EBK MACROECONOMICS
EBK MACROECONOMICS
10th Edition
ISBN: 9780134896571
Author: CROUSHORE
Publisher: VST
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Chapter 5, Problem 6AP
To determine

To explain: The effect of temporary adverse supply shock of a foreign country in the home country’s national saving, investment, current account balance, and world interest rate. Secondly, the effect of adverse supply shock when it occurs worldwide.

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3. A country has the following production function: Y = K0.2L0.6p0.2 where Y is total output, K is capital stock, L is population size and P is land size. The depreciation rate (8) is 0.05. The population growth rate (n) is 0. We define: y = ½, k = 1 and p = . Land size is fixed. L a) Find out the steady state values of k and y in terms of p, the per capita land size.
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Consider the market for sweaters in a Hamilton neighbourhood shown in the figure to the right. The consumer surplus generated by consuming the 29th sweater is OA. $67.90. OB. $58.20. ○ C. $77.60. OD. $38.80. ○ E. $19.50. Price ($) 97 68.0 48.5 29.0 29.0 Sweater Market 48.5 Quantity (Sweaters per week)
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