What determines growth in (post-Kaleckian) models? What are the effects of inequalities in functional income distribution and gender on the economy? Discuss both the demand and supply side effects.
Q: 4-11. Consider the production function Y = X" X}". Px, = $1 and P = $2. How many units of X, and X,…
A: For finding out the units of X1 and X2, we will use equilibrium condition. At equilibrium, ratio of…
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A: Marginal propensity to consume = 0.75 Rise in autonomous investment = 800
Q: Suppose the total cost function of a firm that produces hotdogs is C = 150q - 4q + 2q' where q is…
A: As per the given information Total cost is : C = 150q -4q2 +2q3 Marginal cost : MC = 150 - 8q +6q2…
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A: The inflation rate is the change in the general price level and it is positive means the general…
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A: Note: We will answer the first question as the exact one was not specified. Please resubmit a new…
Q: A competitive firm has a total cost function: TC = 100 + 25q − 8q2 + 2q3 and a marginal cost…
A: TVC = TC-TFC where TFC = 100. So TVC = 25q -8q2 + 2q3
Q: Commercial banks hold governments bonds of £71, reserves of £61, and currency of £48. The public…
A: Commercial bank Hold govt bond = 71 reserve = 61 currency = 48 Public Hold Currency = 100 govt…
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Q: $1 and Px. $2. How 4-11. Consider the production function Y X}" X". Px. many units of X, and X,…
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Q: 2. Suppose the total cost function of a firm that produces hotdogs is C = 150q- 4q+ 2q where q is…
A: Given that Total cost = 150q - 4q2 +2q3 MC = 150 - 8q + 6q2
Q: The soft-budget constraint manifested itself in
A: Since you have posted multiple questions, we will answer the first question for you. Soft Budget…
What determines growth in (post-Kaleckian) models? What are the effects of inequalities in functional income distribution and gender on the economy? Discuss both the demand and supply side effects.
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- Do the migration trends, unemployment trends and rural-urban income ratio trends behave in the way you would expect based on the Harris-Todaro model? Explain.Some MPs are more interested in education policies than in childcare programs. The MPs propose that we should eliminate the higher education debts of women. In line with the human capital model, what is the expected effect of this on the educational attainment of women who already left education at different levels (e.g. middle school, high school, university)? Why do you expect such an effect?Is underdevelopment a domestic or internally induced phenomenon? Explain the implication of extreme gap between rich and poor countries in the world. Identify the different sources of national and international economic growth?
- Which of the following models, if any, rests on the assumption of competitive factor markets? Gravity model Ricardian model Heckscher-Ohlin modelWhy did classical liberals argue against creating a welfare state?Now suppose that there is mobility in the labour market in country Alpha and we are in the pre-minimum wage period. Country Alpha receives migrants from country Beta and these migrants are positively selected. Suppose country Alpha decides to adopt a welfare program to increase the minimum income of its workers. This minimum income is granted to all native workers, immigrant workers, and the new incoming immigrants. Using the Roy model, and ignoring how the program is funded, with the aid of a diagram, discuss how the welfare program changes the selection of the immigrant flow to country Alpha
- One of the unanticipated consequences of Deng Xiaoping’s economic reform is the issue of China’s left-behind children. This lost generation is mostly the offspring of migrant workers forced to leave villages for cities in search of jobs. Some have argued that as China’s economy grows, nothing highlights the human cost quite like the issue of left-behind children. What will be the negative impacts for China if the government does not deal with it properly?In the model of the poverty trap used by Sachs (also known as the Lewis model), Y=min(AK,BL). (where Y is GDP, K is capital stock, L is labor, and A and B are model parameters). Using this model, give an algebraic expression for the minimum amount of aid necessary to exit a poverty trap for a country. The necessary aid should be as a ratio to the recipient’s GDP. Show how this amount depends on the depreciation rate for the capital stock, the population growth rate for the country, the rate of return to capital (A), and the recipient country’s saving rate. Now calculate the required amount of aid if the depreciation rate = .05, the population growth rate =.02, A=0.2, B=0.4, and the saving rate = 0.15. Explain why the country would remain in poverty without this amount of aid. Discuss what assumptions on surplus labor and aid effects are necessary for the model to be correct on how aid is both necessary and sufficient to end the poverty trap. Discuss what the model says about…Given the two human population age structures shown on the right, which population is most likely at or near equilibrium? population A population B both populations cannot determine a. b. c. d.
- Define economics in terms of wealthThe MPs propose that we should eliminate the higher education debts of women. In line with the human capital model, what is the expected effect of this on the educational attainment of women who already left education at different levels (e.g. middle school, high school, university)? Why do you expect such an effect? (100 words )Mark Zuckerberg of Facebook and Elon Musk of Space X have taken risks to build to their businesses and been successful at it. The fundamental premise for their success mostly hinges on the ownership of private property and free market forces. For billionaires like them who have made their wealth mostly based on their own effort and perseverance, would it be fair to impose high income tax on them to redistribute their wealth to help the poor?
