Macroeconomics
Macroeconomics
4th Edition
ISBN: 9780393602487
Author: Jones, Charles I.
Publisher: W. W. Norton & Company
Question
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Chapter 3, Problem 10E

(a)

To determine

Determine the growth rate

(a)

Expert Solution
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Explanation of Solution

If k, l and m grows at constant rate, then the growth rate can be calculated as follows:

y=k(13)=(13)×gk¯

Thus, the growth rate is (13)×gk¯

(b)

To determine

Determine the value of growth rate

(b)

Expert Solution
Check Mark

Explanation of Solution

If k, l and m grows at constant rate, then the growth rate can be calculated as follows:

y=k(13)l(13)=((13)×gk)+((23)×gt)

Thus, the growth rate is ((13)×gk)+((23)×gt)

(c)

To determine

Determine the value of growth rate

(c)

Expert Solution
Check Mark

Explanation of Solution

If k, l and m grows at constant rate, then the growth rate can be calculated as follows:

y=mk(13)l(13)=gm+((13)×gk)+((23)×gt)

Thus, the growth rate is gm+((13)×gk)+((23)×gt)

(d)

To determine

Determine the value of growth rate

(d)

Expert Solution
Check Mark

Explanation of Solution

If k, l and m grows at constant rate, then the growth rate can be calculated as follows:

y=mk(14)l(34)=gm+((14)×gk)+((34)×gt)

Thus, the growth rate is gm+((14)×gk)+((34)×gt)

(e)

To determine

Determine the value of growth rate

(e)

Expert Solution
Check Mark

Explanation of Solution

If k, l and m grows at constant rate, then the growth rate can be calculated as follows:

y=mk(34)l(14)=gm+((34)×gk)+(14)×gt

Thus, the growth rate is gm+((34)×gk)+(14)×gt

(f)

To determine

Determine the value of growth rate

(f)

Expert Solution
Check Mark

Explanation of Solution

If k, l and m grows at constant rate, then the growth rate can be calculated as follows:

y=(klm)(12)=((12))×(gm+gk+gt)

Thus, the growth rate is ((12))×(gm+gk+gt)

(g)

To determine

Determine the value of growth rate

(g)

Expert Solution
Check Mark

Explanation of Solution

If k, l and m grows at constant rate, then the growth rate can be calculated as follows:

y=(kl)(14)(1m)(34)=((14))×gk+(14)×gt(34)×gm

Thus, the growth rate is ((14))×gk+(14)×gt(34)×gm

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