MindTap Economics, 1 term (6 months) Printed Access Card for Mankiw's Principles of Macroeconomics, 8th (MindTap Course List)
8th Edition
ISBN: 9781337096591
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 12, Problem 6CQQ
To determine
Malthusian theory of population.
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What did Malthus and Ricardo say about population growth?
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4. The Solow model says that population growth will not benefit a country in the long run but Michael Kremer disagrees. Explain both positions. Use a graph to explain Solow's argument.
5. The amount of education the typical person receives varies substantially among countries. Suppose you were to compare a country with a highly educated labor force and a country with a less educated labor force. Assume that education affects only the level of the efficiency of labor. Also assume that the countries are otherwise the same: They have the same saving rate, the same depreciation rate, the same population growth rate, and the same rate of technological progress. Both countries are described by the Solow model and are in their steady states. How would the following variables differ between the countries?
A. The rate of growth of total income
B. The level of income per worker
C. The real rental price of capital
D. The real wage
Chapter 12 Solutions
MindTap Economics, 1 term (6 months) Printed Access Card for Mankiw's Principles of Macroeconomics, 8th (MindTap Course List)
Ch. 12.1 - Prob. 1QQCh. 12.2 - Prob. 2QQCh. 12.3 - Prob. 3QQCh. 12 - Prob. 1CQQCh. 12 - Prob. 2CQQCh. 12 - Prob. 3CQQCh. 12 - Prob. 4CQQCh. 12 - Prob. 5CQQCh. 12 - Prob. 6CQQCh. 12 - Prob. 1QR
Ch. 12 - List and describe four determinants of...Ch. 12 - Prob. 3QRCh. 12 - Prob. 4QRCh. 12 - Prob. 5QRCh. 12 - Prob. 6QRCh. 12 - Prob. 7QRCh. 12 - Prob. 8QRCh. 12 - Prob. 1PACh. 12 - Prob. 2PACh. 12 - Prob. 3PACh. 12 - Prob. 4PACh. 12 - Prob. 5PACh. 12 - Prob. 6PACh. 12 - Prob. 7PACh. 12 - Prob. 8PACh. 12 - Prob. 9PA
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- According to 2019 data, Japan will continue to be the most aged country in the world until 2050. Japan's workforce is estimated to drop by 13 million by 2040. How will the economy be impacted? a. The impacts on labor productivity will exceed the impacts on economic growth. b. The impacts on economic growth will exceed the impacts on labor productivity. c. The impacts on economic growth and labor productivity will be equal/comparable. d. Neither labor productivity nor economic growth will be impacted.arrow_forwardLook around you and try to identify ten (10) objects/items that you may consider as evidences of Economic growth. On each item, explain why you consider it as proof of economic growth. Then try to define Economic Growth using those observations.arrow_forwardDiscuss the role of institutions in economic growth. What type of institutions are important for economic growth, and why?arrow_forward
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