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if a firms production function is y kalphal1-alpha show that it can earn at most zero profit use this production
governments frequently manipulate the interest rate as part of economic policy is this a method for ensuring that the
economic indecency arises through market failure what is the market failure in the overlapping generations
a possible explanation for the indecency might be the fact that the consumers are not all alive at the same time and
consider an economy with one consumer in each generation each consumer has an endowment of one unit of the consumption
assume instead that the economy in exercise 1910 lasts only for two periods in the first period there is only a young
consider an economy in which there is one consumer born at the start of each time period each consumer lives for two
some economists argue that immigration will overwhelm the welfare system others that immigration will avert a pensions
if you work for 30 years and wish to retire for 15 years on 50 percent of your working income how much of your income
lsquolsquothe operation of a pay-as-you-go pension system is like a hotel with an infinite number of rooms the hotel
consider an economy where individuals live for two periods only their utility function over consumption in periods 1
consider the previous exercise and suppose that the introduction of social security induces the individuals to retire
social security requires mandatory participation in most countries milton friedman 1999 states that lsquolsquothe
in the solow growth model assume that the aggregate production function is y zfkl where y is total output z is total
consider the solow growth model with cobb-douglas production function y zkalphal1-alpha where y is total output z is
assume that output per unit of labor is related to the capital-labor ratio by yt r logkt and that saving is a fixed
if the production function is given by yt logkt n 005 and d 01 and savings is a fixed fraction of output calculate
can the solow growth model account for the persistence in income inequality across countries due to persistent
consider the ramsey growth model with utility functionassume there are no taxesa derive the conditions describing a
repeat the previous exercise but include a tax on interest income graph the steady state capital-labor ratio against
consider the endogenous growth model with a public input as described in the text with the parameter values a 1 l 1
lsquolsquoif the government can increase the exigency of human capital accumulation it could persistently raise the
lsquolsquoprofit is the incentive to innovate government intervention can only reduce it and therefore stifle the
consider a tax system where the first 5000 of income is tax free the next 10000 is taxed at 25 percent and all income
using the results of the previous exercise find the mean labor-supply response to an increase in the 25 percent rate to