EBK ECONOMICS: PRINCIPLES AND POLICY
13th Edition
ISBN: 9780100605930
Author: Blinder
Publisher: YUZU
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Chapter 36, Problem 2TY
To determine
The effects of the given actions on the U.S. balance of payments if the exchange rates were fixed.
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5. We learnt the following equation in the class: Ak = sy - (n + 8)k where y = ko. Now, I
transform this equation into: Ak/k = sy/k - (n + 8). I want you to use a diagram to show the
steady state solution of this equation (In the diagram, there will be two curves - one
represents sy/k and one represents (n + 8). In the steady state, of course, Ak/k = 0). In this
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3. A country has the following production function: Y = K0.2L0.6p0.2 where Y is total
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a) Find out the steady state values of k and y in terms of p, the per capita land size.
Chapter 36 Solutions
EBK ECONOMICS: PRINCIPLES AND POLICY
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