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Question77 This question aims to explore some of the points discussed about the Solow-Swan model. Consider an economy with the general Cobb-Douglas production function:Y = A * Kα * L(1-α) The equation describing capital dynamics is:[math]Where d is a constant parameter that captures the depreciation rate. Investment follows a behavioural equation as discussed in class, ie, a constant 's' fraction of output is invested in every period.Answer the following questions assuming that labour grows at the rate n = 0.1 and adopting the assumptions made in lecture.Assume: s = 0.60, d = 0.10, α = 0.5, L= 1and A= 1. The level of capital in steady state is 9 The level of capital in steady state is 6(1/2) The level of capital in steady state is 6 The level of capital in steady state is 36 The level of capital in steady state is 12 ResetMaximum marks: 2 Flag question undefined
选项
A.The level of capital in steady state is 9
B.The level of capital in steady state is 6(1/2)
C.The level of capital in steady state is 6
D.The level of capital in steady state is 36
E.The level of capital in steady state is 12
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We start by identifying the Solow-Swan setup given. The production function is Y = A K^α L^{1-α} with α = 0.5, A = 1, and L = 1, so output per effective worker (or per unit of labor, since L is fixed at 1 here) is f(K) = K^0.5. Investment is a fixed fraction s of output, so I = s Y = 0.60 * K^0.5. The depreciation ......Login to view full explanation登录即可查看完整答案
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Question11 In the Solow-Swan model, the steady-state level of output per worker is a function of the initial capital stock and the steady-state level of capital stock. the initial capital stock, productivity, and the saving rate. productivity, the depreciation rate, and the saving rate. productivity and the initial capital stock. the initial capital stock, productivity, and the depreciation rate. ResetMaximum marks: 1 Flag question undefined
Question75 This question aims to explore some of the points discussed about the Solow-Swan model. Consider an economy with the general Cobb-Douglas production function:Y = A * Kα * L(1-α)The equation describing capital dynamics is:[math]Where d is a constant parameter that captures the depreciation rate. Investment follows a behavioural equation as discussed in class, ie, a constant 's' fraction of output is invested in every period.Answer the following questions assuming that labour grows at the rate n = 0 and adopting the assumptions made in lecture.Assume: s = 0.60, d = 0.10, α = 0.5, L= 1and A= 1. More information is required to compute the interest rate in equilibrium The level of the interest rate in steady state is 40.82% The level of the interest rate in steady state is 18% The level of the interest rate in steady state is 8.33% The level of the interest rate in steady state is 20.41% ResetMaximum marks: 2 Flag question undefined
Question73 This question aims to explore some of the points discussed about the Solow-Swan model. Consider an economy with the general Cobb-Douglas production function:Y = A * Kα * L(1-α)The equation describing capital dynamics is:[math]Where d is a constant parameter that captures the depreciation rate. Investment follows a behavioural equation as discussed in class, ie, a constant 's' fraction of output is invested in every period.Answer the following questions assuming that labour grows at the rate n = 0.1 and adopting the assumptions made in lecture.Assume: s = 0.60, d = 0.10, α = 0.5, L= 1and A= 1. The level of the consumption in equilibrium is not possible to compute The level of the consumption in equilibrium is 1.2 The level of the consumption in equilibrium is 24 The level of the consumption in equilibrium is 2.4 The level of the consumption in equilibrium is 12 ResetMaximum marks: 2 Flag question undefined
Suppose that a hurricane damages some physical capital. You happen to remember that this loss of capital affects the marginal product of capital in the Solow model. Taking this effect into account and assuming that the real interest rate 𝑅 𝑡 remains constant, the IS curve predicts [ Select ] a drop no change a rise in investment and [ Select ] a drop no change a rise in short-run output. Note: First, you need to determine whether the destruction of physical capital increases or decreases the marginal product of capital. If you are unsure, you can use the neoclassical Cobb-Douglas production function 𝑌 = 𝐴 𝐾 𝛼 𝐿 1 − 𝛼 as a example and compute the MPK by taking the derivative with respect to 𝐾 . You can then determine the direction of the shift of the IS curve.
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