scale technology implies that the marginal product of factor imput is always decreasing.
In a neoclassical (Solow) growth model, does a decrease in the savings rate permanently affectsthe growth rate of real output? Why or why not? Explain and show graphically.